Kerjaya Prospek Property CEO resigns to pursue own interests

• According to the group's latest annual report, Joanne Lee Sor Phaik was appointed to the position on July 13, 2023. Prior to that, she worked with Tropicana Corp Bhd from 2010.

KUALA LUMPUR (Sept 5): Kerjaya Prospek Property Bhd's (KL:KPPROP) chief executive officer Joanne Lee Sor Phaik has resigned from her role after only slightly more than a year helming the property developer.

In a filing with Bursa Malaysia on Thursday, Kerjaya Prospek Property said Lee, 54, had stepped down "to pursue personal interest". 

According to the group's latest annual report, Lee was appointed to the position on July 13, 2023. Prior to that, she worked with Tropicana Corp Bhd (KL:TROP) from 2010.

Lee does not have any interest in the securities of the company or its subsidiaries.

Kerjaya Prospek Property is controlled by executive chairperson Datin Seri Toh Siew Chuon, her spouse Datuk Seri Tee Eng Ho and her brother-in-law Datuk Tee Eng Seng, who is an executive director of the group, through their private vehicle Javawana Sdn Bhd, which holds 72.07% of the group’s shares.

Eng Ho is the non-executive chairman of builder Kerjaya Prospek Group Bhd (KL:KERJAYA) and the executive chairman of premium property developer Eastern & Oriental Bhd (KL:E&O).

In its first financial quarter ended June 30, 2024 (1QFY2025), the group posted a net profit of RM6.05 million, down 72.2% from RM21.89 million in the previous year, as revenue fell 47.5% to RM47.92 million from RM91.28 million, primarily due to lower contribution from its Bloomsvale project in Old Klang Road, Kuala Lumpur, and pre-operating expenses incurred for its newly built hotel, Courtyard by Marriott KL South, which started operations on June 20.

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