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Companies & Markets

Blumont Group CEO Lee Tak Meng resigns

Sharon See

Sharon See

Published Mon, Nov 2, 2020 · 02:15 PM
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THE chief executive of mainboard-listed Blumont Group has resigned, the investment holding company announced on Monday night.

Lee Tak Meng, 62, who was appointed CEO in April last year, is leaving to pursue other growth opportunities, Blumont said in an exchange filing.

His last day with the company is Nov 30, it added, without specifying Mr Lee's replacement.

The group is one of three penny stocks said to have been manipulated, sending its price into a spectacular collapse in 2013. The penny stocks trial is ongoing.

Blumont closed flat at 0.2 Singapore cent on Monday.

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