PDZ appoints Trive Property’s former chairman as director

TheEdge Fri, May 06, 2022 11:29pm - 3 months View Original


KUALA LUMPUR (May 6): Container shipping company PDZ Holdings Bhd has announced the appointment of Trive Property Group Bhd’s former chairman Wong Kok Seong as its independent and non-executive director, effective Friday (May 6).

Wong succeeds Hoo Swee Guan, who has resigned as the company’s independent and non-executive director “due to other personal commitment”.

In a bourse filing, PDZ said the 53-year-old man currently sits on the board of several public-listed companies in Malaysia and Singapore.

“He is a senior independent non-executive director of M N C Wireless Bhd. He is also an independent non-executive director of PNE PCB Bhd, Fitters Diversified Bhd and MSM International Ltd,” it added.

It is worth noting that during his tenure at Trive Property, Wong and the other four directors of Trive Property were reprimanded and fined a total of RM2.55 million by the Securities Commission Malaysia (SC) for knowingly furnishing false or misleading statements in the 2014 audited financial statements of the company to the SC and Bursa Malaysia.

The SC said the sanctions arose as a result of its findings that Trive Property had failed to perform an impairment assessment on its development expenditure amounting to RM21.1 million as at July 31, 2014, in accordance with the approved accounting standards.

Following the actions against him by the SC, Wong stepped down as the company’s non-executive chairman in January 2018.

Shares in PDZ were closed unchanged at 4.5 sen on Friday (May 6), for a market capitalisation of RM26 million.

Read also:
Five Trive Property directors reprimanded, fined RM2.55m 
Trive Property chairman, director resign

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