KUALA LUMPUR (July 25): BTM Resources Bhd said Yong Hin Siong has resigned as its executive director with effect from Tuesday (July 25).

The loss-making logging company's filing with Bursa Malaysia cited "voluntary resignation" as the reason for Yong’s departure from the company.

Yong, 43, who holds a 0.21% stake in BTM, was appointed to the role in May 2014.

He is the son of BTM managing director Datuk Seri Yong Tu Sang and BTM's major shareholder To Puan Ng Ah Heng.

He is also the brother of BTM non-executive director Yong Emmy, who ceased being a substantial shareholder in the company recently, after reducing her stake in the company to 4.48% via the disposal of a 0.96% stake.

BTM named Tan Boon Pock as the group’s executive director on July 18.

BTM’s shares closed down half a sen or 5.26% at nine sen, valuing the group at RM113.08 million.

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