KUALA LUMPUR (Dec 2): Boustead Heavy Industries Corp Bhd (BHIC) announced today Tan Sri Ramlan Mohamed Ali's appointment as the company's non-executive chairman.

In a statement, BHIC said Ramlan's appointment was effective yesterday (Dec 1).

"We are confident that Ramlan will help steer the BHIC Group towards a path of growth to deliver optimal value to our shareholders," BHIC said.

The group said Ramlan was appointed as BHIC non-independent non-executive director on July 10, 2019, and has been a director of Lembaga Tabung Angkatan Tentera, which holds an 8% stake in BHIC.

"He was appointed as the 14th Chief of the Royal Malaysian Navy (RMN) on Nov 15, 2006. He joined RMN in 1970 and held numerous command and staff appointments in the RMN and Malaysian Armed Forces in an illustrious career as a serviceman. He retired on July 18, 2008 after four decades of stellar service to the nation," BHIC said.

Ramlan takes over the post of BHIC chairman from Tan Sri Ahmad Ramli Mohd Nor, who resigned on Saturday (Nov 30).

At Bursa Malaysia today, BHIC's share price closed unchanged at RM1.28 for a market capitalisation of RM318.03 million. BHIC saw 9,500 shares traded.

(story updated)