Friday 29 Mar 2024
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KUALA LUMPUR (March 30): Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) managing director and chief executive officer Datuk Abu Fitri Abdul Jalil will relinquish his position this April 30. His contract with MHB expires on that day.
 
In statements to Bursa Malaysia today, MHB said Abu Fitri would relinquish his position, "following the cessation of his secondment to MHB from Petronas (Petroliam Nasional Bhd) on 30 April 2016".

"In view of the current challenges in the oil and gas industry and pursuant to the group-wide transformation exercise being undertaken by Petronas, Abu Fitri has been called back into the service of Petronas," said MHB.

MHB is a 66.5%-owned subsidiary of MISC Bhd, which is in turn, is a 62.67%-unit of Petronas.

In the interim, MHB said its chief financial officer (CFO) Wan Mashitah Wan Abdullah Sani would be appointed as acting chief executive officer from May 1 this year.
 
Wan Mashitah joined MISC in 2002, before she was appointed as the MHB CFO on June 30, 2010.

"The board of MHB wishes to announce that Cik Wan Mashitah, the current chief financial officer of the company, has been appointed as the acting chief executive officer of the company with effect from 1 May 2016, pending the appointment of a new managing director & chief executive officer of the company," MHB said.

At 12:30pm today, MHB shares fell two sen or 2% to settle at RM1.03, for a market capitalisation of RM1.65 billion. The stock saw 232,300 shares exchanging hands.

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