Metronic calls off EGM to re­move MNC di­rec­tors

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Metronic Global Bhd has re­voked its call for an EGM to re­move five di­rec­tors of MNC Wire­less Bhd, with­out fur­ther ex­pla­na­tion.

In­ter­est­ingly just days prior to the an­nounce­ment, Metronic saw the res­ig­na­tion of Tan Chor How from its board. Tan, who is also CEO of MNC, was one of the five Metronic was seek­ing to re­move from the board of MNC.

The others were MNC chair­man Wong Kok Seong, and other di­rec­tors Kua Khai Shyuan, Pang Siaw Sian and Thu Soon Shien.

In­stead Metronic had looked to ap­point Nga Koo Koy, Eric Boon Chuan Kit, Ng Wee Peng, Tan Kian Hong and Raja Aida Jas­min Raja Shahrome onto the board of MNC.

Metronic is the largest share­holder of MNC with a 18.75% stake.

MNC, which is in­volved in pro­vid­ing dig­i­tal mar­ket­ing so­lu­tions, has been in the red since 2006.

How­ever, for the first half ended June 30, 2016, it re­turned to the black with net profit fall­ing 82.5% from RM709,000 to RM124,000, due to lower rev­enue from wire­less/mo­bile ser­vices as a re­sult of lower con­sumer spend­ing.

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