Friday 29 Mar 2024
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KUALA LUMPUR (April 25): Gabungan AQRS Bhd made several changes to its management line-up today, with its major shareholder and chief executive officer (CEO) Ng Chun Kooi, 55, redesignated as the company's executive vice-chairman.

Ng's current post is being replaced by executive director (ED) Datuk Azizan Jaafar, 48.

Gabungan AQRS ED Ow Chee Cheoon, 55, has also been appointed as the deputy CEO of the company.

In a statement today, Gabungan AQRS chairman Datuk Kamarudin Md Ali said these new appointments show that the company has a robust succession plan in place and reflect the board of directors' confidence in Azizan to lead the management team.

"(It) also set the direction for the company's property development and construction divisions in its next phase of growth," he added.

Gabungan AQRS said Azizan, who is also a director and shareholder of Tanah Makmur KotaSAS Sdn Bhd, a subsidiary of Tanah Makmur Bhd, has a wealth of experience both in the construction and property development industries.

Azizan holds a 12.56% direct and indirect shareholding in the company primarily through his investment company, Ganjaran Gembira Sdn Bhd.

Its ED and chief financial officer Bernard Lim Soon Chiang and Ow are also shareholders of Ganjaran Gembira.

Following the changes, the new board of directors comprises:

1. Kamarudin Md Ali (independent, non-executive chairman)
2. Ng Chun Kooi (ED and deputy chairman)
3. Azizan Jaafar (ED and CEO)
4. Ow Chee Cheoon (ED and Deputy CEO)
5. Bernard Lim Soon Chiang (ED and chief financial officer)
6. Datuk Badil Zaman Fazul Rahman (ED)
7. Lam Vun Chiang (ED)
8. Loo Choo Hong (independent, non-executive director)
9. Muk Sai Tat (independent, non-executive director)

Gabungan AQRS shares closed down 1.5 sen or 1.78% at 83 sen today, valuing it at RM326.06 million.

 

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