SMTrack announces new executive director

KUALA LUMPUR (Jan 7): SMTrack Bhd has announced the appointment of Datuk Lim Hwa Tat as executive director, as well as his emergence as a significant shareholder with a 5.14 percent stake.

Lim, who also serves as the managing director of Sersol Bhd, purchased 29 million shares of SMTrack on the open market on Friday (Jan 7).

SMTrack also named Datuk Seri Tan Choon Hwa as a non-independent non-executive director in a separate filing, after he increased his stake to 5.4 percent from 3.16 percent previously.

Tan bought 20 million SMTrack shares on the open market on January 6 for 26 sen each, or RM5.2 million.

Within one week of Tan Sri Lee Kim Yew’s presence as a 5.05 percent shareholder in SMTrack, the two significant shareholders emerged.

SMTrack confirmed a government-linked company (GLC) is eyeing a 10% stake in the radio frequency identification company.