KUALA LUMPUR: Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing has resigned as a managing director and executive director of Timberwell Bhd.
According to a company filing on Bursa Malaysia yesterday, Tiong resigned from Timberwell, a Sabah-based timber company, due to other personal commitments.
Free Malaysia today reported that Tiong, the Bintulu member of Parliament, was appointed managing director when he joined the board in March 2017, according to the company's 2021 annual report. It also shows him owning a 23.8% stake in the company as at March 31, 2022.
The company posted a RM3.02 million profit in the first nine months of last year ending Sept 30, a 24.5 per cent hike compared to RM2.43 million in the same period in 2021.
Revenue fell by 4.9 per cent in the same period to RM21.47 million from RM22.57 million, a company filing revealed.
Tiong, 62, has been involved in business for more than 30 years in areas such as property development and construction, healthcare as well as the timber industry.