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Fajarbaru announces boardroom changes; Chan Kong Choy is new chairman

KUALA LUMPUR (March 24): Former transport minister Tan Sri Chan Kong Choy has been made the chairman of Fajarbaru Builder Group Bhd, as part of a slew of boardroom changes announced by the company yesterday.

Chan, 66, will take over from Datuk Low Keng Kok on April 1, following the announcement of Low’s resignation to pursue his personal interest, according to a bourse filing from the company.

Meanwhile, group executive director Datuk Seri Kuan Khian Leng, 45, is redesignated as group chief executive officer.

Appointed to Kuan’s prior position is engineer Kong Kam Loong, 44, who was previously the director of Fajarbaru’s building construction division.

Concurrently, Fajarbaru also appointed Tan Sri Kuan Peng Ching @ Kuan Peng Soon, 75, as deputy chairman. Kuan is also a deputy chairman in Star Media Group Bhd.

This year, Kuan Peng Ching has upped his shareholding in Fajarbaru to 9.66%. Meanwhile, the other substantial shareholder in the company, Tan Sri Ta Kin Yan, holds a 9.7% stake in the company.  

Shares of Fajarbaru fell 4.5 sen or 5.84% to 72.5 sen yesterday, valuing the construction engineering group at RM271.06 million. Year-to-date, the counter has gained 31.82%.

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