Karambunai Corp. Bhd announced that Mr. Chen Yiy Fon, the Chief Executive Officer and an Executive Director of the Company, will resign as a member of the Remuneration Committee of KCB with effect from 31 March 2018, in line with the recommendation of the Malaysian Code on Corporate Governance which stipulates that the remuneration committee should only consist of non-executive directors and a majority of them must be independent directors.