Hong Kong: Tsoi Tin Chun has resigned as a non-executive director of beleaguered Titan Petrochemicals.
The Singapore citizen, originally from Fujian, founded the Hong Kong-listed company in May 2002. As well as chairman, he took on the role of chief executive in 2008. He resigned both top positions last year as the financial position of the group worsened.
Titan’s heavy debts have seen calls for it to be wound up. It is embroiled in a number of legal cases at present. [07/02/13]