KUALA LUMPUR (Dec 1): Asian Pac Holdings Bhd (KL:ASIANPAC) has announced that its chief executive officer, Chai Yee Choong, has resigned effective Monday, citing his intention “to pursue other opportunities”. His departure also includes stepping down as a non-independent director, according to the group’s stock exchange filing.
Chai, 54, joined the board as an independent and non-executive director in June 2022 before being redesignated as a non-independent director in January 2024. He was subsequently appointed CEO in February last year. Outside the group, he is known as a founding partner of Frontpage Capital Ltd, a Hong Kong-based boutique investment bank licensed by the Securities and Futures Commission.
Asian Pac—whose portfolio includes retail, commercial, and mixed-use developments within the broader Kuala Lumpur and Selangor property market, including assets with potential links to the industrial and commercial real estate sectors—reported a marginally higher net profit of RM7.12 million for the six months ended Sept 30, 2025, compared with RM7.02 million a year earlier. The group attributed the flat performance to higher operating expenses.
Revenue, however, rose 13.65% year-on-year to RM173.74 million, supported by stronger contributions from its property development activities, mall and car park operations, and property investment segment.
Asian Pac’s shares closed unchanged at 12 sen on Monday, valuing the company at RM179 million.
