KUALA LUMPUR (Sept 22): Chia Mak Hooi, QL Resources Bhd’s board representative to Lay Hong Bhd, was not re-elected to the latter’s board at today’s AGM.

Shareholders had voted against the resolution to re-elect Chia, 49, as a director at the company’s shareholder meeting. It was the only resolution that was not passed during the AGM.

Chia is currently the executive director of QL Resources.

QL Resources has a 29.96% equity interest in Lay Hong, according to Lay Hong’s latest annual report. Innofarm Sdn Bhd is the largest shareholder, with a 37.97% stake.

Chia is deemed interested in Lay Hong by virtue of being a substantial shareholder in QL.

Lay Hong’s shares today rose 3.04% to RM2.37. It has a market capitalisation of RM116.59 million.