Country Heights CEO resigns after failing to restructure debts

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KUALA LUMPUR (Sept 17): Country Heights Holdings Bhd group chief executive officer (CEO) Datuk Low Kok Thai has resigned just six months after he was appointed to the post.

The resignation, effective today, was "due to his unsuccessful efforts in assisting Country Heights and its group of companies in restructuring the debts after exhausting all avenues with the local financial institutions", the group said in a filing with Bursa Malaysia.

Low, 49, was appointed as the CEO on March 15.

Country Heights shares were not traded today. The counter last traded at RM1.32 on Sept 6, giving the group a market capitalisation of RM361.1 million.