Naza brothers exit from Jetson

KUALA LUMPUR: The Naza brothers — SM Nasarudin SM Nasimuddin and SM Faliq SM Nasimuddin — have both resigned from the board of Kumpulan Jetson Bhd, according to the construction company's filing on Bursa Malaysia on Monday, Dec 13.

Both brothers held the non-executive director positions within the company, but prior to Oct 4, Nasarudin — who is the joint group CEO of Naza Group — held the position of both chairman and executive director. Meanwhile, Faliq — who is the group managing director of Naza TTDI Sdn Bhd — was previously vice chairman of Jetson.

Earlier in September, Naza Group's TTDI KL Metropolis Sdn Bhd had terminated the shareholders' agreement with Jetson to build a new trade exhibition centre for Malaysia External Trade Development Corp (Matrade) on a joint-venture basis.

Naza Group initiated projects such as Matrade and Platinum Park in Kuala Lumpur city centre.