KUCHING, Jan 4: Tourism, Arts and Culture Minister Dato Sri Tiong King Sing has resigned from his positions as managing director and executive director of a Sabah-based timber trading company Timberwell Berhad.
Tiong cited “other personal commitments” as the reason for his departure from the timber company in a filing with Bursa Malaysia yesterday (Jan 3), according to a news report by Free Malaysia Today.
Timberwell Berhad’s 2021 annual report stated that Tiong was appointed managing director when he joined the board in March 2017, and that he owns a 23.8 per cent stake in the company as of March 31, 2022.
In the first nine months of last year ending Sept 30, the company earned RM3.02 million, a 24.5 per cent increase over the RM2.43 million earned in the same period in 2021.
A company filing also revealed a 4.9 per cent decline in revenue during the same period, from RM22.57 million to RM21.47 million.
Tiong, who is also Bintulu MP-cum-Dudong assemblyman, has more than three decades of experience in the property development and construction, healthcare, and timber industries, among others. — Dayakdaily
