KUALA LUMPUR (Nov 3): Icon Offshore Bhd has appointed deputy CEO Hassan Ali as chief operating officer (COO) effective Nov 19, replacing Rahman Yusof.

This is the company's second boardroom change in one week, following the appointment of Amir Hamzah Azizan as new managing director yesterday (Nov 2).

According to the filing with Bursa Malaysia, Hassan will replace Rahman Yusof, who will leave his position as COO effective Nov 15, to pursue his own business.

Hassan has over 38 years of experience in the marine transportation industry. He began his career as a deck officer with Malaysia International Shipping Corp Bhd (now known as MISC Bhd ) in 1975 and left in 1985 as chief officer. In 1990, he joined Petronas Carigali Sdn. Bhd. (PCSB) as cargo supervisors.

Hassan also held the position of operation manager at Petrokapal Sdn Bhd from 1995 to 1996, before leaving to join Orient Overseas Container Line (Malaysia) Sdn Bhd as a National Operation Manager in 1996. In 1997, he was appointed as the marine manager of Regship Services Sdn Bhd until 1999. He was the executive director of Gugusan Maritime Sdn Bhd from 1999 to 2004, where his responsibilities included overseeing the dry bulk and edible cargo chartering operations.

He joined Tanjung Offshore Services Sdn Bhd as a marine superintendent in 2004 and was subsequently appointed as an executive director and chief executive officer of Tanjung Kapal Services Sdn Bhd (TKS) (now known as Icon Ship Management Sdn Bhd) in 2005 and 2006 respectively. Following completion of strategic consolidation in 2012 between Omni Petromaritime Sdn Bhd and TKS, he assumed the position of chief corporate officer and deputy CEO of Icon Offshore.

This appointment was followed by the the appointment of Amir to replace Dr Jamal Yusof as new managing director of Icon Offshore, effective March 1, 2016.

In May this year, Jamal declined the offer to be re-elected as a director of the company, after he and Rahman were remanded to facilitate and assist in investigations by the Malaysian Anti-Corruption Commission. It remains unknown what the subject matter of the investigations was.

Icon Offshore closed 2 sen or 5.63% higher at 37.5 sen today. It saw 3.15 million shares traded, with a market capitalisation of RM417.9 million.

(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.)