KUALA LUMPUR (Oct 1): Globaltec Formation Bhd (KL:GLOTEC) has announced the redesignation of executive director Chen Heng Mun, 56, as deputy group chief executive officer, with immediate effect.

In a bourse filing, Globaltec said Chen would retain his positions as executive director in the boardroom, as well as group finance director.

Chen joined Globaltec’s board on March 28, 2012 and also sits on the board of its 70%-owned Australian clean energy unit NuEnergy Gas Ltd.

Separately, the automotive components manufacturer has appointed Goh Min Yen, 38, as an executive director.

Min Yen is the son of Globaltec founder and group executive chairman Tan Sri Goh Tian Chuan.

He joined Globaltec in 2013 and has held several finance roles there. He is currently general manager of group corporate affairs, overseeing sustainability reporting, corporate finance and investment appraisals.

He previously worked at KPMG from 2010 to 2013, leaving as an audit assistant manager, and handled statutory audits across property development, manufacturing, services and re-insurance.

Min Yen holds a Bachelor’s degree in commerce from Bond University, Australia. He is also a member of the Malaysian Institute of Accountants and CPA Australia.

Shares of Globaltec closed down 2.5 sen or 2.8% to 85.5 sen on Thursday, giving the group a market capitalisation of RM230.1 million.