Pestec denies constructive dismissal of CEO Lim Pay Chuan
KUALA LUMPUR: Pestec International Bhd has announced that Lim Pay Chuan has ceased to serve as group chief executive officer.
In a filing with Bursa Malaysia, the construction engineering firm said that on July 1, 2025, Lim issued a letter to the company alleging constructive dismissal.
He subsequently filed a representation under Section 20 of the Industrial Relations Act 1967 with the Industrial Relations Department on July 2.
'The company issued a reply letter dated July 2, denying the allegation of constructive dismissal and requested that he returns to work,' Pestec said.
Pestec said a reconciliation meeting was held on July 14 by the Jabatan Perhubungan Perusahaan Selangor, attended by representatives from both the company and Lim.
'During the said meeting, Lim was requested to resume his duties at the company, which he declined to do. The matter was deliberated by the Board on July 17.
'After due consideration, the Board resolved that an announcement be made on the cessation of Lim from office. Consequently, Lim will be redesignated as a non-independent non-executive director,' it said.
'The company categorically denies Lim's allegation of constructive dismissal and reserves all its rights in this regard. The Board wishes to assure all its shareholders and other stakeholders that this will have no impact on the group's operations,' Pestec said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
12 hours ago
- The Star
Pestec denies constructive dismissal of CEO Lim Pay Chuan
The company said the contract is expected to provide additional revenue for the group in the next four years. KUALA LUMPUR: Pestec International Bhd has announced that Lim Pay Chuan has ceased to serve as group chief executive officer. In a filing with Bursa Malaysia, the construction engineering firm said that on July 1, 2025, Lim issued a letter to the company alleging constructive dismissal. He subsequently filed a representation under Section 20 of the Industrial Relations Act 1967 with the Industrial Relations Department on July 2. 'The company issued a reply letter dated July 2, denying the allegation of constructive dismissal and requested that he returns to work,' Pestec said. Pestec said a reconciliation meeting was held on July 14 by the Jabatan Perhubungan Perusahaan Selangor, attended by representatives from both the company and Lim. 'During the said meeting, Lim was requested to resume his duties at the company, which he declined to do. The matter was deliberated by the Board on July 17. 'After due consideration, the Board resolved that an announcement be made on the cessation of Lim from office. Consequently, Lim will be redesignated as a non-independent non-executive director,' it said. 'The company categorically denies Lim's allegation of constructive dismissal and reserves all its rights in this regard. The Board wishes to assure all its shareholders and other stakeholders that this will have no impact on the group's operations,' Pestec said.
New Straits Times
15 hours ago
- New Straits Times
Pestec redesignates CEO Lim Pay Chuan as non-executive director
KUALA LUMPUR: Lim Pay Chuan has ceased to hold office as group chief executive officer of Pestec International Bhd and has been redesignated as a non-independent non-executive director. In a filing with Bursa Malaysia, Pestec said Lim had submitted a letter to the company on July 1, claiming he was constructively dismissed. He subsequently filed a representation under Section 20 of the Industrial Relations Act 1967 with the Industrial Relations Department on July 2. Pestec, in its response on the same day, denied the allegation of constructive dismissal and requested that Lim return to work. The company said a reconciliation meeting was held on July 14, chaired by the Industrial Relations Department in Selangor, and attended by representatives from both parties. "During the said meeting, Lim was requested to resume his duties at the company, which he declined to do. The matter was deliberated by the board on July 17, 2025. "After due consideration, the board resolved that an announcement be made on the cessation of Lim from office. Consequently, Lim will be redesignated as non-Independent non-Executive director," the filing said. Pestec firmly rejected Lim's claim of constructive dismissal and stated that it reserves all its legal rights on the matter. The company also assured that the change in leadership will not affect its business operations In a separate filing, Lim Ah Hock, 73, who is Pay Chuan's uncle, has been redesignated from his role as non-executive vice and deputy chairman to non-independent non-executive director.
Malaysian Reserve
2 days ago
- Malaysian Reserve
i-Saraan financial awareness programme empowers younger generation
GEORGE TOWN — The Employees Provident Fund's (EPF) i-Saraan programme is an important initiative in empowering the younger generation through financial knowledge and awareness. Deputy Finance Minister Lim Hui Ying (picture) said aside from helping self-employed individuals such as small traders, farmers, fishermen and housewives, it is now also open to teenagers as young as 14 years old. 'This move will help to instil a savings culture and build financial management awareness from a young age so that future generations are better prepared and resilient in facing economic challenges,' she said in her speech at the EPF i-Saraan Contribution Presentation Ceremony for Tanjong B40 Students here today. The programme was attended by students and teachers from five schools: St. Xavier's Institution, Kolej Tingkatan Enam Hutchings, SMK Westlands, SMKA Perempuan Al-Mashoor, and the Penang Methodist Girls School. According to Lim, who is also the Tanjong Member of Parliament, each ringgit saved is an investment for the future, and through the i-Saraan scheme, contributors will receive a matching annual government incentive of 20 per cent, which is capped at RM500, with a lifetime maximum of RM5,000. Lim said that in 2024, the government allocated RM114.8 million for the i-Saraan scheme, benefiting more than 529,000 contributors. 'As a sign of my support for this initiative, I have taken the step to contribute RM10,000 to open i-Saraan accounts for 200 students from the B40 group. 'Each student will receive RM50 to start with, and I hope that this is not just about opening an account but also a symbol of our confidence in your potential to take this step towards financial literacy,' she said. — BERNAMA
