KUALA LUMPUR (April 27): Foo Ming Li, executive chairman of Top Builders Capital Bhd, formerly Ikhmas Jaya Group Bhd, has been redesignated as group chief executive officer of the piling and engineering group.

Foo, 51, assumed the role of executive chairman on April 7. According to bourse filings, she started her early career as a personal assistant to a company director. She then ventured into the insurance business.

"Foo moved on to the housing development (business) and has been involved in developing residential and commercial properties in Kuala Lumpur and Johor. She has kept herself involved in the trading business sector due to the company's involvement in mining," said Top Builders.

At the same time, its executive director Vijiaselvam K.T. Nayagam has been redesignated as chief operating officer. A system programmer by training, Vijiaselvam has spent close to 20 years implementing business processes and workflow for the plantation industry and lately, construction industry.

A Practice Note 17 company, Top Builders has approximately nine months to submit its regularisation plan to the relevant regulators for approval or risks being delisted.

Top Builders shares closed up 0.5 sen or 20% at 3 sen on Wednesday (April 27), bringing it a market capitalisation of RM17.65 million.