KUALA LUMPUR: Shareholders of Practice Note 17 (PN17) company YFG Bhd yesterday voted to remove almost the entire board of directors of the electrical and mechanical engineering firm at an extraordinary general meeting (EGM).

Safe for non-executive director (NED) Tan Sem Guan, YFG’s chairman and five other directors have been removed.

In separate filings with Bursa Malaysia, YFG said its independent and non-executive chairman Dr Roslan A Ghaffar, managing director Lim Chong Ling, executive director Soo Hon Chong, NEDs Chee Hor Wooi, Rezal Zain Abdul Rashid and Ab Gani Haron  had all been voted off the board.

Accordingly, resolutions to appoint Leong Ngai Seng, Ting Keng Fui, Noel Joseph Ha Thien Sen, Lim Yoke Cheng, Teh Yee Joo and Ong Kenn Tat to the board were passed to replace those removed.

Recall that YFG’s single largest shareholder, General Technology Sdn Bhd, issued a notice to the company on Aug 24 to convene an EGM to seek shareholders’ approval to remove the entire board of directors as they were “not doing enough and with appropriate urgency to prevent the delisting of the group”.

YFG was required to submit its regularisation plan in relation to its PN17 status not later than last Wednesday. The group submitted the plan to Bursa last Tuesday.

Tan was saved from the axe as the resolution to remove him was dropped last Friday, as YFG had secured a restraining order on its creditors, and Tan was approved by the court as nominated by a majority of creditors in the company’s application to act as a director.