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 the state’s water treatment and supply utility, effective December 31, 2024. The announcement was made in a filing with Bursa Malaysia, which cited the company’s adherence to Paragraph 15.05(3)(c) of the Main Market Listing Requirements.
According to this rule, a director’s position becomes vacant if they miss more than 50 per cent of board meetings during a financial year. Citing an unnamed source said to be close to the Penang government, news portal Free Malaysia Today reported that Jagdeep had missed meetings due to recent ankle surgery. A source close to the Penang government also explained that Jagdeep had missed meetings due to recent ankle surgery. “This is purely procedural as per Bursa’s rules. The chairman has the full discretion to reappoint Jagdeep,” the anonymous source was quoted as saying. PBAHB’s chairman, Chief Minister Chow Kon Yeow, has the discretion to reappoint Jagdeep, according to the source. The company clarified in the same filing that Jagdeep’s departure was not due to any disagreements with the board, and there were no unresolved matters requiring shareholder attention