KUALA LUMPUR (Dec 12): Shares in Sarawak Consolidated Industries Bhd (SCIB) were the most actively traded on Tuesday, following the announcement of Abang Abdillah Izzarim Abang Abdul Rahman Zohari's resignation as SCIB executive chairman.
As at 4.04pm, SCIB had fallen 4.35% or 3.5 sen to 77 sen, with over 105 million shares traded.
In a filing on Monday, SCIB said Abang Abdillah, son of Sarawak Premier Tan Sri Abang Abdul Rahman Zohari Abang Openg, has resigned as SCIB executive chairman, just six months after his appointment in June 2023. The company cited retirement as the reason for his departure.
Concurrently, Datuk Seri Zaini Jass, a former Sabah police commissioner, has been appointed as the new non-executive chairman.
SCIB also underwent board changes with the resignation of two independent and non-executive directors, Shamsul Anuar Ahamad Ibrahim and Toh Beng Suan, who will be replaced by Datuk Tan Bok Koon and Chiew Jong Wei.
Additionally, the company and its former leaders are facing penalties from Bursa Securities for delays in submitting financial reports.
Former chairman Datuk Mohd Abdul Karim Abdullah and former managing director and chief executive officer Rosland Othman were fined RM27,000 each and reprimanded for missing the submission deadlines.
As reported, Mohd Abdul Karim resigned in October 2022 and left the board in December the same year, while Rosland left in June 2023.
At the time of writing, SCIB's market capitalisation stood at RM489.98 million.