Penang deputy CM Jagdeep no longer a director at parent of state water company after missing too many meetings
Jagdeep Singh Deo lost his non-executive director position in the parent company of Penang Water Supply Corporation as he had missed more than 50 per cent of board meetings during the financial year, which is a Bursa Malaysia rule. — Picture by Sayuti Zainudin
Wednesday, 01 Jan 2025 9:35 AM MYT
GEORGE TOWN, Jan 1 — Penang Deputy Chief Minister II Jagdeep Singh Deo has been removed as a non-executive director of PBA Holdings Bhd (PBAHB), the parent company of the state’s water treatment and supply utility, effective December 31, 2024.
The announcement was made in a filing with Bursa Malaysia, which cited the company’s adherence to Paragraph 15.05(3)(c) of the Main Market Listing Requirements.
According to this rule, a director’s position becomes vacant if they miss more than 50 per cent of board meetings during a financial year.
Citing an unnamed source said to be close to the Penang government, news portal Free Malaysia Today reported that Jagdeep had missed meetings due to recent ankle surgery
A source close to the Penang government also explained that Jagdeep had missed meetings due to recent ankle surgery.
“This is purely procedural as per Bursa’s rules. The chairman has the full discretion to reappoint Jagdeep,” the anonymous source was quoted as saying.
PBAHB’s chairman, Chief Minister Chow Kon Yeow, has the discretion to reappoint Jagdeep, according to the source.
The company clarified in the same filing that Jagdeep’s departure was not due to any disagreements with the board, and there were no unresolved matters requiring shareholder attention.
Frankly, he should retire from most,
ReplyDeleteif not all, official positions , for his own good, and for the sake of the State Government and DAP
He's not really old as chronological age goes, but his health is really not up to it. Not just short term , but chronic illness.
ReplyDelete