KUALA LUMPUR (Aug 1): Berjaya Sports Toto Bhd (BToto) has appointed Tan Sri Tan Kok Ping as non-independent and non-executive chairman of the group effective immediately, replacing Cheah Tek Kuang who has resigned.
Tan was previously the managing director and deputy chairman of BToto from 1992 to 2001. Currently, he is the executive chairman and major shareholder of Magni-Tech Industries Bhd.
In a filing with Bursa Malaysia today, BToto said Cheah, 71, has tendered his resignation, citing his desire to pursue other interests.

According to BToto's Annual Report 2017, Cheah was appointed to the board of the group on July 25, 2012 as the chairman.

He is presently an independent non-executive director of IOI Corporation Bhd, UMW Oil & Gas Corp Bhd and Eco World International Bhd. He is also a director of Yayasan Bursa Malaysia.

Cheah was appointed a Justice of Peace by the Sultan of Selangor in 1999.

In a separate filing, the group said Tan, 71, has more than 40 years of experience in various business sectors which include property development, manufacturing of consumer electronics, garment, corrugated and plastic packaging products.

Tan has also served as non-executive chairman of Berjaya Retail Bhd, chairman of Penang Joint Chambers of Commerce and deputy president of The Associated Chinese Chambers of Commerce and Industry of Malaysia.

He also sits on the board of a subsidiary of Berjaya Land Bhd, as well as in several other private limited companies. He is the executive adviser and former president of the Penang Chinese Chamber of Commerce.

BToto shares closed up one sen or 0.42% to RM2.37 today, with 225,200 shares done, bringing it a market capitalisation of RM3.21 billion.