KUALA LUMPUR (July 1): Northport (M) Bhd, a wholly-owned subsidiary of NCB Holdings Bhd, announced today that Datuk Idris Kechot will be taking on the role of the company’s new chairman and director effective immediately.

This announcement was made following the announcement that Northport’s former chairman and director, Tan Sri Ir. Wan Abdul Rahman, had resigned effective July 1.

Idris began his career in 1983 with Permodalan Nasional Bhd.

“Datuk Idris has more than 30 years of experience in equity evaluation equity trading and portfolio management of the propriety and unit trust portfolios,” said the group in a filing to Bursa Malaysia.

“He has also undergone extensive training and attachment programs locally and overseas, in the area of equity evaluation, portfolio management and general management development.”

NCB (fundamental: 2.05; valuation: 0.8) closed 0.85% or three sen higher at RM3.55 today, for a market capitalisation of RM1.66 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.)