KUALA LUMPUR: Supermax Corp Bhd shares edged up yesterday following its managing director Tan Sri Stanley Thai’s apology to the government for supporting Malaysia’s opposition in 2013 and the subsequent resignation of chairman Tan Sri Rafidah Aziz.
The stock surged as much as 6.92 per cent or 18 sen and was among the top gainers in the morning trade. By noon, it was up 15 sen to RM2.73 from its opening of RM2.58.
Supermax, one of the world’s largest glovemakers, eventually settled 3.08 per cent higher to close at RM2.68 after hitting a 52-week high of RM2.78 during the day. It closed at RM2.60 on Friday.
On Sunday, Thai apologised to Prime Minister Datuk Seri Najib Razak for his involvement in politics, saying that he had regretted getting involved in the 13th General Election and believed that he had been influenced by the opposition.
Yesterday, the company announced Rafidah’s resignation effective last Saturday due to personal reasons.
It added in a statement that the board of directors shall identify a suitable candidate for her replacement.
She was appointed chairman of Supermax in 2015.
The former International Trade and Industry Minister still serves as chairman of AirAsia X Bhd, Megasteel Corp and Pinewood Iskandar Malaysia Studio.