Main Market-listed apparel maker Prolexus Bhd (“Prolexus” or “Group”) is entering a new era with the guidance of a newly-realigned boardroom as its veteran leader, Lau Mong Ying, resigned from the group managing director position.
Lau will take leave from the Board that he has been involved with for nearly three decades and move to an advisory role to the Group instead. His appointment as the Group’s Advisor will add value to the Group, given his leadership skills, knowledge and vast experience in the industry.
Lau Mong Fah, the brother of Lau Mong Ying and Boo Chin Liong, have also resigned from the Board. Meanwhile, Tan Eik Huang, who also sits on the Board of YB Ventures Bhd, has been redesignated as the Group’s Executive Director.
The appointment of Tan suggests that Prolexus is ready to move on to the next phase of growth under new leadership with the emergence of YB Ventures as the Group’s substantial shareholder.
Mr Tan Eik Huang (陈艺宏), the newly appointed Executive Director of Prolexus, said, “We are excited to take on this new growth phase with Prolexus Bhd. I wanted to take this opportunity to thank the Lau’s family for their commitment to the Group. Particularly, Mr Lau Mong Ying, who has played an important role in driving sustainable growth for the company in nearly three decades. The economic moat demonstrates his leadership skill that he has built for the Group.
We are honoured that he has agreed to remain as the Advisor to the Group. His experience in running Prolexus will play an important role to help the new leadership team to take on the baton from him.”
According to Tan, the Group’s first agenda is to streamline the manufacturing process within Prolexus to harness the synergistic strength that could result in potential economies of scale.
“Both Prolexus and YB Ventures have very strong and dynamic manufacturing capabilities that put us in a good position to leverage on our strength. It is important for us to streamline our manufacturing processes and take advantage of our manufacturing capabilities to harness synergistic strength going forward and to mitigate the risks in an inflationary environment,” Tan said.
With the expected surge in inflation amidst the geopolitical tension, shortage of labour, logistic bottlenecks and other disruptions in the post-COVID world, Prolexus will focus on the synergy with YB Ventures.
According to Tan, this will help the Group to withstand the surge in costs and maintain the Group’s profitability.
“Our main objective is to add value to our shareholders by enhancing the Group’s manufacturing capabilities and efficiency. We are confident that by building strong fundamentals, our expansion and growth trajectory will materialise in the near-term,” he added.
This content is provided by Aegis Communication Sdn Bhd.
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