KUALA LUMPUR (Feb 20): Velocity Capital Partner Bhd (KL:VELOCITY), which has been in the spotlight recently, announced the resignation of executive director See Toh Kean Yaw on Friday, effective immediately. 

His departure is “to pursue other interest”, according to a bourse filing.

Just a month ago, See stepped down from his role as non-independent and non-executive director at MMAG Holdings Bhd’s (KL:MMAG) board, also citing a pursuit of “other interests”.

See had been on the board of Velocity Capital, then known as CSH Alliance Bhd, since December 2023.

The 53-year-old, a chartered accountant, was appointed to MMAG’s board in March 2025. In that same month, Velocity Capital emerged as a substantial shareholder in MMAG with a 6.46% stake.

Velocity Capital later exited MMAG early January this year. See resigned from the company's board on Jan 19.

See also currently holds directorship in Harvest Miracle Capital Bhd (KL:HM), where he serves as executive director.

Velocity Capital's emergence in MMAG back in March last year coincided with that of NexG Bhd (KL:NEXG), formerly Datasonic Group, as well as Datuk Seri Farhash Walfa Salvador.

Farhash made headlines after emerging as the largest shareholder in MMAG with a 20% stake and was later appointed chairman. NexG, meanwhile, emerged with a 9.53% stake.

Farhash exited MMAG Dec 31, 2025, while NexG’s holding remains unchanged.

Both Velocity Capital and Farhash sold their stakes at a loss. Velocity Capital is estimated to have lost over RM50 million, while Farhash’s stake sale resulted in an estimated loss of over RM97 million.

Shares in Velocity Capital ended unchanged at five sen on Friday, valuing the company at RM69.07 million.