Corporate results: UEM Edgenta, Boustead, Warisan TC, Kenanga Investment Bank and Credit Guarantee Corp

by TMR/ pic by BERNAMA

Syahrunizam Samsudin joins UEM Edgenta as MD/CEO

FORMER Touch ‘n Go Sdn Bhd CEO Syahrunizam Samsudin (picture) officially joined UEM Edgenta Bhd as its new MD/CEO yesterday, UEM Edgenta said in a statement. The asset management and infrasolutions company has been led by its C-level executives through a committee appointed by its chairman and board of directors since Datuk Azmir Merican Azmi Merican departed as MD/CEO in April 2020 to lead Sime Darby Property Bhd. During his tenure at Touch ‘n Go, Syahrunizam oversaw its growth in the digital financial services sector. He brings with him over 24 years of corporate sector experience in engineering and technology which will play an important role in UEM Edgenta’s next phase of product expansion, innovation and growth. The group had earlier announced Syahrunizam’s appointment in a May 12 exchange filing.

Boustead appoints Izaddeen Daud as ED, Fahmy Ismail ceases to be COO

BOUSTEAD Holdings Bhd has appointed Izaddeen Daud as executive director of group business development effective July 1, 2020, the group said in a statement. Izaddeen, 51, will facilitate the group’s growth by bringing in new businesses, generating synergies between companies within the group and assisting in supervising the unlisted companies under the group’s trading, finance and investment division. He first joined the board as an independent non-executive director on May 18, 2020. Meanwhile, Boustead Holdings’ group finance director Fahmy Ismail has ceased to be COO of the company, in order to helm and focus on the group’s finance roles. He was appointed as COO on Jan 1 last year. Fahmy joined the firm as a corporate planning manager in 2006 and was CEO of Boustead Plantations Bhd from 2014 to to June 2018. He assumed the role of financial services director of Boustead Holdings in Jan 2017 before rising to his current position of group finance director starting Oct 2017.

Warisan TC gets licence to make and sell Chinese firm JMC’s Yuhu7 pickup truck

WARISAN TC Holdings Bhd, through its wholly-held subsidiary Angka-Tan Motor Sdn Bhd (ATM), will be given a sole and non-transferable right to manufacture, assemble and sell Jiangling Motors Corp Ltd’s (JMC) Yuhu7 pickup truck and its components in Malaysia. In an exchange filing yesterday, the group said ATM entered into a vehicle technology licensing (VTL) contract with JMC on July 1 to formalise the collaboration between ATM and Jiangling for the licence. Jiangling is a China-based auto firm controlled by Nanchang Jiangling Investment Co Ltd and Ford Motor Co. The five-year VTL contract will allow ATM to use Jiangling’s technology to manufacture and sell Yuhu7 and its components in Malaysia. Warisan TC said the project will provide business expansion opportunities, thus broadening its earnings base. The contract may be subject to Malaysian and Chinese government approval, which if required, will be sought within three months following the execution date of the contract or such other mutually agreed extended date.

Kenanga Investment Bank appoints Syed Zainol Anwar as chairman

KENANGA Investment Bank Bhd has appointed Tan Sri Syed Zainol Anwar Ibni Syed Putra Jamalullail as non-executive chairman effective July 1, succeeding Izlan Izhab. Syed Zainol, 68, is currently chairman of Nestle (Malaysia) Bhd and its nomination and compensation committee, and a member of its audit committee. He is also chairman of S P Setia Bhd and Lembaga Zakat Selangor, and chancellor of SEGi University. Syed Zainol previously served as chairman of Cahya Mata Sarawak Bhd, EON Bank Bhd, Uni Asia Life Assurance Bhd, Uni Asia General Insurance Bhd, DRB-Hicom Bhd, Malaysia Airports Holdings Bhd, Malakoff Corp Bhd, Media Prima Bhd, Malaysian Resources Corporation Bhd, Lembaga Tabung Haji’s Investment Panel and Pulau Indah Ventures Sdn Bhd. He has a Bachelor of Arts in Accounting from Macquarie University, Australia and is a member of the Malaysian Institute of Accountants and the Certified Practising Accountants (CPA) Australia.

CGC appoints Datuk Mohammed Hussein as chairman

CREDIT Guarantee Corp Malaysia Bhd (CGC) has appointed Datuk Mohammed Hussein as its new chairman effective July 1, 2020, succeeding Datuk Agil Natt who stepped down on June 30 after helming the post for seven years. Agil was appointed as chairman and independent non-executive director of Affin Bank Bhd on Nov 8 last year. Mohammed Hussein is currently the independent non-executive chairman of Gamuda Bhd, Hap Seng Plantations Holdings Bhd and Syarikat Takaful Malaysia Keluarga Bhd. He is also chairman of Bank Negara Malaysia’s Corporate Debt Restructuring Committee (CDRC). He was previously with Malayan Banking Bhd (Maybank) for 31 years where he held various positions including head of corporate banking and head of commercial banking. Prior to his retirement on Jan 30, 2008, he was Maybank’s deputy president/ED/CFO. He holds a Bachelor of Commerce degree in Accounting from the University of Newcastle, Australia, is an alumnus of the Advanced Management Program, Harvard Business School, USA and is also a fellow of the Asian Institute of Chartered Bankers (AICB).