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KUALA LUMPUR (March 3): Jiankun International Bhd said one of its directors has been automatically removed for failing to attend the requisite number of board meetings.
The office of non-executive and non-independent director Datuk Yong Chong Long has been vacated, effective Monday, pursuant to Paragraph 15.05(3)(c) of the Main Market Listing Requirements, the loss-making property developer and builder said in a bourse filing.
The cited listing rule deals with the vacation automatic removal of a director’s office if they are absent from more than 50% of total board meetings during a financial year.
Yong had been on Jiankun’s board since October 2022.
Besides his now-vacant seat on the company’s board, Yong had also been a substantial shareholder.
Prior to his status as a substantdial shareholder ceasing in March 2024, his stake in the company had peaked at 8.166% when he first emerged in September 2022.
With Yong's departure from the board, the company appointed Chinese national Jun Zhang as a non-executive and non-independent director.
Jiankun has been in the red since the financial year ended Dec 31, 2022 (FY2022).
Its loss-making stint continued in the three months ended Dec 31, 2025 with a net loss of RM15.2 million, on a revenue of RM22,000.
In June last year, the company changed its financial year-end to end-December from end-June. Just a year prior, it changed its year-end to end-June from end-December.
For the 18 months ended Dec 31, 2025 (FY2025), net loss stood at RM22.32, on a revenue of RM8.16 million.
Shares in Jiankun ended unchanged at 3.5 sen, valuing the company at RM17.39 million.
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