Asian Pac CEO resigns 'to pursue other opportunities'

• Chai Yee Choong, 54, has also stepped down as a non-independent director of the company, according to a stock exchange filing.

KUALA LUMPUR (Dec 1): Property developer Asian Pac Holdings Bhd (KL:ASIANPAC) said its chief executive officer Chai Yee Choong (pictured) has resigned effective Monday (Dec 1) “to pursue other opportunities".

Chai, 54, has also stepped down as a non-independent director of the company, according to a stock exchange filing.

Chai was appointed as the CEO of Asian Pac in February last year. He served as an independent and non executive director from June 2022 to January 2024, before he was redesignated as a non-independent director.

Chai is a founding partner of Frontpage Capital Ltd, a Hong Kong boutique investment bank licensed as a sponsor by the Securities and Future Commission.

Asian Pac reported a flat net profit of RM7.12 million for the six months ended Sept 30, 2025, compared with RM7.02 million for the same period last year, dragged by higher operating expenses.

Revenue for the period rose 13.65% year-on-year to RM173.74 million, driven by an improvement in contributions from most of its businesses, namely the property development, mall and car park operation, and property investment segments.

Asian Pac’s share price settled unchanged at 12 sen on Monday, giving the company a market capitalisation of RM179 million.

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