Hextar Healthcare Berhad has appointed Lim Siew Eng and Doris Cheng Chin Ching as Independent Non-Executive Directors effective Jan 1, 2023.
Hextar Healthcare, formerly known as Rubberex Corp (M) Berhad, said Lim had more than 28 years of experience in the financial services industry.
The company said she started her career with Malaysian International Merchant Bankers Bhd (now known as Hong Leong Investment Bank Bhd) where she held various managerial positions and served as head of corporate advisory before joining Maybank Investment Bank in 2004 as its head of corporate finance.
Cheng has over 28 years of experience in the healthcare industry, being head nursing tutor at Pantai Medical Centre, the General Manager at Megah Medical Specialist Centre and subsequently the Chief Operating Officer at Damai Service Hospital in Kuala Lumpur.
Meanwhile, Hextar Healthcare Non-Independent Non-Executive Director Datuk Eddie Ong Choo Meng left his post on Dec 31, 2022.
Ong is exiting the board to pursue other interests, said Hextar Healthcare in a Bursa Malaysia filing. Besides Ong, Hextar Healthcare Deputy Chairman Datuk Mohamed Hamzah also resigned on the same day to pursue other personal interests.
In 2022, Hextar Healthcare diversified into the healthcare industry by acquiring test kit manufacturer Reszon Diagnostics International Sdn Bhd from Revongen Corp Sdn Bhd for RM180 million. It was satisfied via a combination of RM54 million cash and RM126 million Hextar Healthcare shares.
The acquisition was completed on Oct 31 and saw the emergence of Revongen as Hextar Healthcare’s second-largest shareholder with a 16.2 per cent stake. Revongen is 71.2 per cent owned by its Founder and Director EL Law. The remaining stake in Revongen is owned by Olympia Tier Sdn Bhd (23.8 per cent) and Neogon Holding FZE (five per cent).
EL Law is enthusiastic on the prospects for the healthcare industry. He said: “The acquisition of Reszon by Hextar Healthcare is synergistic as we strengthen the Group’s position in the broader healthcare business.
“Coming out of the pandemic, the demand for such products and services by the health-conscious population is expected to drive the market higher.” – The Health