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MM2 Asia announced the redesignation of Melvin Ang as executive chairman following the relinquishment of Tan Liang Pheng as the company's non-executive chairman.
Mr Ang remains MM2's chief executive officer and executive director while Mr Tan has been appointed as lead independent director.
As executive chairman, Mr Ang will supervise the group's overall business operations and management and planning while providing executive leadership and supervision to the senior management team.
MM2 shares finished one Singapore cent or 2.1 per cent higher to close at 48.5 Singapore cents on Monday.