SINGAPORE - Flooring specialist Jason Holdings has announced the cessation of duties of its group chief executive and non-executive director Jason Sim Chon Ang.
In an exchange filing, the group said Mr Sim left his twin posts on May 28.
"With the liquidation of the company's wholly owned principal subsidiary, Jason Parquet Specialist (Singapore) Pte Ltd, Jason Sim Chon Ang is not able to play any role in the business and operations of the group as the company actively looks to inject new business into the group," Jason Holdings said, adding that Mr Sim was also "not involved" in the operations of the company's 60 per cent owned subsidiary, White Cubic.
As founder of Jason Holdings, Mr Sim was responsible for overseeing the sale and marketing team of wholly owned subsidiary Jason Parquet Specialist (Singapore), prior to its liquidation on June 10, 2016.
His brother, executive director Sim Choon Joo, ceased to be a company director on May 28.
The company's shares on the mainboard remain suspended from trading.
In the company's latest annual report, Jason Holdings stated that it is in the process of considering and evaluating various new businesses for acquisition.
The company was "actively looking for and negotiating with various potential parties" to inject new business into the company, aiming to eventually submit a resumption proposal to the Singapore Exchange to restart trading in the company's shares on the Catalist, said then non-executive chairman Lim Chwee Kim, who has since been redesignated executive chairman.