Velocity Capital Partner Bhd, which has been in the spotlight in recent months, announced on Friday that executive director See Toh Kean Yaw has resigned from his position, effective immediately. According to a filing with the stock exchange, See’s departure is “to pursue other interests.”
This move comes just a month after See stepped down from his role as a non-independent, non-executive director on the board of MMAG Holdings Bhd, also citing a desire to focus on other interests.
See, 53, who is a chartered accountant, had been serving on Velocity Capital’s board — formerly known as CSH Alliance Bhd — since December 2023. He joined MMAG’s board in March 2025, the same month that Velocity Capital became a substantial shareholder in MMAG with a 6.46% stake.
Velocity Capital later exited its investment in MMAG in early January this year, with See resigning from MMAG’s board on January 19. In addition to his roles at Velocity Capital and MMAG, See currently serves as an executive director at Harvest Miracle Capital Bhd (KL:HM).
Velocity Capital’s involvement in MMAG coincided with the emergence of other significant investors. In March 2025, NexG Bhd (KL:NEXG), formerly Datasonic Group, and Datuk Seri Farhash Walfa Salvador also became major shareholders in MMAG. Farhash rose to prominence as MMAG’s largest shareholder, holding a 20% stake, and was subsequently appointed as the company’s chairman. NexG acquired a 9.53% stake at the same time.
Farhash exited MMAG on December 31, 2025, while NexG’s holding remains unchanged. Both Velocity Capital and Farhash reportedly sold their stakes at a loss, with Velocity Capital estimated to have incurred losses exceeding RM50 million, while Farhash’s divestment resulted in estimated losses of over RM97 million.
Despite these high-profile exits, shares in Velocity Capital ended unchanged at five sen on Friday, valuing the company at RM69.07 million.
See’s resignation marks the latest in a series of strategic moves by Velocity Capital as the company continues to recalibrate its portfolio following its recent high-profile investments and divestments.
