Pensonic Holdings Bhd’s shares were suspended from trading today following the removal of its Chief Executive Officer Dato’ Chew Chuon Jin as a director of the company.
The removal was approved by shareholders through a poll at an Extraordinary General Meeting (EGM) held on August 25, following a notice submitted by Sphere Corporation Sdn Bhd under Section 311 of the Companies Act 2016.
Sphere Corporation, a shareholder holding at least 10% of Pensonic’s voting share capital, had requisitioned the resolution for Chew’s removal.
Chew, 57, had served as Pensonic’s CEO and was an executive director. The company’s announcement stated that the resolution for his removal was duly passed by way of poll at the EGM.
Chew is the son of Group Executive Chairman Dato’ Seri Chew Weng Khak @ Chew Weng Kiak and the brother of Group Executive Director Chew Chuon Fang.
The announcement comes as Pensonic shares remain suspended from trading today in view of the development.
