KUALA LUMPUR (Aug 28): Danajamin Nasional Bhd has appointed Md. Yusof Hussin as the new chairman of its board, effective Aug 23, 2018.

Managing director and chief executive officer of Danajamin, Mohamed Nazri Omar, said they are very pleased to welcome Yusof to chair their Board of Directors.  

“We believe his broad experience, especially in the banking and corporate services, will be extremely valuable as Danajamin continues to grow and perform its mandated role as the nation’s first Financial Guarantee Insurer,” Nazri said in a statement today. 

Yusof has 44 years of experience in the corporate sector, especially in the banking and corporate services, according to Danajamin. 

He has also previously sat on the boards of directors of Malayan Banking Berhad, UMW Holdings Berhad, TH Plantations Berhad, Iskandar Investment Berhad and Credit Guarantee Corporation Malaysia Berhad, to name a few.  

He was also appointed as the chairman of Small Debt Resolution Committee for small and medium scale industries (SDRC) from 2003 to 2015. 

Currently, Yusof is the Chairman of TPPT Sdn Bhd (an associated company of Bank Negara Malaysia) and a non-executive director of Glenealy Plantations Sdn Bhd. 

He is both a chartered accountant and certified public accountant. 

In addition, Datuk Che Mokhtar Bin Che Ali and Elakumari Kantilal have also been appointed to Danajamin’s board of directors, effective Aug 23, 2018. 

“The company is equally delighted to welcome the new directors to the Danajamin family. We look forward to their participation on our Board and I have no doubt that the organisation will benefit from their extensive experience and expertise,” Nazri added. 

Che Mokhtar is the founder partner of Messrs Che Mokhtar & Ling. He possesses more than 30 years of experience as an advocate and solicitor of the High Court of Malaya, as well as a magistrate and deputy public prosecutor. 

He was also appointed a notary public by the Attorney General of Malaysia.  

He currently sits on the board of directors for Mass Rapid Transit Corporation Sdn Bhd (MRT Corp), and serves as the chairman of the Nomination & Remuneration Committee, the chairman of Whistle-blower Committee, and is a member of the Audit & Risk Committee. 

Elakumari has served in the government and corporate sector for almost 37 years in various capacities.  

During her time with the Ministry of Finance (MOF), she was involved in the monitoring and restructuring of companies, including debts of non-performing companies held by MOF (Inc).  

She was also actively involved in the establishment of Khazanah Nasional Berhad, before moving to Khazanah’s investment division upon its establishment in 1994 until 2017. 

Elakumari also currently serves as a member of the boards of UEM Edgenta Berhad and TIME dotcom Berhad. 

He concluded: “With these appointments, we believe it’s the right fit to support the ongoing growth of the company, the execution of its strategic plan which encompasses our mission to build confidence in the underserved issuers, and enhancing the efficiency of capital allocation in the sukuk and bond market.”