Boo Kuang Loon returns as Yong Tai CEO

• 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.

KUALA LUMPUR (Jan 31): Melaka-based tourism-themed developer Yong Tai Bhd has reinstated Datuk Wira Boo Kuang Loon (pictured) 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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