Noor Kamarul to be CEO at TM

Datuk Noor Kamarul Anuar Nuruddin is expected to be named as group CEO of Malaysia’s largest fixedline operator Telekom Malaysia Bhd (TM), which has seen its fortunes reversed in the last few quarters.

According to a source close to the development, Noor Kamarul — who was with Celcom Axiata Bhd for over 13 years, including as the cellular operator chief special project officer — is likely to be named for the No 1 post at the telecommunication company.

A few other names have also been speculated for the top post. Speculations of who will become the CEO of the government-linked company intensified following reports that the current acting group CEO Imri Mokhtar will no be appointed to the top post.  TM has not announced the name of the CEO as of yesterday.

The 44-year-old Imri was appointed as the acting group CEO last November following the departure of the previous acting group CEO Datuk Bazlan Osman.

The telecommunication company has been without a permanent group CEO after Datuk Seri Mohammed Shazalli Ramly resigned from the company in June last year.

Imri was initially proposed to the Ministry of Finance (MoF) to cement the position, but the appointment hit an impasse.

TM in a statement recently clarified a report that the board of directors in November 2018 recommended Imri as MD and group CEO to TM’s special
shareholder — MoF.

However, the chairman of the board Rosli Man received a request from the Prime Minister’s Office (PMO) to defer the appointment.

“We believe that it is good corporate governance to engage key stakeholders including the PMO,” said TM in a statement.

A report recently said Rosli had blocked Imri’s appointment which TM had denied.

Prime Minister Tun Dr Mahathir Mohamad last week said the CEO for the telecommunication company has been appointed but he did not name the person.

“He (TM’s CEO) has been appointed. They have not announced yet, but I think he has been appointed,” he was reported as saying.

Dr Mahathir is Khazanah Nasional Bhd chairman. Khazanah is TM’s biggest shareholder.

TM had a difficult 2018 as net profit plunged to almost 84% to RM153.15 million compared to RM929.75 million recorded in 2017. But the drop in net profit was largely due to the large impairment provision of RM982.5 million.

The company’s profit, however, almost doubled to RM308.3 million in the first three months of this year compared to RM157.2 million recorded a year ago. — TMR