KUALA LUMPUR (May 6): Ajiya Bhd has announced its new management with the appointment of a new executive director, managing director (MD) and chief executive officer (CEO) on Friday (May 6). 

In a bourse filing, Ajiya said it has appointed Datuk Seri Chiau Beng Teik as its executive director.

Chiau, who founded Main Market-listed building material specialist Chin Hin Group Bhd, is currently a substantial shareholder in Ajiya with a 32% or 93.35 million share interest in the company.

Chiau’s son, Chiau Haw Choon, 38, was also appointed to serve as Ajiya’s MD, according to a separate filing. He currently serves and holds several other directorships in Solarvest Holdings Bhd and Signature International Bhd, on top of being the group MD of Chin Hin.

Meanwhile, Datuk Chan Wah Kiang, who had resigned as Ajiya’s MD on Thursday (May 5), had been appointed to helm the building materials manufacturer as its new CEO, it said in a separate filing on Friday. 

On Friday’s market close, Ajiya’s shares fell three sen or 2.6% to close at RM1.13, giving it a market capitalisation of RM344.2 million. Year-to-date, the company's share price has declined four sen or 3.42% from RM1.17.