(This is reproduced from the posting I made on my Facebook Page on 19th May 2026.)

Two of the board members of HCK Capital Group Berhad, Tan Sri Prof Dato Dr T Marimuthu, at a healthy 90 years old, and Stephen Wan Yeng Leong, 58, are retiring and will not seek reelection at its upcoming annual general meeting in June. The Securities Commission guidelines require that independent directors would have to change their status to non independent if they’ve been on the board for 12 years or more. I guess the rationale behind this rule is that if they have been in the same place for too long, they will get too familiar with the management, which may erode their independence.

Tan Sri Marimuthu was a prominent Malaysian politician, academician, and educator. He is recognized for his contributions to education and for his public service, having been a respected professor at the University of Malaya, specializing in sociology, diaspora, and international relations. Besides being a well known academician, he was a former Fulbright Visiting Scholar.

Stephen Wan has over 30 years of professional experience in corporate work, particularly in takeover, merger and restructuring exercises as well as internal audit. He’s a committee member of the Capital Market Advisory Committee of MIA. Stephen is also the Managing Partner of Moore Stephens Associates PLT, a network of independent accounting and consulting firms, at its Kuala Lumpur office.

I think the both of them have given HCK great fiduciary oversight and strategic direction with their engagement in fruitful discussions and giving well articulated opinions at our directors’ meetings. When we do things with a lot of transparency and commitment, the output will be reflected by the input provided. Corporate leaders may eventually move on, but the impact of thoughtful leadership and principled decision-making endures.