Eastern & Oriental says Tee Eng Ho redesignated executive chairman

KUALA LUMPUR (May 12): Eastern & Oriental Bhd (E&O) announced today Datuk Tee Eng Ho’s redesignation as the property developer’s chairman from director previously besides other board members’ resignations due to the takeover offer by Amazing Parade Sdn Bhd, in which Tee has a stake.

In filings with Bursa Malaysia today, E&O said the boardroom changes are effective today.

According to E&O, Datuk Azizan Abd Rahman has resigned as independent and non-executive chairman of the company while Kamil Ahmad Merican resigned as non-independent and non-executive director.

E&O said Kamil’s resignation was “due to the take-over offer by Amazing Parade” while Azizan’s resignation was “due to personal reasons”.

More to come