PBAHB drops Jagdeep as director

 

A state government source said Penang deputy chief minister II Jagdeep Singh Deo had missed PBA Holdings Bhd’s board meetings due to his ankle surgery not too long ago.

PETALING JAYA: 

Penang deputy chief minister II Jagdeep Singh Deo has been removed as PBA Holdings Bhd’s (PBAHB) non-executive director effective today.

In a filing with Bursa Malaysia, the company said Jagdeep’s departure was in accordance with Paragraph 15.05(3)(c) of the bourse’s Main Market Listing Requirements.

This rule specifies that a director’s office becomes vacant if they fail to attend more than 50% of the board meetings held during a financial year.

PBAHB is the parent company of the Penang Water Supply Corporation, which treats and supplies water in the state.

In the same bourse filing, PBAHB clarified that Jagdeep had no disagreements with the board, and there were no unresolved matters that required shareholder attention.

A Penang government source told FMT that Jagdeep had missed meetings due to his ankle surgery not too long ago.

“This is purely procedural as per Bursa’s rules. The chairman has the full discretion to reappoint Jagdeep,” the source said.

PBAHB’s chairman is chief minister Chow Kon Yeow. The board currently comprises 11 other members, including Chow, along with deputy chief minister I Mohamad Abdul Hamid and state executive council member Zairil Khir Johari. - FMT