Bina Puri announces boardroom changes, founder director Tan Cheng Kiat retires

• Cheng Kiat, 77, established Bina Puri in 1975 and has served on its board since Nov 5, 1990.

KUALA LUMPUR (April 16): Bina Puri Holdings Bhd (KL:BPURI) announced on Wednesday the retirement of its founder director Dr Tan Cheng Kiat, and deputy executive chairman Tan Sri Tee Hock Seng, from its board.

Cheng Kiat, 77, established Bina Puri in 1975 and has served on its board since Nov 5, 1990. He is also the uncle of Hock Seng and grand-uncle to current board member Datuk Matthew Tee Kai Woon. He holds a 2.38% equity interest in the group.

Meanwhile Hock Seng, 76, was also appointed to the board on Nov 5, 1990. He served as group managing director from Nov 22, 1994 until his redesignation as deputy executive chairman on Oct 18, 2023. Hock Seng holds a 3.05% direct stake and a 5.55% indirect stake in Bina Puri.

Their departure comes as Bina Puri was struck with a winding-up petition filed by Wisma Majujaya Sdn Bhd over its failure to settle a RM30 million court award payment. The High Court had earlier granted a summary judgment in favour of Wisma Majujaya, whose director, Datuk Tan Hock Kien, is seeking to wind up the company.

In a separate filing on Wednesday, Bina Puri announced the redesignation of Chai Chan Tong from group managing director cum CEO to group managing director, effective immediately.

Chai, who was appointed as executive director on Jan 19, 2023, was promoted to group managing director cum CEO on Oct 18, 2023. He also chairs the group executive committee and is the major shareholder of the company with a 24.64% stake.

Bina Puri also announced the appointment of Goh Kee Lun as executive director cum group chief financial officer. Goh is currently chairman of Blueshark Holding Ltd, where he leads the group’s capital market strategy and oversees its international expansion in the smart e-scooter space.

Also joining the board is retired police commissioner Datuk Seri Mohd Kamarudin Md Din as an independent and non-executive director. Kamarudin formerly served as the chief police officer of Johor.

Shares in Bina Puri have been trending upwards in recent weeks, rising from a 52-week low of 26 sen to close unchanged at 34.5 sen on Wednesday, valuing the company at RM275.05 million.

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