CORP BRIEF: Pos Malaysia, FGV, BDB Synergy and Bertam Alliance

by TMR / pic by BLOOMBERG

Syed Najib steps down from Pos Malaysia GCEO

POS Malaysia Bhd group CEO (GCEO) Syed Md Najib Syed Md Noor is stepping down with effect from June 1, 2021, after serving the company for almost three years. In a statement yesterday, Pos Malaysia said Syed Najib was appointed in October 2018, at the time of a structural decline in mail volume and a major shift in the behaviour of consumers towards consumption products, preferring to use digitally-enabled platforms. Under Syed Najib’s stewardship, various initiatives were employed and the success of which, among others, was the achievement of the integral postal tariff rebalancing, historically, only the second tariff increase in 28 years.

FGV appoints officer-in-charge to cover CEO duties

FGV Holdings Bhd appointed Azman Ahmad as the officer-in-charge to cover duties and responsibilities of the Group CEO (GCEO) effective May 16, 2021, until a new GCEO is appointed, or until a date to be determined by the board. In a filing to Bursa Malaysia yesterday, FGV said the decision was made following the resignation of Datuk Haris Fadzilah Hassan as the firm’s GCEO on April 5, 2021. Azman will continue his current role as the group divisional director of the logistics and support businesses (LSB) sector which he has held since Jan 1, 2017. As the group divisional director of LSB, he is accountable for the overall performance and growth of LSB in alignment with FGV’s overall business objectives and stakeholders’ expectations.

BDB Synergy wins RM431m contract

BINA Darulaman Bhd’s wholly owned subsidiary, BDB Synergy Sdn Bhd, received a letter of acceptance for the upgrading of Pelubang Water Treatment Plant Project in Kedah. In a filing to Bursa Malaysia yesterday, the company said the value of the contract is RM431 million for 156 weeks (three years), commencing from the site possession date on May 20, 2021, until the completion date on May 15, 2024. The project is expected to contribute positively to the group.

Bertam Alliance unit bags RM8.3m construction deal

BERTAM Alliance Bhd’s wholly owned subsidiary, Bertam Development Sdn Bhd, received a letter of award from Integral Acres Sdn Bhd to undertake the construction, completion and maintenance works during defects liability period for a total contract value of RM8.3 million. In a filing to Bursa Malaysia, Bertam said it will undertake external works and services, and balance of works for the six-storey car park and community facilities block. The project will commence on June 1, 2021, for 13 months. It is expected to be completed on June 30, 2022.