KUALA LUMPUR (Nov 27): Goh Ban Huat Bhd announced boardroom changes today, more than a month after Paragon Adventure Sdn Bhd (PASB) gained control of the group through the acquisition of a 51% stake.
 
Datuk Sri Edwin Tan Pei Seng, who owns 65% of PASB, has been redesignated as the group’s managing director from his previous post of executive director.
 
The remaining 35% stake in PASB is owned by Pei Seng’s younger brother, Datuk Seri Godwin Tan Pei Poh. Their father, Datuk Tan Eng Boon, has been appointed as the group’s chairman.
 
In its filing with Bursa Malaysia, Goh Ban Huat said Eng Boon was a self-made businessman whose business was mainly involved in family agricultural activities, before evolving to include property investment, property development, hospitality and warehousing.
 
The group also announced the appointment of Tee Boon Hin as the chairman of the audit committee, with Datuk Ismail Karim and Tan Sri  Mohd Shukor Mahfar as committee members.
 
Both Tee and Ismail are members of the nomination committee, chaired by Eng Boon.
 
Meanwhile, Aminuddin Yusof Lana, Datuk Ismail Hamzah, Brig Gen (R) Datuk Mior Azam Mior Safi, Tang Tat Chun and Lai Sze Pheng have all resigned from their posts, following a change in Goh Ban Huat’s controlling shareholder.
 
Goh Ban Huat’s share price closed unchanged at RM1.40 today, with about 131,000 shares traded, giving the group a market capitalisation of RM261.3 million. At current level, the group is trading at a trailing P/E of 74.9 times.