Friday 29 Mar 2024
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KUALA LUMPUR (Aug 3): Khazanah Nasional Bhd has appointed Datuk Shahril Ridza Ridzuan, currently the chief executive officer (CEO) of the Employees Provident Fund (EPF), as managing director (MD) of the sovereign wealth fund effective Aug 20.

This confirmed a report by The Edge Financial Daily yesterday that Shahril was tipped to fill the vacancy created by the departure of Tan Sri Azman Mokhtar.

In a statement today, Khazanah said Shahril, 48, was appointed to his current position at EPF on April 16, 2013. He was previously deputy CEO of investment at the country's largest pension fund.

Prior to joining the EPF, he was the MD of Malaysian Resources Corp Bhd (MRCB), where he was responsible for developing Kuala Lumpur Sentral into one of the main commercial centres in Malaysia. He also previously served Pengurusan Danaharta Nasional Bhd and was involved in corporate recovery and credit restructuring following the Asian financial crisis of 1997.

He is presently a non-executive board member of Media Prima Bhd, Malaysia Building Society Bhd, Pengurusan Danaharta Nasional Bhd, MRCB and IJN Holdings Sdn Bhd.

Shahril holds a Master of Arts (First Class) from Cambridge University and a Bachelor of Civil Law (First Class) from Oxford University, and has been called to the Malaysian Bar and the Bar of England and Wales.

On Monday, Prime Minister Tun Dr Mahathir Mohamad was named as the chairman of the fund by the Prime Minister’s Office (PMO). Khazanah had been without a chairman since May 31 when former prime minister Datuk Seri Najib Razak resigned.

The PMO also named Economic Affairs Minister Datuk Seri Mohamed Azmin Ali; Tan Sri Mohd Hassan Marican, formerly chief executive officer and president of Petroliam Nasional Bhd; Dr Sukhdave Singh, a former deputy governor of Bank Negara Malaysia; and Goh Ching Yin, formerly executive director of market development at the Securities Commission Malaysia, as directors of Khazanah.

This follows the offer of resignation en masse by the nine members of Khazanah board including Azman on July 26, saying the move would “facilitate a smooth and orderly transition under the new government”.

The other board members comprised Datuk Seri Nazir Razak, Tan Sri Md Nor Md Yusof, Tan Sri Mohamed Azman Yahya, Datuk Mohammed Azlan Hashim, Tan Sri Andrew Sheng Len Tao, Tan Sri Raja Arshad Raja Uda, Datuk Dr Nirmala Menon and Yeo Kar Peng.

Their offer of resignation from the entire board of Khazanah was accepted by Dr Mahathir on July 27, who said it would “enable the government to restructure the sovereign wealth fund accordingly”.

The premier also emphasised the government was “not on a witch-hunt”.
 

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