The Transmile Group Bhd has redesignated non-executive director Liu Tai Shin as managing director to replace outgoing Wong Yoke Ming, the company said recently. It is believed Wong’s resignation is a signal that the restructuring scheme at the troubled air cargo freight forwarder is almost completed.
Liu and Wong joined Transmile in June last year as part of a new team brought in to tackle the huge financial problem that arose from the discovery of massive accounting frauds over a three-year period.
Both men are accountants by training and, together with the new management, were tasked with reviving the ailing firm.