KUALA LUMPUR (April 16): Petronas Dagangan Bhd (PetDag) which is 69.86%-owned by state oil firm Petroliam Nasional Bhd (Petronas), has appointed Md Arif Mahmood as chairman and director to its board, replacing Datuk Wan Zulkiflee Wan Ariffin.

Md Arif just took over as Petronas executive vice president and chief executive officer of its downstream business yesterday (April 15). The post was vacated by Wan Zulkiflee when the latter was appointed president and group CEO on April 1.

In a filing with Bursa Malaysia today, PetDag said apart from his current positions, Md Arif has held various positions within the state oil firm.

Besides chairing and being on the boards of companies within the Petronas group, Md Arif also serves as director to the Malaysia Industry–Government Group for High Technology (MIGHT), as well as the Malaysia South–South Association (MASSA).

Besides that, he has also held senior managerial positions in Petronas Gas Bhd, Engen Petroleum Ltd, PetDag (fundamental: 1.7; valuation: 1.1) and Asean Bintulu Fertiliser Sdn Bhd.

PetDag fell 2 sen or 0.1% to close at RM20.86 today, translating into a market capitalisation of RM20.72 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.)