Mirzan bin Mahathir, who was appointed as interim CEO of SBI Offshore from July 3 to August 31 to facilitate the progression of SBI Offshore’s proposed acquisition of the Berlitz group of companies, is no longer in the position.

The cessation is due to the expiry of Mirzan’s employment contract and follows the lapse of the share sale agreement with Berlitz.

Mirzan, who is also the eldest son of Malaysia's Prime Minister Mahathir Mohamad, became a substantial shareholder back in Sept 2014 after buying 10.8% of the company via a private placement at 26.05 cents per share.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook