Kumpulan Jetson announces slew of boardroom changes, with chairman Teh resigning over health problems

• Besides the resignation of Datuk Teh Kian An, who holds a 4.35% direct stake and an indirect 1.69% stake in the group, Kumpulan Jetson also announced the resignation of Datuk Dr Ong Ah Soon, 81, as the group's non-independent and non-executive director due to "retirement".

KUALA LUMPUR (Oct 6): Kumpulan Jetson Bhd announced a slew of boardroom changes on Friday, including the appointment of Datuk Tengku Ibrahim Farihaddin Datuk Tengku Feissal, the treasurer of Koperasi Kerabat D'Raja Kelantan Al-Muhammadi Bhd, as its independent and non-executive chairman with immediate effect, on the resignation of the group's executive chairman Datuk Teh Kian An, 75, due to health issues.

Tengku Ibrahim, 48, holds several positions in various organisations, Kumpulan Jetson's filing showed. He serves as deputy chairman of Koperasi Sri Nilam Bhd and is a company director in both Zaman Anggun Sdn Bhd and Anggun Jati Sdn Bhd. He is also the executive chairman of Malbest Sdn Bhd and a company director with Anggun Syukur Resources.

Also appointed to Kumpulan Jetson's board was Tunku Datuk Nooruddin Tunku Datuk Seri Shahabuddin, who joins as its independent and non-executive deputy chairman. Tunku Nooruddin, 59, has an extensive background in the oil, gas & energy industries and currently sits on the board of Reneuco Bhd as an independent non-executive director, according to Kumpulan Jetson's filing.

Besides the resignation of Teh, who holds a 4.35% direct stake and an indirect 1.69% stake in the group, Kumpulan Jetson also announced the resignation of Datuk Dr Ong Ah Soon, 81, as the group's non-independent and non-executive director due to "retirement".

The group also appointed Datuk Mohd Efendi Omar, 40, as an independent non-executive director to replace Edward Ng Kah Jiun, 28, who has been redesignated as executive director.

Kumpulan Jetson is involved in construction, property development and the manufacturing of anti-vibration systems, chemicals and plastic products.

In July this year, the group's single largest shareholder Kington Tong Kum Loong, with a 17.89% stake in the group, of which 6.9% were held under Next Peak Assets Ltd, ceased to be a substantial shareholder.

At the time of writing on Friday, Kumpulan Jetson shares closed down 0.5 sen or 2.56% to 19 sen, giving the group a market capitalisation of RM49.64 million.

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