KUALA LUMPUR: Affin Holdings Bhd has appointed Kamarul Ariffin Mohd Jamil (pic) as its group chief executive, as well as managing director and chief executive officer (CEO) of Affin Bank Bhd effective tomorrow.

He replaces Datuk Zulkiflee Abbas, 58, who is retiring. Zulkiflee has been holding the two positions since January 2014. 

In a statement yesterday, Affin Holdings (fundamental: 1.1; valuation: 2.1) said it had obtained Bank Negara Malaysia’s (BNM) approval for the appointment of Kamarul Ariffin to head the group. 

“Kamarul Ariffin, together with the board of directors and management, would provide effective oversight and ensure robust risk management on a group-wide basis,” said the group.

Kamarul Ariffin, 46, brings with him more than 20 years of experience in the corporate arena. He was previously the CEO of Affin Islamic Bank Bhd, rising through the ranks since he joined Affin Bank as the head of corporate strategy in 2003.

Prior to Affin Bank, Kamarul Ariffin held leadership positions in Pengurusan Danaharta Nasional Bhd, Trenergy Malaysia Bhd and Shell Malaysia Trading Sdn Bhd.

Affin Holdings chairman Tan Sri Mohd Zahidi Zainuddin said an application has been made to BNM pertaining to Kamarul Ariffin’s successor as CEO of Affin Islamic Bank.

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. Go to www.theedgemarkets.com for more details on a company’s financial dashboard.

This article first appeared in The Edge Financial Daily, on March 31, 2015.