Nexgram co-founder Tey quits company

PETALING JAYA: Nexgram Holdings Bhd announced that Datuk Tey Por Yee has resigned from the company that he co-founded effective yesterday to "pursue his personal interests and goals".

In a stock exchange filing yesterday, Nexgram said Tey has resigned as its executive director as well as CEO and managing director.

Tey co-founded Nexgram, formerly Nextnation Communication Bhd, and has been its CEO and managing director since May 5, 2005.

In a separate announcement, Nexgram said How Han Lum, 39, will be its new CEO.

In another announcement, Nexgram said it is buying 51,000 RM1 shares for a 51% stake in logistics company Transeaways Shipping Sdn Bhd (TSSB) from Hopscoth Invest & Trade Inc for RM41.2 million.

Nexgram said the logistics sector in Kuantan, Pahang, where TSSB operates its business, has witnessed encouraging growth for the past few years and continues to be promising.

"Nexgram's telecommunication, media and technology division could complement the TSSB's operational flow by providing mobile tracking technology on top of its existing tracking and monitoring system," it said.