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KUALA LUMPUR: Talam Transform Bhd has appointed Chan Tet Eu, the youngest son of the group’s founder Tan Sri Chan Ah Chye, as a non-independent and non-executive director with immediate effect.
In a filing with Bursa Malaysia yesterday, Talam Transform said Tet Eu, 29, had worked in a media outlet and production house prior to joining a property development company.
Tet Eu currently has deemed interest of 40.731 million shares in Talam Transform, held through his father, Ah Chye, who is also a non-independent and non-executive director in the group.
He also has deemed interest held through his mother Puan Sri Thong Nyok Choo, his sister Chan Siu Wei, Pengurusan Projek Bersistem Sdn Bhd and Sze Choon Holdings Sdn Bhd.
Meanwhile, former TA Enterprise Bhd executive director Yaw Chun Soon has been appointed Talam Transform’s executive director.
Yaw, 52, was the president of the Association of Stockbroking Companies in Malaysia from 2004 to 2006.
He was present at Talam Transform’s annual general meeting as an “observer” on Tuesday.
“The appointment is to make Talam Transform a professionally-run company,” said a source familiar with the group.
Yaw, who is also the director of Asian Outreach (Malaysia) Bhd, currently has a direct interest of 445,000 shares in Talam Transform.
In a separate filing, Talam Transform said Loy Boon Chen has retired as executive director.
Loy, 63, was the executive director of Kumpulan Europlus Bhd until his retirement on Feb 17 this year. He is also a former nominee director of IJM Corp Bhd.
Talam Transform has drawn interest of late, as some investors see value in its massive undeveloped land bank in the Klang Valley, estimated to be worth over RM900 million, compared with its market capitalisation of RM506.3 million based on yesterday’s closing share price of 12 sen.
This article first appeared in The Edge Financial Daily, on July 25, 2014.
