Former attorney-general Mohamed Apandi Ali has resigned from the board of engineering company Metronic Global Bhd with immediate effect, according to a Bursa Malaysia filing yesterday.
According to the filing, Apandi, 72, cited personal commitments as the reason for his resignation as Metronic’s independent and non-executive director.
There were also no recorded disagreements or outstanding matters to be brought to the board’s attention.
Business portal Dagangnews.com reported that Apandi was appointed to the board in July last year.
Further, the portal reported that Metronic had announced the resignation of its non-executive deputy chairperson Tan Choon Wa, following the 65-year-old’s appointment as group adviser.
The Edge, in its report yesterday that highlighted the company’s activities, quoted Bloomberg data which showed Metronic’s shares fell 47 percent to eight sen on May 23 when it completed the share consolidation, from 15 sen on Nov 19 last year when it proposed to undertake several corporate exercises.
The figure was reportedly compared to Metronic’s closing share price of nine sen, up two sen or 28.6 percent yesterday - as the most actively traded counter on Bursa Malaysia.
This development follows Metronic's recent move through Sinaran PPA Sdn Bhd - its joint venture with Earthtech Sdn Bhd - to sign two solar power purchase contracts in Kedah worth RM50 million with a capacity to supply 4,121 kWp for the next 25 years. - Mkini
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