Bintai Kinden’s 24-year old executive director, chairman resign

• He previously held directorships in other listed companies, namely Serba Dinamik Holdings Bhd and NWP Holdings Bhd, both as an independent and non-executive director.

KUALA LUMPUR (May 16): Bintai Kinden Corp Bhd has announced a number of boardroom changes on Monday (May 15), with three resignations and two new appointments.

In a filing with Bursa Malaysia, the mechanical and electrical engineering services provider said its executive director Noor Azri Datuk Seri Azerai has resigned due to personal reasons and time commitment on other companies.

Noor Azri, 24, had assumed the post on July 23, 2021, at the age of 22. He was redesignated (on Oct 1, 2021) as deputy chief executive officer, four months after his first appointment. Later, he was redesignated to his original position, executive director on Feb 16.

Ganjaran Kesetiaan Simpan SSPN Prime Appreciates Loyal Depositors, Encourages Savings Habit

The National Higher Education Fund (PTPTN) has declared a dividend of 3.05% for the National Education Savings Scheme (Simpan SSPN) for 2022, which is higher than the 3% dividend announced the previous year. This is a testament to the agency’s efficiency in effectively managing savings funds based on excellent governance, integrity and strategy to ensure optimal returns to customers.

He recently disposed of four blocks of shares, totalling 12.6 million (or a 1.48% stake) between March 28 and 29, for RM758,806, another filing showed.

He previously held directorships in other listed companies, namely Serba Dinamik Holdings Bhd and NWP Holdings Bhd, both as an independent and non-executive director. However, Noor Azri resigned from the board of NWP in March 2022 and Serba Dinamik in October 2022.

Currently, Noor Azri only holds directorships in Malaysian Genomics Resource Centre Bhd as executive director.

Bintai Kinden also announced the resignation of Ong Choon Lui as non-executive vice/deputy chairman to pursue other interests. Ong, 51, had assumed the post on Feb 24, 2022, after he was redesignated from his previous position as chief executive director.

The group’s non-independent and non-executive chairman Datuk Ibrahim Othman has also resigned from his position, effective Monday, due to personal reasons. He was first appointed to the boardroom as independent and non-executive director on March 15, 2021.

Meanwhile, Datuk Ng Choon Koon, 47, and Ng Siew Kim, 31, have been appointed as independent and non-executive directors of Bintai Kinden, effective Monday.

Choon Koon was previously a state assemblyman for Bemban, Melaka from 2013 to 2018, a former director of Lembaga Perumahan Melaka, former chairman of Real Estate and Housing Developers Association (Rehda) Melaka, as well as former assistant secretary general of Malaysia Basketball Association.

He is also a National Council Member of Rehda Malaysia and the legal advisor of numerous non-profit organisations (NGO).

He is currently a shareholder of Bintai Kinden, having a total of 20.50 million ordinary shares, representing approximately 2.29% of the total issued share capital in the company.

Siew Kim, who is the niece of Choon Koon, holds a Degree in Law from the University of London. She gained her experience in different kinds of legal proceedings, and mainly deals with sales and purchases transactions, banking facilities and other commercial advisory.

To recap, Bintai Kinden slipped into PN17 status on March 29, after its wholly owned unit Optimal Property Management Sdn Bhd (OPM) defaulted on RM109 million worth of financing facilities in relation to the construction of the Universiti Melaka (Unimel) student campus accommodation.

Noor Azri had blamed the Melaka government for not taking action to address payments of RM49.8 million owed to OPM by Kolej Teknologi Islam Melaka Bhd for the construction of the Unimel project.