KUALA LUMPUR (Dec 7): JF Technology Bhd has appointed Datuk Phang Ah Tong as independent non-executive chairman of the company effective Jan 1, 2018.

Phang, 60, was the former deputy chief executive officer of the Malaysian Investment Development Authority (Mida).

He will replace Datuk Foong Wei Kuong, 57, who will be redesignated as the managing director of JF Technology on the same day.
 
In a filing with Bursa Malaysia, the group said Phang has over 36 years in promoting foreign and domestic investments.

"He played an active role in shaping the economic landscape of Malaysia through his involvements in the formulation of the First Industrial Master Plan 1 (1986 - 1995) and the 11th Malaysia Plan for the manufacturing sector, the Economic Transformation Programme, as well as in various industrial roadmaps and blueprints. This included the Malaysian Aerospace Industry Blueprint 2030 and the Malaysian Solar PV Roadmap 2030. 

"Phang was also involved in organising and participating many trade and investment missions overseas, led by either the prime minister or minister of international trade and industry. His distinguished contribution in these capacities led to his appointment as the deputy CEO of Mida in 2013," the filing added. 

Starting out in 1981 as an economist at Mida, Phang went on to serve in various capacities, including being the assistant trade commissioner for Mida London and director of Mida New York.

At 3.19pm, JF Technology shares were down 9 sen or 4.62% at RM1.86, with 169,100 shares done, bringing it to a market capitalisation of RM240.66 million.