Nobel Design's founder voted out of board

Singapore

THE founder and largest shareholder of Nobel Design Holdings, Bert Choong, who has lately been embroiled in a legal tussle with several members of the company's management, has been voted out of its board.

Despite pleas by several shareholders to the board to reconcile, owners of 68.78 per cent of some 187.56 million shares voted, at the firm's annual general meeting (AGM) on Tuesday, against re-electing Mr Choong as the company's non-executive director.

Veteran investor Mano Sabnani, who was involved in Nobel Design's initial public offering process in 1996 when he was the director of research at DBS Securities, described the contention within Nobel Design…