The group said in a statement today that the name change will become effective after it is successfully filed with the Malaysian Companies Commission.
It further stated that the shareholders accepted all eight ordinary resolutions and one special resolution proposed at the company’s 20th Annual General Meeting (AGM.
These include the payment of RM324,000 directors fee for the fiscal year ending 2020, an RM75,000 cap on director benefits after the AGM, and the re-election of Edward Goh Swee Wang as its Chief Executive Officer and Datuk Kamaludin Yusoff as its independent non-executive director.
Crowe Malaysia PLT’s re-appointment as the group’s auditors was also approved by the shareholders.
In addition, the group stated that it intends to enter the real estate development market.
“We believe that this proposed diversification is the right step for our group’s growth as we are able to expand our income base to include property development activities, which would provide us with an additional source of revenue and earnings and reduce our dependence on the existing businesses,” it said in a news report.
Johore Tin primarily manufactures and trades various tins, cans, and other containers, as well as producing milk and other dairy products.