Anwar Syahrin is new Malakoff MD

The MD position became available after the IPP announced the resignation of its CEO Ahmad Fuaad effective Oct 31

by ASILA JALIL / pic by MUHD AMIN NAHARUL

ANWAR Syahrin Abdul Ajib (picture) submitted his resignation as MD and CEO of UEM Sunrise Bhd to become the MD of Malakoff Corp Bhd, according to exchange filings by the companies yesterday.

The independent power producer (IPP) announced that Anwar Syahrin will assume his role as MD from Dec 1, 2020.

The appointment came after UEM Sunrise made a filing announcing Anwar Syahrin’s resignation as MD and CEO from the company effective Oct 30, 2020.

The MD position at Malakoff became available after the IPP announced the resignation of its CEO Datuk Ahmad Fuaad Mohd Kenali which will take effect on Oct 31, 2020.

Ahmad Fuaad relinquished the position to become president and group CEO of UMW Holdings Bhd.

The 47-year-old Anwar Syahrin also relinquished several board positions in UEM Sunrise yesterday.

The group cited “pursuing other opportunities” as the reason for his resignation. Anwar Syahrin was appointed to the role on Sept 1, 2014.

UEM Sunrise is currently undergoing a leadership shake-up following its proposed merger with Eco World Development Group Bhd (EcoWorld).

Previously, the group’s chairman Tan Sri Zamzamzairani Mohd Isa, 60, retired from office in July. This was followed by the retirement of UEM Sunrise’s independent and non-ED Lim Tian Huat on the same day.

Two weeks ago, the group’s independent and non-ED Subimal Sen Gupta Sen also resigned due to “personal reasons”.

Khazanah Nasional Bhd’s wholly owned subsidiary, UEM Group Bhd, earlier proposed a merger between UEM Sunrise and EcoWorld, which would create one of Malaysia’s largest property companies, to sustain long-term value creation and growth.

The proposed deal entails the issuance of new ordinary shares in UEM Sunrise at an issue price of 44.3 sen in exchange for EcoWorld’s shares at an exchange price of 46.9 sen.

UEM Group said the merger would create an opportunity for an existing government-linked company to be in partnership with the private sector to create one of the country’s largest property developers with a projected gross development value of RM173.2 billion and a total landbank of more than 6,880ha locally.

UEM Sunrise’s shares remained unchanged yesterday at 38.5 sen, valuing the company at RM1.72 billion.