Megan Holdings shares surge 12.11% intraday after appointing new independent director Phua Zhi Yong.

Megan Holdings surged 12.11% intraday after announcing the appointment of Mr. Phua Zhi Yong as a new independent director on November 21, 2025. The news followed a director resignation on October 31, 2025, and signaled corporate governance improvements, likely bolstering investor confidence. The timing of the appointment coincided with the intraday trading session, aligning with the stock’s upward movement.