For Immediate Release
LBS INCREASES FEMALE DIRECTORS ON BOARD
Female board representation increases to 25%
Petaling Jaya, 14 January 2022 – LBS Bina Group Berhad (“LBS” or the “Group”) today announced the appointment of Dato’ Yong Lei Choo (“Dato’ Yong”) as its new independent non-executive director, member of LBS’ Remuneration Committee and Risk Management Committee, effective 14 January 2022. She will replace Datuk Lim Tong Lee who will retire from the LBS board.
With Dato’ Yong’s appointment, LBS will have 2 female directors on its board, which translates to a 25% female composition. The higher female composition allows for increased diversity as LBS supports the push for greater women representation in boardrooms. To add on, it is part of LBS’ increasing focus on ESG as it creates a company guided by a robust corporate governance framework.
Commenting on the appointment, LBS Executive Chairman Tan Sri Lim Hock San said, “LBS values diversity and experience. We have already met the mandatory requirement for female board representation in the form of Dato’ Lim Mooi Pang who has been on the LBS board since 2009. We are indeed pleased to have Dato’ Yong Lei Choo, a veteran of the Royal Malaysian Police Force, onboard. With her experience and background, I am confident Dato’ Yong will do a tremendous job in her new role, providing us with sound advice and unique viewpoint as management works to steer LBS forward. We hope our shareholders recognise our efforts in providing appropriate corporate governance oversight in LBS as we advocate for gender diversity and equality in our board.”
In addition, the Group announced the re-designation of current Managing Director, Datuk Wira Lim Hock Guan to Group Managing Director/Chief Executive Officer as well as the resignation of Dato’ Sri Lim Hock Seong and Lim Kim Kiat as Executive Directors of LBS and their subsequent appointments as Deputy Chief Executive Officers of LBS. The resignations will streamline LBS’ board towards an equal representation of 4 executive directors and 4 independent non-executive directors, as compared to a 6:4 ratio previously. This is part of LBS’ step towards implementing a stronger and more active corporate governance structure within the Group.
About Dato’ Yong Lei Choo
Dato’ Yong holds a Bachelor of Arts (Hons) (Population Studies) from University of Malaya and a Master of Science (Human Resource Development) from Western Carolina University, North Carolina, USA.
Dato’ Yong, who hails from Jasin, took up her first position in the Royal Malaysian Police Force with the Taiping district police in Perak following completion of her cadetship in 1986. She had a distinguished career in the police force for nearly 36 years before retiring in October 2021 as the Deputy Chief Police Officer of Kuala Lumpur. Notable achievements while with the police force include being the first female Head of Special Branch in the Petaling Jaya Police District (1998); first Chinese woman with the rank of Senior Assistant Commissioner (2009); first female Special Branch Chief of Penang Police Contingent (2015) and the first female Assistant Principal Director of the Special Branch (Economic Intelligence Division). Her outstanding performance garnered her a federal scholarship from the Public Service Department to pursue her Master’s Degree in North Carolina, USA (1995-1997). In 2009, she was conferred the Darjah Indera Mahkota Pahang by the Sultan of Pahang.