Rich Capital sees its 6th director's resignation in a year

CATALIST-LISTED Rich Capital Holdings saw its sixth director's resignation in a year, with the latest being that of independent non-executive director Chow Wen Kwan.

In a regulatory filing on Jan 19, the resignation of Mr Chow as Rich Capital's independent non-executive director was announced. He was appointed slightly less than a year ago, on Jan 22.

He was a member of the nominating, remuneration and audit committees of Rich Capital, formerly known as Infinio Group.

The reason for Mr Chow's resignation was "to focus on other current commitments". The lawyer sits on the board of another five listed companies, not including Rich Capital.

This is Rich Capital's sixth director's resignation in a year, including three executive directors who quit.

The company made known in mid-January its decision to expand into the construction business with the proposed acquisition of two construction companies for up to S$43.98 million.