Friday 29 Mar 2024
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KUALA LUMPUR (April 23): Cahya Mata Sarawak Bhd (CMSB) group chairman Tan Sri Syed Anwar Jamalullail is stepping down on expiry of his contract on May 9, after serving almost 12 years in the post.

In a statement today, CMSB said its deputy group chairman Datuk Seri Mahmud Abu Bekir Taib, 54, will take the helm as interim chairman of the group on May 10 while the group sources a permanent candidate for the position. Mahmud is a director of Majaharta Sdn Bhd, which is a major shareholder of CMSB.

Syed Anwar, 66, was appointed as an independent non-executive director of CMSB on May 10, 2006. He was subsequently appointed as group chairman on July 1, 2006.

"Tan Sri’s legacy has been wide-ranging and vast during a tenure where he oversaw and implemented pioneering changes, introduced new and innovative strategies and played a transformational role in implementing the company’s long-term strategic plan to expand and diversify CMSB’s business portfolios, which has enabled our businesses to grow and prosper,” said Mahmud.

"During Tan Sri's leadership the share price rose significantly from 0.35 (price after the split and bonus) and to a high of RM6 in July 2015 representing an increase of 1,614%," he added.

“Our transformation over the last 12 years to become a company firmly ranked in the top 100 Bursa listed companies with steadily upward trending profits growth, resilience in the face of headwinds and an exciting portfolio of businesses strategically focussed on the Sarawak Growth Story, has been well documented," said Syed Anwar.

In a filing with Bursa Malaysia, CMSB revealed that Syed Anwar was former chairman of the Lembaga Tabung Haji Investment Panel. He was also the former chairman of Media Prima Bhd, Malaysian Resources Corp Bhd, DRB-Hicom Bhd, Eon Bank Bhd, Uni Asia Life Assurance Bhd, Uni Asia General Insurance Bhd, Malakoff Corp Bhd and the executive chairman of Realmild (M) Sdn Bhd and Radicare (M) Sdn Bhd.

He was also formerly an independent director of Maxis Communications Bhd and Bangkok Bank Bhd.

Currently, Syed Anwar is the chairman of Nestle (M) Bhd, Lembaga Zakat Selangor and Malaysia Airports Holdings Bhd. He is also the Chancellor of SEGi University.

CMSB shares closed unchanged at RM4.10 today, with 409,200 shares done, giving it a RM4.4 billion market capitalisation.

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