KUALA LUMPUR (Aug 28): Handal Energy Bhd has appointed Hulu Kinta assemblyman Muhamad Arafat Varisai Mahamad as its independent and non-executive chairman, effective Monday (Aug 28).
The position has been left vacant since Aug 9, after the departure of Tengku Baderul Zaman ibni Sultan Mahmud, who is the brother of former Yang di-Pertuan Agong Sultan Mizan Zainal Abidin.
Muhamad Arafat, 39, is Perak PKR vice chairman. He also sits on the board of Perak Agro Aquaculture, a subsidiary of Perak Agriculture Development Corp, according to the offshore crane operator’s bourse filing.
In a separate filing, Handal said it has redesignated its managing director Sunildeep Singh Dhaliwal as executive director.
The redesignation is also to replace the vacant post left by Tengku Munawir Islahuddin Tengku Noone Aziz on Aug 9.
Sunildeep, 49, recently ceased to be a substantial shareholder of the group after disposing of a 6.23% stake in the group. Post-disposal, Sunildeep was left with a 0.18% indirect interest in the group.
Meanwhile, Handal has announced the resignation of its independent and non-executive director Jacqueline Fong Yean Yee, 46, due to work commitments.
Earlier this month, Handal also announced the appointments of Xu Tiantian, 45, as its new executive director and Yee Soon Jin, 55, as an independent and non-executive director.
Shares in Handal closed down one sen or 8% at 11.5 sen on Monday, with a market capitalisation of RM29.5 million. The counter has fallen 23.33% year-to-date.