Wednesday 17 Apr 2024
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KUALA LUMPUR (May 24): Danny Leong Kah Chern has relinquished his role as  Revenue Group Bhd's group chief executive officer (CEO), after assuming the position for about five months

He will continue to serve the group as its advisor effective Wednesday (May 24), the payment solution provider said in a bourse filing.

Kah Chern had submitted his resignation letter in March, but the group announced at that time that its board had asked him to reconsider his decision.

Kah Chern is a former CEO of Cuscapi Bhd and GHL Systems Bhd.

Revenue Group was in the spotlight in recent months, after the group filed a lawsuit against the group's co-founders Brian Ng Shih Chiow and his younger brother Dino Ng Shih Fang.

Kah Chern's appointment to Revenue Group's board came after the suspension of the Ng brothers from the board in January.

Besides Kah Chern, Revenue Group had also appointed three others as directors, namely Ooi Guan Hoe (executive director), Tham Sai Cheong (independent and non executive director) and Leong Seong Wui (executive director).

Subsequently, in March, Revenue Group appointed six new directors while eight directors resigned.

The new directors are Krishnan Dorairaju (independent and non executive director), Teh Chee Hoe (executive director), Kamari Zaman Juhari (independent and non executive director), Azman Hisham Che Doi (independent and non executive director), Chandera Sekaran @ Dawson (independent and non executive director) and Tang Ngat Ngoh (independent and non executive director).

It also appointed Ng Kuan Horng as its chief financial officer.

Meanwhile, the Ng brothers resigned as the group's directors, along with managing director Ng Chee Siong and five others.

They are Loo Jo Anne (independent non executive director), Lai Wei Keat (executive director), Ooi Guan Hoe (executive director), Tham Sai Cheong (independent non executive director) and Alwizah Al-Yafii Ahmad Kamal ( independent non executive director).  

Later in April, Revenue Group's executive chairman Nor Azzam Abdul Jalil resigned from the position, while Kamari Zaman Juhari was redesignated to non executive chairman, from independent non executive director.  

Revenue Group's share price closed unchanged at 28.5 sen on Wednesday (May 24), bringing the group a market capitalisation of RM152 million.
The counter has fallen 58% so far this year.

Edited ByS Kanagaraju
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