KUALA LUMPUR (Jan 16): Fashion group Carlo Rino Group Bhd (CRG) has appointed former chairman of Visdynamics Holdings Bhd Vincent Loh as its independent and non-executive chairman, effective immediately.

Loh, 73, succeeds Datuk Ng Peng Hong @ Ng Peng Hay, who resigned due to work commitments, Carlo Rino's bourse filing showed. Carlo Rino is in the midst of transferring its listing from Bursa Malaysia's Leading Entrepreneur Accelerator Platform (LEAP) Market to the ACE Market.

Ng holds directorships in a number of public listed companies, including Bonia Corp Bhd and Wellcall Holdings Bhd. Currently, he is the group non-independent non-executive chairman of Wellcall and also a senior non-independent and non-executive director of Bonia.

In 2022, Loh stepped down as independent non-executive chairman of Visdynamics after serving the company for more than 12 years, in accordance with the Malaysian Code on Corporate Governance and ACE Market Listing Requirements.

Visdynamics is involved in the design, assembly and testing of back-end equipment in the automated test equipment industry for semiconductors.

On top of Loh's appointment, Carlo Rino also appointed three new independent and non-executive directors, namely Chin Peck Li, Lim Lay Ching and Kam Sin Lin.

Chin is also an independent non-executive director of both Visdynamics and MyMBN Bhd, a bird’s nest processing company. Lim is an independent and non-executive director of steel maker CSC Steel Holdings Bhd.

Carlo Rino closed unchanged at 21.5 sen on Tuesday for a market capitalisation of RM173 million.