YNH Property board shake-up: Kuan Chon steps back as son voted out, nephews take top roles

• Just a year into his executive director role, Yu Jian Loong, 25, was one of three board members who were voted out after seeking re-election at the company’s AGM. According to a bourse filing, 46 shareholders representing 77.3% of votes cast opposed his re-election, while 18 shareholders holding 22.7% voted in its favour.

KUALA LUMPUR (Dec 17): YNH Property Bhd (KL:YNHPROP) announced a board shake-up on Wednesday, after the group’s largest shareholder Datuk Dr Yu Kuan Chon’s son failed to get re-elected at its annual general meeting (AGM) on Wednesday.

Just a year into his executive director role, Yu Jian Loong, 25, was one of three board members who were voted out after seeking re-election at the company’s AGM. According to a bourse filing, 46 shareholders representing 77.3% of votes cast opposed his re-election, while 18 shareholders holding 22.7% voted in its favour.

Also voted out at the AGM were independent non-executive director Ching Lee Fong and non-executive director Loh Sah Hooi. Independent director Koh Liong Boon was re-elected with 100% of the votes.

Later in the day, the company announced via a statement the appointment of Kuan Chon’s nephew Yu Kai Leun as group managing director and his other nephew Yu Kai Liang to the board as executive director.

Kai Leun, 35, and Kai Liang, 34, are group executive chairman Datuk Yu Kuan Huat’s sons. Kuan Huat is Kuan Chon’s brother.

Kuan Chon, who holds a 24.41% direct shareholding and 8.17% indirect shareholding in YNH Property, has also been redesignated from executive director to non-independent non-executive director.

YNH Property in its statement said Kai Leun, who joined the board as an executive director in December 2024, has been with the group for more than a decade, overseeing construction and development activities in Kuala Lumpur. He is responsible for the full project lifecycle, from planning and tender management to on-site execution and delivery.

He has played a key role in landmark developments including Kiara 163, Solasta Dutamas, 188 Suites KLCC, and Lot 163 KLCC.

“I would like to thank the board for the trust and opportunity to lead YNH into its next phase. The focus now is to strengthen execution discipline, sharpen priorities, and build a management culture centred on accountability and delivery,” Kai Leun said.

YNH Property said its refreshed leadership structure is aimed at giving management clear authority and responsibility while ensuring continuity and governance discipline at the board level. Its priorities include executing ongoing development projects, maintaining prudent capital and balance-sheet management, and selectively rebuilding its development pipeline as market conditions allow.

The changes come as Main Market-listed Rapid Synergy Bhd (KL:RAPID) announced that Kuan Chon will be redesignated as executive chairman, replacing Tan Sri Mazlan Lazim, effective immediately. Mazlan, 64, is redesignated as independent non-executive deputy chairman. Ousted Jian Loong also sits on the board of Rapid Synergy, in which Kuan Chon holds a total of 11.63% direct and indirect shareholding.

Shares in YNH Property closed unchanged at 28 sen on Wednesday, giving the group a market capitalisation of RM148.1 million. Rapid Synergy shares ended 1.5 sen, or 2.6%, lower at 56.5 sen, valuing the company at RM60.4 million.

Unlock Malaysia’s shifting industrial map. Track where new housing is emerging as talents converge around I4.0 industrial parks across Peninsular Malaysia. Download the Industrial Special Report now.