<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 3): REDtone International Bhd's former group managing director, Datuk Wei Chuan Beng, has resigned as a non-independent non-executive director of the company.</p></div>

<div class=newsTextDataWrapInner><p>According to a bourse filing, his resignation will be effective on May 31, as he pursues his other private businesses.</p></div>

<div class=newsTextDataWrapInner><p>Wei — who has been the driving force behind the group as one of its founding members — had stepped down as managing director on Jan 1 this year, and was re-designated as director.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>His stepping down came shortly after REDtone announced its fourth straight quarterly net loss of RM2.63 million for the second financial quarter ended Oct 31, 2016 (2QFY17). It registered a net profit of RM398,000 in 2QFY16.</p></div>

<div class=newsTextDataWrapInner><p>The loss was attributed to higher costs for certain projects and realisation of foreign exchange losses after the settlement of outstanding balances owing to foreign subsidiaries.</p></div>

<div class=newsTextDataWrapInner><p>REDtone's share price closed unchanged today at 48.5 sen, giving a market capitalisation of RM370.29 million.</p></div>


KUALA LUMPUR (May 3): REDtone International Bhd's former group managing director, Datuk Wei Chuan Beng, has resigned as a non-independent non-executive director of the company.

According to a bourse filing, his resignation will be effective on May 31, as he pursues his other private bus...

REDtone's ex-MD Wei Chuan Beng resigns from board

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<p>(Jan 4): Two Federal Reserve policymakers on Saturday said they feel the US central bank's job on taming inflation is not yet done, but also signalled they do not want to risk damaging the labour market as they try to finish that job.</p>
