MNRB reshuffles board to comply with BNM requirements

PETALING JAYA: MNRB Holdings Bhd unveiled a new composition for its board effective today to ensure compliance with Bank Negara Malaysia’s requirement that limits the number of common directors allowed to serve on the board of a company and its subsidiary.

MNRB told Bursa Malaysia that it also undertook review to further strengthen the composition of the board of MNRB’s subsidiary companies.

With that, MNRB have appointed three new independent non-executive directors namely Khalid Sufat, Zaida Khalida Shaari and Junaidah Mohd Said.

Consequently, four existing independent non-executive directors who are common directors on other boards within the MNRB group, namely Mustaffa Ahmad, Arul Sothy Mylvaganam, Rosinah Mohd Salleh as well as two other directors Hijah Arifakh Othman and Noor Rida Hamzah have also resigned.

The group said the resigning directors will remain or be appointed as board members of MNRB’s subsidiaries.

“With their breadth of experience and expertise, the board of MNRB is confident that they will be able to provide good counsel and direction to steer the subsidiaries towards further growth and success, in line with the aspiration of MNRB.”

It is confident that the appointment of the new directors will certainly set the tone towards strengthening MNRB group’s prospects moving forward.

source https://www.thesundaily.my/business/mnrb-reshuffles-board-to-comply-with-bnm-requirements-JN1438308