KUALA LUMPUR (Nov 6): Furniture manufacturer Tafi Industries Bhd (KL:TAFI) announced that group managing director Datuk Seri Azlan Azmi has been redesignated to executive director with immediate effect.

In a bourse filing on Friday, Tafi Industries said the group’s group chief executive officer Datuk Seri Wong Sze Chien will take over the managing director position.

The group did not disclose reasons for the boardroom changes.

Azlan was first appointed as group MD in Oct 2020, marking six years of being in the role. 

Azlan and Wong, and executive director Datuk Seri Andrew Lim Eng Guan, collectively control a 45.55% stake in Tafi via Armani Synergy Sdn Bhd.

Separately, Azlan holds a direct stake of 0.08% in Tafi Industries, while Wong and Lim — who are cousins — own 2.25% and 2.29%, respectively.

The trio emerged as Tafi Industries' controlling shareholders in September 2020, when Armani Synergy acquired a 51.01% stake in the furniture manufacturer for RM19.76 million. The acquisition triggered a mandatory takeover offer at 50 sen per share, which was completed the following month.

For the financial year ending June 30, 2026 (FY2026), the group posted a net profit of RM40.22 million on revenue of RM324.64 million, according to a previous filing. There were no comparative figures for the preceding year as the group had changed their financial year end.

Shares of Tafi Industries was last traded unchanged at 65 sen on Thursday, giving the group a market capitalisation of RM246.6 million.