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NexG Bhd announced that six of its directors have resigned with immediate effect on the same day the company reinstated the executive powers of its executive chairman and CEO Datuk Abu Hanifah Noordin.
The departing directors, namely Syed Farid Syed Ahmad Al-Attas, Kunal Tayal, Aswath Ramakrishnan, Mohd Zafil Ibrahim, Mohamed Fairuz Mohamed Fauzy and Badrul Hisham Abdul Aziz, cited personal reasons for stepping down.
Their resignations follow the earlier departure of executive director Datuk Chong Loong Men on March 8, who was also among seven directors Hanifah and shareholders linked to him had proposed to remove at an EGM.
In a separate Bursa filing, NexG said the board had reinstated Hanifah’s executive powers with immediate effect, about a week after they were temporarily suspended to facilitate a review of the company’s investments.
The developments come amid a boardroom dispute triggered after Raya Aviation Holdings, associated with Datuk Ishak Ismail, emerged as NexG’s largest shareholder through the acquisition of a 20.4% stake.
Hanifah had previously challenged his suspension and claimed it followed his objections to plans to subcontract parts of NexG’s government contracts, which are worth about RM2.46 billion for the supply of Malaysian passport booklets and identity cards. –TMR
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