Mirzan, who is also the eldest son of Malaysia's Prime Minister Mahathir Mohamad, became a substantial shareholder back in Sept 2014 after buying 10.8% of the company via a private placement at 26.05 cents per share.
He was voted out by shareholders at SBI Offshore’s annual general meeting (AGM) on June 29 as the executive non-independent chairman. He was appointed interim CEO shortly after, on July 3, which drew queries from the Singapore Exchange Regulation (SGX RegCo).
See: SBI Offshore's chairman Mirzan voted out at AGM, SGX RegCo to probe Mirzan Mahathir-linked SBI Offshore for potential breach of listing rules
