KUALA LUMPUR (May 11): BIMB Holdings Bhd said Malkit Singh Maan will be its new group chief financial officer (CFO) from May 11, replacing Mohamad Azlan Mohamad Alam, who will be redesignated as the group’s chief operating officer (COO) on the same date.

Prior to joining BIMB, Malkit is the CFO of Bank Islam Malaysia Bhd (Bank Islam) since January 2008.

In a statement today, BIMB (fundamental: 2.7; valuation: 1.8) said Malkit has over 24 years’ experience in finance within the banking environment, and has served several foreign and local banks in various capacities, which include the CFO of ABN-Amro Bank (M) Bhd (now Royal Bank of Scotland Bhd) and vice president of finance at RHB Bank Bhd.

Moreover, Malkit is a certified practising accountant (CPA) member of the Australian Society of CPAs and Chartered Accountant of Malaysian Institute of Accountants (CIMA).

Meanwhile, at Bank Islam, former Partner of KPMG Malaysia and executive director of KPMG Malaysia’s management consulting Mohamad Muazzam Mohamed has been appointed as the new CFO, also effective on May 11.

He has been serving KPMG Malaysia since 1997. He was seconded to KPMG London for two years between 2000 and 2002 to focus on the financial services sector.

Mohamad Muazzam has more than 18 years of experience in the fields of finance and IT, during which he has led the financial audit engagements of various public listed companies, statutory bodies and private entities.

He is also a chartered accountant and a member of the Malaysian Institute of Certified Public Accountants (MICPA) as well as the Chartered Public Finance Accountant for the Chartered Institute of Public Finance and Accountancy (CIPFA).

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)