KUALA LUMPUR (Sept 13): Binasat Communications Bhd has appointed Tan Sri Cham Hak Lim as independent and non-executive chairman of the group, replacing Tan Sri Ahmad Fuad Ismail, 65, who has resigned citing personal commitment.

In a filing with Bursa Malaysia today, Binasat said Cham, 77, was elected as a committee member of Selangor Turf Club in 1996 and became its deputy chairman in 1998. He was also a committee member of the Malayan Racing Association.

In 2004, he was elected as the chairman of the Lembaga Totalisator Malaysia Technical Committee of the Equine Industry Development Project. He was also appointed as joint chairman by the Terengganu state government for the National Horse Show in 2008.

In 2009, he was elected as the chairman of the Selangor Turf Club in 2009 and holds the position till today. In 2012, he was appointed as the chairman of Lembaga Totalisator Malaysia by the Minister of Finance, and continued serving till 2016.

He is also actively involved in the motor vehicle industry and served as the chairman for several companies including Atiara Otomobil Pte Ltd, Advant Speed Motors Sdn Bhd, Atika Enterprise Pte Ltd and Affluent Centre Pte Ltd.

Binasat shares closed 0.5 sen or 1.19% higher at 42.5 sen, with 553,600 shares done, bringing it a market capitalisation of RM110.5 million.