Thursday 28 Mar 2024
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KUALA LUMPUR (July 20): CIMB Group Holdings Bhd, Malaysia’s second largest lender by assets, announced that Datuk Mohd Nasir Ahmad and Datuk Lee Kok Kwan has been directors of CIMB Group and CIMB Bank, respectively, effective today.

While Mohd Nasir takes on the role as independent and non-executive director, Lee is now an non-independent and non-executive director.

“Datuk Mohd Nasir Ahmad and Datuk Lee have played pivotal roles in governance and advisory and have deep experience in finance. With them as our newest members, they will further strengthen our board given their credibility and stature.

“The management team and I look forward to working with them," said CIMB Group chief executive officer (CEO) Tengku Datuk Zafrul Tengku Abdul Aziz in a statement today.

CIMB Group (fundamental: 1.05; valuation: 2.25) said Mohd Nasir Ahmad brings with him vast experience in the area of finance and accounting which spans over 35 years, where he has held key positions in private and government-linked companies.

Currently, Mohd Nasir sits on the boards of Sumatec Resources Bhd, Bina Darulaman Bhd, Credit Guarantee Corporation Malaysia Bhd (CGC), Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), MIMOS Bhd and Prokhas Sdn Bhd.

He is also chairman of UKM Holdings Sdn Bhd and a board member of University Kebangsaan Malaysia, the Energy Commission, the Listing Committee of Bursa Malaysia, and the Board of Trustee of Yayasan Canselor Universiti Tenaga Nasional (UNITEN).

Meanwhile, Lee, who is the deputy group CEO as well as CEO of corporate banking, treasury and markets, will be relinquishing all executive positions he holds within the group with effect from the same date.

CIMB Group closed 2 sen or 0.36% higher at RM5.50 today, which gives it a market capitalisation of RM46.61 billion.

(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.)

 

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