He will be succeeded by the current COO of township development Wan Hashimi AlBakri

by FARA AISYAH / pic by ISMAIL CHE RUS

Datuk Seri Amrin Awaluddin (picture) will resign as group MD of Sime Darby Property Bhd effective May 3, 2019.

In an exchange filing yesterday, the board of directors accepted the early cessation of his employment contract.

“The board would like to record our appreciation to Amrin for his service and contribution to the group. We wish him all the best in his new undertaking as he continues his career going forward,” Sime Darby Property chairman Tan Sri Dr Zeti Akhtar Aziz said in a statement yesterday.

He will be succeeded by the current COO of township development Datuk Wan Hashimi AlBakri Wan Ahmad Amin Jaffri.

Wan Hashimi AlBakri will assume the acting group CEO position, while the board will carry out the immediate process of selecting a replacement. A business daily reported yesterday that Amrin is set to assume the group MD position at Boustead Holdings Bhd, quoting sources.

Amrin was appointed as a director of the company on July 12, 2017, before subsequently appointed as the group MD on Aug 24, 2017.

Prior to joining Sime Darby Property, he was group MD of Media Prima Bhd from 2009. He also sits on the board of Taliworks Corp Bhd and CIMB Bank Bhd.

He will cease as a member of the board tender committees with effect from May 3, 2019.

Accordingly, the composition of the board tender committees will include Tengku Datuk Seri Ahmad Shah Alhaj ibni Almarhum Sultan Salahuddin Abdul Aziz Shah Alhaj as the chairman; as well as Datuk Jaganath Derek Steven Sabapathy; Datuk Seri Ahmad Johan Mohammad Raslan and Rizal Rickman Ramli as the members.

Wan Hashimi AlBakri was the former CEO of Negara Properties (M) Bhd — which is now part of the group and he has been with Sime Darby Property for almost 15 years.

Sime Darby Property is one of the top developers in the country. The company recorded total sales of RM1.34 billion for the sixmonth financial period ended Dec 31, 2018 — 30% higher than its initial target of RM1 billion.

The group has set a RM2.3 billion sales target for the financial year ending Dec 31, 2019.

Sime Darby Property posted a revenue rise of 7.9% to RM1.27 billion for the sixmonth period due to the improved performance of its property development and concession arrangement segments.

The company posted a loss of RM318.7 million, largely due to impairments, negative contribution from the Battersea Power Station project and higher tax provisions.