KUALA LUMPUR: Shares in 7-Eleven Malaysia Holdings Bhd
jumped at the opening bell on Wednesday on news that Farhash Wafa Salvador had replaced Datuk Seri Robin Tan Yeong Ching as chairman.
The stock rose six sen or 3.39% to RM1.83 a share at the start of the day's trading.
As at 10.30am, investors had cashed in the gains to return to the reference price of RM1.77 a share with 101,800 units exchanging hands.
In a filing with the stock exchange, the convenience store chain operator said Farhash has had a long track record across various sectors, including construction, technology, hotel, food and beverage.
"He is also a staunch advocate to promoting the development of the small and medium enterprises (SME) industry in the country,” it said.
According to the filing, Farhash has held directorships or been a shareholder in at least 10 private companies including Swag Technologies Sdn Bhd, Salvador & Sons Sdn Bhd and Pacific Samudera Sdn Bhd.
Meanwhile, 7-Eleven Malaysia said in a separate filing that Robin Tan, who was appointed chairman on Nov 25, 2021, had resigned from the post to pursue other interests.
Tan is the son of 7-Eleven's major shareholder Tan Sri Vincent Tan Chee Yioun and holds directorships on the boards of other companies in the Berjaya Corp group.
