KUALA LUMPUR (April 2): Deputy chief executive officer (CEO) and deputy managing director (MD) of IJM Corp Bhd Datuk Soam Heng Choon has been appointed as a non-independent and non-executive director of IJM Plantations Bhd, replacing Datuk Teh Kean Ming who is retiring.

IJM Plantations’ Bursa Malaysia filing today showed that Soam, 55, will be taking on the non executive role in IJM Plantations from April 6, 2015.

IJM Corp (fundamental:1.10; valuation:1.2) had previously announced on March 16 that Soam will be taking over the reigns at the group level as CEO and MD of IJM Corp on April 6, 2015.

At the time, the group had said Teh will also be retiring as CEO and MD of IJM Corp, upon the expiry of his service contract on April 5.

With his new designations, Soam will cease to be the CEO and MD of IJM Land Bhd on April 5, and will be redesignated as a non-independent and non-executive director of IJM Land Bhd.

The new MD of IJM Land (fundamental:1.80; valuation:1.8), effective April 6, will be Edward Chong Sin Kiat, 43, who is also the current chief operating officer (COO) and chief financial officer (CFO) of IJM Land.

Shares of IJM Plantations (fundamental:2.70; valuation:1.8) closed down 8 sen or 2.23% at RM3.50 today, with a market capitalisation of RM3.08 billion.

Its parent company IJM Corp meanwhile, was up 2 sen or 0.28% at RM7.13, which gives it a market capitalisation of RM10.69 billion.

(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.)