Quek Leng Chan resigns as Guocoland Malaysia chairman

April 30, 2018 | By | Reply More

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KUALA LUMPUR: Tan Sri Quek Leng Chan has stepped down as chairman of Guocoland (Malaysia) Bhd effective immediately, due to internal rationalisation and streamlining of the board.

Guocoland, in a filing to Bursa Malaysia, said Quek will be replaced by non-executive director Choong Yee How.

Independent and non-executive director Tan Sri Nik Mohamed Yaacob had also resigned after serving the board for more than 12 years.

According to Forbes, Quek is currently the executive chairman of privately held conglomerate Hong Leong Co. (Malaysia), which has interests in finance, property and food.

He inherited part of his fortune from his father, one of 3 brothers who started a banking group in the 1920s.

His son Kon Sean led the family into the e-commerce business in 2015 with the launch of GemFive, which sells everything from electronics to fashion.

Quek is Malaysia’s second richest man this year, according to Forbes’ 2018 ranking of the world’s billionaires.

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