Perstima group managing director Kazumi Saito resigns
The tin plate manufacturer cited a new assignment for Kazumi Saito, whose resignation took immediate effect.
Perusahaan Sadur Timah Malaysia Bhd announced on Oct 30 that Kazumi Saito had stepped down as group managing director with immediate effect, ending a tenure of more than two years.
In its bourse filing, the tin plate manufacturer attributed the departure of Kazumi, 61, to a new assignment. He became group managing director on April 1, 2024.
The group reported a net loss of RM7.76 million for 1QFY2027, which ended on June 30, 2026. That compared with a net loss of RM2.19 million in the corresponding quarter a year earlier.
Revenue was RM211.8 million, a decline of 42.9% from RM371.14 million, as both sales volume and selling prices fell.
In an August filing, the group said it expected difficulties to persist throughout the financial year. It cited fluctuations in foreign exchange rates and raw material prices, increased energy costs and shipping disruptions linked to tensions in the Middle East.
Perstima shares closed at 72 sen, down one sen or 1.37%, giving the company a market capitalisation of RM93 million. The stock had declined 60% year-to-date.
