KUALA LUMPUR (Feb 9) — GDB Holdings Bhd has introduced several changes to its board of directors following notable shifts in its major shareholdings.
Datuk Seri Chia Lui Meng has stepped down as non-executive chairman after more than eight years in the role, citing personal commitments. He is succeeded by Clement Wong Teck Hoo, who had been serving as an independent director since mid-December 2025.
Clement, 45, is the founding and managing partner of a legal and advisory firm based in Kuching, Sarawak. According to company disclosures, he brings more than two decades of experience in legal practice, corporate compliance and advisory work, which is expected to support the group’s governance and strategic direction.
In another appointment, Dasmand Wong Wei Ming, 42, has joined the board as executive director. He is the owner of Vertex Consulting Company and also holds a senior regional leadership role at Zhejiang Southeast Space Frame Co Ltd, a China-listed specialist in steel structure engineering. His professional background includes more than 15 years of management experience within a diversified, family office-backed business group operating in sectors such as manufacturing, logistics, forestry and plantations.
At the same time, GDB has seen significant changes among its substantial shareholders. Original promoters Cheah Ham Cheia and Alexander Lo Tzone Leong, who had been the company’s largest shareholders since its ACE Market listing in 2018, have gradually reduced their stakes since December 2025.
The share sales have enabled a new substantial shareholder, Andy Lai Wee Young, 32, to emerge with a 13.12% interest. Lai has also been appointed executive director and acting group managing director, signalling a shift in leadership as the company enters its next phase of growth.
Despite the disposals, Cheah remains the largest shareholder, holding 17.64% through CHC Holdings Sdn Bhd, a reduction from his previous stake of nearly 49%. Lo has similarly trimmed his holding to 11.34%, down from just over 21%.
Operationally, GDB recently secured two road construction projects in Sarawak with a combined value of RM121.4 million, marking the group’s first expansion into the East Malaysian infrastructure market.
For property and construction market observers, leadership changes within contractors and builders are closely monitored, as these firms often play key roles in delivering industrial and commercial developments. Their pipeline and financial health can influence activity in segments such as industrial land in Selangor, factories in Puchong, and industrial property in the Subang area, as well as the supply of commercial property in KL and office space in Bukit Jalil, where construction timelines and contractor capacity can directly affect project launches and completions.
As GDB undergoes board and ownership transitions, stakeholders will be watching how the refreshed leadership team shapes the company’s expansion strategy, particularly in infrastructure and construction sectors that remain closely linked to Malaysia’s broader property and industrial growth.
Malaysia