KUALA LUMPUR (June 28): Mah Sing Group Bhd has named its independent non-executive director Tan Sri Siti Norma Yaakob as the new chairman of the group with immediate effect, replacing Gen (R) Tan Sri Yaacob Mat Zain who has resigned.

In a filing with Bursa Malaysia today, Mah Sing said Yaacob's resignation was in accordance to the new Malaysian Code on Corporate Governance, where the tenure of an independent director must not exceed a cumulative term of nine years.

Yaacob, 82, has served on the board of directors of Mah Sing since June 29, 1994.

Meanwhile, Siti Norma, 77, joined the board on April 16 this year.

According to Mah Sing's Annual Report 2017, Siti Norma's career achievements over a period of 43 years marked many firsts for women in the Judicial and Legal Service of Malaysia. She rose to become the first woman to be appointed to an executive position in the Judicial and Legal Service in 1963 and was elevated to the High Court Bench in 1983.

In 1994 she was appointed as a Court of Appeal Judge and as a Federal Court Judge in 2001.

Sworn in as Chief Judge of Malaya on Feb 8, 2005, Siti Norma subsequently retired in January 2007.

Mah Sing shares closed down one sen or 0.94% at RM1.06 today, giving it a market capitalisation of RM2.6 billion.