Friday, October 29, 2010

Two Seloga shareholders seek removal of Samsudin as ED

KUALA LUMPUR: Two shareholders of SELOGA HOLDINGS BHD [], owning a combined 21% stake, have called for a general meeting to remove Datuk Samsudin Abu Hassan as a director with immediate effect.

Seloga said on Friday, Oct 29 that it had received a letter from Usaha Citra and Zulkefli, who hold 25.54 million shares and 249,800 shares, or a combined 21%, that they were exercising their right to call for a general meeting to pass the resolution to remove Samsudin, who is an executive director.

The proposal to remove him came just a day after several board changes. On Thursday, Mohd Noor Hassan, Teoh Kim Loon, Helmi Faisal Fuad and Jeyaratnam Velupillai were appointed independent and non-executive directors.

Seloga posted net profit of RM4.87 million in the second quarter ended June 30, 2010 compared with RM3.60 million a year ago.

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