KUALA LUMPUR (Jan 15): Rexit Bhd (KL:REXIT), which provides software as a service, has appointed Tengku Tan Sri Mohamad Rizam Tengku Abdul Aziz, a member of the Kelantan royal family, as its new independent and non-executive chairman.
The 63-year-old Tengku Temenggong of Kelantan succeeds Datuk Seow Gim Shen, who resigned from the company's board in October last year, just six weeks after taking on the role.
Seow's resignation came right before he, along with Kong Chien Hoi, both major shareholders of the group, were sentenced to jail by a Singaporean court for their involvement in a conspiracy to unlawfully obtain data on over 9,000 individuals. They were both jailed for 14 weeks after pleading guilty to the offence.
In a bourse filing on Wednesday, Rexit said Tengku Mohamad Rizam brings over 30 years of experience in the banking sector, having held various senior roles, including as a manager in the business development and marketing division of Hong Leong Bank Bhd (KL:HLBANK), and as the head of transaction banking and senior vice-president at RHB Islamic Bank Bhd.
Tengku Mohamad Rizam has also held prominent public-sector positions, including as the chairman of the Kelantan State Public Service Commission and president of the Kelantan Islamic Religious and Malay Customs Council.
He also has leadership experience in the Malaysian Armed Forces, where he served as the Commander of Regiment 506 Territorial Army.
"Tengku Tan Sri Mohamad Rizam brings a wealth of corporate experience and strategic organisational insights to Rexit," the group added.
Last week, Rexit said there have been no data breaches at the company, and that its data security remains "fully intact" following the completion of an independent cybersecurity audit.
The company's shares closed one sen or 1.27% lower at 78 sen on Wednesday, giving the group a market capitalisation of RM136.8 million. The counter has dropped over 12% in the past one year.
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