KUALA LUMPUR (Jan 17): Revenue Group Bhd has announced the appointment of Leong Seng Wui as a new executive director with immediate effect, after the suspension of two co-founders from the group’s boardroom.
Leong, 43, is also an executive director at Green Packet Bhd and Classita Holdings Bhd (formerly known as Caely Holdings Bhd).
In a stock exchange filing on Tuesday (Jan 17), Revenue Group said Leong has been an entrepreneur in the ICT (information and communications technology) industry for 23 years.
Earlier on Tuesday, Revenue Group’s co-founders and suspended directors, Brian Ng Shih Chiow and Dino Ng Shih Fang, claimed that there was lack of due process in their suspension.
The siblings, who collectively own a 23.077% stake in the e-payment solution company, are trying to call for an extraordinary general meeting to oust the current nine-member boardroom, reinstate themselves as directors and propose the addition of another three members.
Shares of Revenue Group closed nine sen or 12% lower at 66 sen on Tuesday, giving the company a market capitalisation of RM318.25 million.