Tycoon Quek Leng Chan relinquishes chairman role at Guoco

Tycoon Tan Sri Quek Leng Chan has relinquished his position as the chairman and stepped down from the board of one of his key companies, the Hong Kong-listed Guoco Group Limited. Quek left the Guoco on 1 Sept, according to a filing by the company.

Besides that, he also renounced his role as a director and chairman of Singapore-listed GL Limited (formerly known as GuocoLeisure) last Friday with reason stated being an internal restructuring of the Hong Leong group, according to both companies' filing.

“Quek confirmed that he has no disagreement with the board and that there is no matter in relation to his relinquishment that needs to be brought to the attention of the shareholders of the company,” Guoco said in a statement.