THE Minority Shareholders Watch Group (MSWG) is seeking an answer from Permaju Industries Bhd with regard to commitment of its executive director (ED) Tang Boon Koon who happens to sit on four company boards.
In a question addressed to Permaju for its forthcoming annual general meeting (AGM), MSWG wants to know how is Tang able to cope with his position as ED of mTouche Technology Bhd, Meridian Bhd and Pasukhas Group Bhd given that all four are executive positions that require full-time commitment.
“As the executive director of the company, Tang is expected to devote his full-time commitment to Permaju as he is drawing salary, bonus and other benefits under the contract of service with the Company,” justified the monitoring body.
“Given that Tang is the ED of three other public listed companies, what is the rationale for the nomination committee to recommend Tang to the board and the reason for the board to approve his appointment?”
Elsewhere, MSWG is enquiring from Supermax Corp Bhd how its gloves business is faring against the backdrop of strong demand for gloves globally amid the widespread COVID-19 pandemic:
- What is the current plant utilisation rate of the company?
- What is the current order backlog of the company?
- What is the expected trend of average selling prices for the next 12 months?
As for Bonia Corporation Bhd, MSWG is probing the sudden jump in the company’s impairment on trade receivables to RM8 mil in FY2020 compared from RM1.6 mil in FY2019?
The questions raised include (i) what are the reasons for the significant rise in impairments of trade receivables in FY2020 and (ii) what is the amount of impairments which have been collected to-date? – Nov 27, 2020
