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- Lim is succeeded by Fong Tuck Yong, 52, effective June 20. The company said Fong has more than 30 years of experience in leading and overseeing construction projects.
KUALA LUMPUR (June 20): Ecobuilt Holdings Bhd's (KL:ECOHLDS) chief executive officer Lim Chin Yen has resigned after just four and a half months at the helm of the construction company.
In a bourse filing on Friday (June 20), the company said Lim, 48, resigned “to dedicate more time to family and pursue personal interest”.
Lim is succeeded by Fong Tuck Yong, 52, effective June 20. The company said Fong has more than 30 years of experience in leading and overseeing construction projects.
Ecobuilt has been in the red for the past three years. It posted a loss after tax of RM44.5 million in FY2024, RM31.1 million in FY2023 and RM13.6 million in FY2022, according to its annual report.
The FY2024 result reflects a 15-month financial period—from June 1, 2023, to Aug 31, 2024—following a change in the company's financial year-end from May 31 to August 31.
The company remained in the red for its latest quarter. It posted a net loss of RM584,000 for the second quarter ended Feb 28, 2025 (2QFY2025) on the back of revenue of RM15.48 million. There is no comparative year-on-year figure due to the change in the company's financial year.
The company noted that the gross profit generated from ongoing projects during the quarter was insufficient to offset operating expenses, which mainly consisted of depreciation and staff costs.
Ecobuilt’s shares closed up half a sen or 20% to three sen on Friday, bringing the group a market capitalisation of RM13 million. The stock has fallen 54% over the past one year.
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