GEORGE TOWN: PBA Holdings Bhd (PBAHB) remains well-staffed at the board level even after the removal of Jagdeep Singh Deo as a non-executive director, says Chow Kon Yeow.
The Chief Minister said Jagdeep - who is Deputy Chief Minister II and a state executive councillor - vacated the seat due to non-compliance with meeting attendance rules.
Paragraph 15.05(3)(c) of Bursa Malaysia's main market listing rules mandates directors must attend at least 50% of board meetings annually.
Chow said the rules apply to all directors, although reports have emerged that Jagdeep's absence was due to a recent ankle injury.
"The company is adequately staffed, with existing members carrying out their duties effectively." As such, there is no urgent need to replace Jagdeep for now," said Chow at a press conference on Thursday (Jan 2).
He said meeting attendance was only one requirement, as directors are also required to attend relevant courses to comply with corporate governance.
