Changes in GLCs show no sign of abating

by S BIRRUNTHA / graphic by MZUKRI

CHANGES at board level continue at government-linked companies (GLCs) and agencies with several new appointments throughout November.

The major appointments have been the return to the corporate scene of Datuk Seri Mohammed Shazalli Ramly, 59, as group MD of Boustead Holdings Bhd effective Dec 1. He was formerly the MD/ CEO of Telekom Malaysia Bhd from April 2017 to June 2018 who stepped down from the position after the Pakatan Harapan government took power and undertook major changes at various GLCs, government-linked investment companies and agencies.

Mohammed Shazalli replaces Datuk Seri Amrin Awaluddin, 54, who has asked to shorten his tenure at the Armed Forces Fund Board (LTAT).

Market talk suggests Amrin is in the running to take over the vacant CEO role at the LTAT itself.

If true, he will take over the role from Nik Amlizan Mohamed, who has assumed the role of CEO at the Retirement Fund (Inc) (KWAP) on Nov 2. Prior to her role as CEO of LTAT, Nik Amlizan was the CIO of KWAP.

November also saw Tan Sri Zamzamzairani Mohd Isa becoming the new chairman and director of Malayan Banking Bhd effective Nov 2, taking over the role from Datuk Mohaiyani Shamsudin, whose tenure ended after three years in the role.

The month also saw Bernama editor-in-chief Datuk Mokhtar Hussain’s promotion to the post of CEO of the national news agency with immediate effect.

His appointment announced last Wednesday came on the heels of the appointment of Senator Ras Adiba Radzi as chairman of Bernama on Nov 23.

Malaysia Tourism Promotion Board (Tourism Malaysia) announced the appointment of Zulkifly Md Said as the new DG effective Nov 11.

In a statement last month, the Ministry of Tourism, Arts and Culture said Zulkifly began his career with Tourism Malaysia on July 1, 1988, and has held the position of senior director (management) since March 20, 2019.

Previously, he carried out the duties as the deputy DG of Tourism Malaysia.

He was the overseas director of Tourism Malaysia in Hong Kong in 1992, followed by Bangkok, Thailand (2000) and Istanbul, Turkey (2004).

Changes were also seen at national oil company Petroliam Nasional Bhd (Petronas) as Petronas Gas Bhd appointed Abdul Aziz Othman as its new CEO and MD effective Jan 1, 2021, after the company posted robust earnings in its third quarter.

According to the company’s filing with Bursa Malaysia in Nov 20, Abdul Aziz will replace Kamal Bahrin Ahmad, who will step down next year as part of a staff mobility exercise within the group.

Abdul Aziz currently serves as chief market officer of Petronas LNG Ltd and has over 33 years of experience in Petronas.

The country’s sovereign wealth fund, Khazanah Nasional Bhd appointed Datuk Zainal Abidin Putih to its board of directors effective Nov 16.

Zainal Abidin will also sit on the board’s audit and risk committee.

Exchange operator, Bursa Malaysia Bhd, appointed Datuk Bazlan Osman and Syed Ari Azhar Syed Mohamed Adlan as its independent non-EDs, effective Nov 16.

The stock exchange operator said in a statement that Bazlan currently serves as non-executive chairman of GITN Sdn Bhd.

He was an independent non-ED of Fima Corp Bhd, Citibank Bhd, Glomac Bhd and Syarikat Takaful Malaysia Keluarga Bhd.

Syed Ari Azhar is a seasoned global fund manager with two decades of experience at leading institutional investment management companies around the world such as APG, UBS Group AG, Citigroup Inc and Deutsche Asset Management.

Prior to his appointment, he served the country head of Malaysia at CLSA Securities Sdn Bhd.

Bursa Malaysia said the two new appointments on the board will provide greater diversity, enabling the stock exchange operator to play a significant role in developing a vibrant marketplace.

Meanwhile, UEM Sunrise Bhd appointed two new independent and non-EDs to the board effective last month, namely Chari Thandalam Veeravalli Thirumala and Poh Ying Loo, on the back of a merger proposal with Eco World Development Group Bhd.

Their appointments followed the resignation of independent and non-ED Subimal Sen Gupta SC Sen, and MD and CEO Anwar Syahrin Abdul Ajib in October.

According to UEM’s exchange filing, Chari Thandalam is currently serving as a consultant to a hightech semiconductor fabrication company, global IT services and digital transformation company and a global forensics and valuation company.

He has 20 years’ working experience with Hewlett Packard Malaysia in senior business management and finance roles, and nine years with Axiata Group Bhd as group CFO of Celcom Axiata Bhd and Axiata Group.

Poh comes with over three decades of working experience across a diverse set of industries from auditing, manufacturing and trading before joining the retail industry.

He also served as the ED of AEON Co (M) Bhd from May 2011, and retired from his position on June 24 this year.

EcoWorld and UEM Group Bhd have been given time till next month by the Securities Commission to state their position on their proposed merger talks.