MAIN Market-listed apparel maker Prolexus Bhd is ushering in change of guard and new leadership in the company with a slew of board changes.
Leading the pack is YB Ventures Bhd’s executive director Datuk Au Yee Boon who has been appointed to a similar capacity at the company with effect from yesterday (June 1).
A business entrepreneur with a strong track record in the information technology (IT) industry, Au, 42, has demonstrated strong leadership qualities in YB Ventures (formerly Yi-Lai Bhd) following his appointment in 2020 by enabling the tiles manufacturer to record a strong turnaround in its earnings aside from charting a new growth trajectory.
A computer science graduate from Universiti Malaya, Au was the founder and CEO of Techbase Solution Sdn Bhd, an MSC status company specialising in IT solutions.
It is worthwhile mentioning that he is also a substantial shareholder in Prolexus with a shareholding of 11.10 million (direct) and 4.92 million (indirect) respectively.
Elsewhere, Prolexus has also appointed Mestron Holdings Bhd’s independent non-executive director Datuk Low Chin Koon to a similar capacity in the company.
Low, 43, is the group managing director of WYSEN Group of Companies (founded in 1999) which specialises in the business of making office chairs.
Both Au and Low’s appointments came on the heels of three resignations:
- Choong Chee Mun, 44, who resigned as executive director/chief financial officer but will be CEO of Prolexus’ subsidiaries;
- Lee Boon Siong, 42, who resigned as non-independent and non-executive due to other business commitments; and
- Chin Chew Mun, 51, who resigned as non-executive director due to his tenure having exceeded nine years.
“I am excited about the prospect of leading Prolexus in my capacity as the group’s new executive director. Prolexus is one of the leaders in the apparel business segment and I look forward to ensuring the company’s continued leadership,” commented Au.
“I believe that with the great teamwork that we have, we will be able to embark on a new growth trajectory. I look forward to working together to take Prolexus to new heights of success.”
Prolexus is principally involved in the manufacturing of apparels, face mask, textile and provision of advertising services.
With over 40 years of leadership in the industry and 15 million pieces of apparels produced each year, Prolexus has expanded to be a one-stop integrated provider of material to apparels with its brand partners include international notable branded sportswear.
Prolexus managed to maintain its profitability at RM17.2 mil on the back of a revenue of RM227.5 mil despite the COVID-19 pandemic during its FY7/2021.
While its apparel division contributed 93.4% of Prolexus’ total revenue in FY7/2021, the group is expanding its income stream with the recently launched “Arumn”, a crafted modest wear brand for women.
Aside from that, Prolexus owns the “PowerScreen” brand and is the first outdoor digital screen operator in Malaysia. This comes under the group’s advertising division which is expected to see a strong momentum recovery in the post-COVID era.
At the close of yesterday’s (June 1) trading, Prolexus was unchanged at 44 sen with 56,100 shares traded, thus valuing the company at RM122 mil. – June 2, 2022
