Monday 22 Jul 2024
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KUALA LUMPUR (Mar 29): The board of directors of Cypark Resources Bhd has requested selected key senior management officers, including its group chief executive officer Datuk Daud Ahmad, to go on unrecorded leave in order to facilitate a fully independent and transparent review process.

This, Cypark said in an exchange filing on Friday, is part of the ongoing strategic review of its business that commenced on Feb 28.

At the start of the strategic review, Cypark on Feb 28 said it had redesignated its chair Datuk Hamidah Moris as executive chair, and non-executive director Muhammad Ashraf Muhammad Amir as executive director.

On Friday, Cypark said that with the redesignation of  Hamidah and Muhammad Ashraf to executive positions "to assume the senior leadership responsibilities in the interim, the continuity of projects and business operations during this period remain as usual".

The strategic review of Cypark's business, currently undertaken by the board of directors, covers all of its current and potential future business segments, including renewable energy, construction and engineering, waste management and waste-to-energy, as well as green technology and environmental services.

The group said the review process seeks to evaluate its current operational frameworks and competencies, with a view to further cultivate its strategic partnerships, embrace a holistic approach to ESG practices and elevate its competitiveness.

Shares of Cypark inched up half a sen, or 0.55%, to close at 91.5 sen on Friday, with a market capitalisation of RM752.89 million.

Edited ByS Kanagaraju
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