KUALA LUMPUR (Jan 16): The emergence of Abang Abdillah Izzarim Abang Abdul Rahman Zohari, son of Sarawak premier Tan Sri Abang Abdul Rahman Zohari Abang Openg, as the largest shareholder of Minetech Resources Bhd has been followed by boardroom changes at the group.

In a filing with Bursa Malaysia on Tuesday, the civil engineering specialist, bituminous products manufacturer and emerging player in the solar energy space said its founder and executive director Choy Sen @ Chin Kim Sang, 70, has resigned to spend more time with his family.

Choy Sen still has a 2.74% direct stake in the company, as well as a 5.46% indirect stake through his family. His son Chin Jet Choy, 38, also ceased to be alternate director to Choy Sen following the senior's resignation. Jet Choy owns a 0.314% direct stake in Minetech.

Another filing showed that Choy Sen's 44-year-old son Pete Chin Sheong Choy has also resigned as executive director of Minetech to pursue other business commitments. He has a direct stake of 0.583% in Minetech.

This leaves Chin Leong Choy as the only executive director of the company from the Chin family. Leong Choy holds a 4.53% direct stake.

Meanwhile, former Minetech non-executive chairman Ahmad Rahizal Ahmad Rasidi, 40, has been redesignated as an executive director. The company has also appointed Emma Yazmeen Yip Mohd Jeffrey Yip, 29, as an executive director. She is currently finance director at ADAP Capital Sdn Bhd, a post she has been holding since February 2022.

The boardroom changes follow the entry of Abang Abdillah Izzarim as a substantial shareholder of the company in December last year, after acquiring a 15.58% stake or 240 million shares from Datuk Awang Daud Awang Putera — the co-founder of embattled Serba Dinamik Sdn Bhd — who ceased to be a substantial shareholder of Minetech following the disposal.

On Jan 3, Minetech had appointed Abang Abdillah Izzarim as the company’s new executive chairman. He owned 16.828% equity interest in Minetech as at Jan 11.

Shares of Minetech closed down two sen or 11.43% to 15.5 sen on Tuesday, with 262.71 million shares changing hands. Its market capitalisation stood at RM244.3 million. The stock has risen 158.33% over the past one year.