KUALA LUMPUR (May 14): Tan Sri Tajudin Ramli and his younger brother Datuk Bistamam Ramli have resigned from the posts of non-independent and non-executive chairman and managing director (MD) of Edaran Bhd, respectively.

The duo cited "resolving personal matters" as the reason for the surprise resignation. Both Tajudin and Bistamam are substantial shareholders of the group.

In a filing with Bursa Malaysia today, Edaran said Tajudin, 72, was appointed a director of the group on June 1, 1992 and was subsequently appointed to his current position on Dec 15, 2000. He has been involved in various industries, the more significant of which are telecommunications, transportation and tourism. He was formerly executive chairman of Malaysian Airline System Bhd.

In a separate filing, Edaran also announced the resignation of Bistamam, 56, as MD of the group.

Bistamam was appointed to his current post and chief executive officer of Edaran IT Services Sdn Bhd on June 1, 2004. He was previously attached to Celcom (Malaysia) Bhd, Technology Resources Industries Bhd, Bank Negara Malaysia and Ernst & Young.

The filings revealed that the duo had resigned from their respective posts on May 8, one day ahead of Malaysia's 14th general election that saw the opposition alliance winning a historic victory.

Shares in Edaran fell four sen or 6.78% to close at 55 sen today, with a market capitalisation of RM32.43 million.