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Abdul Karim Abdullah resigns as KPOWER (7130): KUMPULAN POWERNET BHD chairman

Karim, together with Grand Deal Vision Sdn Bhd, emerged as the majority shareholders of KPower after assuming majority ownership in 2019.

KUALA LUMPUR: Datuk Dr Mohd Abdul Karim Abdullah has resigned from KPower Bhd as its non-independent non-executive chairman effective immediately.  

KPower, in a statement today, deputy chairman Mustakim Mat Nun would assume the chairman's position temporarily.  

Karim, together with Grand Deal Vision Sdn Bhd, emerged as the majority shareholders of KPower after assuming majority ownership in 2019.

Since then, Karim and the new management team had transformed KPower from a loss-making manufacturing business into a renowned and indomitable player in the renewable energy industry, the company said.

Under the new leadershi, KPower said it had also diversified its business into the healthcare and logistics business segments.

Karim is also Serba Dinamik Holdings Bhd group managing director and chief executive officer.

Serba Dinamik has been under scrutiny since May this year following an audit issue flagged by its then external auditor KPMG in May about some allegedly questionable transactions worth over RM4.5 billion.

Since then, Serba Dinamik has been in legal tussles with Bursa Malaysia and EY Consulting, as well as KPMG over the audit issue.

The company has also failed to submit its annual report for the financial year ended June 30, 2021 on time, despite getting a one-month extension up to November 30 to submit the report, together with its annual audited financial statements, as well as auditors' and directors' reports.

https://www.nst.com.my/business/2021/12/754085/abdul-karim-abdullah-resigns-kpower-chairman

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