KUALA LUMPUR (Jan 31): Melaka-based tourism-themed developer Yong Tai Bhd has reinstated Datuk Wira Boo Kuang Loon as its chief executive officer (CEO), nearly nine months after his initial resignation on May 10, 2023.

In a bourse filing, Yong Tai said the appointment of Boo is effective immediately. The 51-year-old is a substantial shareholder in the company, with a 5.012% stake.

Meanwhile, prominent businesswoman Datuk Leong Sir Ley has relinquished her role as Yong Tai managing director cum CEO after being redesignated as non-independent and non-executive director.

Leong held a 24.2% stake in the property developer via her investment vehicle Domain Capital Sdn Bhd.

Leong is the founding chairperson and CEO of Sheng Tai International (STI), a diversified development and hospitality company which, interestingly, also has a few notable projects in Melaka, including The Sail Melaka in Kota Laksamana.

Financial and business adviser See Tai Soon has also been redesignated to non-independent and non-executive director, from executive director previously.

Shares in Yong Tai closed down 0.5 sen or 1.85% to 2.65 sen, giving the company a market capitalisation of RM100 million.

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