Penang deputy CM Jagdeep no longer a director at parent of state water company after missing too many meetings

PETALING JAYA, Jan 1 - On January 1, Penang Deputy Chief Minister II Jagdeep Singh Deo has been removed as a non-executive director of PBA Holdings Bhd (PBAHB), the parent company of utility company which manages water treatment and supply system in the state, effective from December 31, 2024.

The announcement was made in a filing with the Bursa Malaysia, highlighting that the company complied with paragraph 15.05(3)(c) of the Main Market Listing Requirements' guidelines.

Pada dasarnya, jawatan pengarah kosong sekiranya mereka menghadiri kurang daripada 50 per sen perjumpaan lembaga selama satu tahun kewangan.

Quoting an unknown government source in Penang, news website Free Malaysia Today stated that Jagdeep was absent from meetings because of recent ankle surgery

A reliable source said Jagdeep had missed meetings as he was recovering from a recent ankle surgery.

The reappointment of Jagdeep is strictly governed by Bursa's regulations. It is within the chairman's authority to extend Jagdeep's tenure if needed.

According to an unnamed source, Chief Minister Chow Kon Yeow has the authority to reappoint Penang Business Advisory and Hilir (PBAHB) chairman Jagdeep, if needed.

The company clarified in a recent filing that Jagdeep's departure was not related to any disagreements with the board and there were no outstanding issues deserving shareholder attention.