Yee Yang Chien replaces Nasarudin Md Idris as chief of MISC

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KUALA LUMPUR (Dec 31): MISC Bhd has promoted its chief operating officer (COO) Yee Yang Chien to president and chief executive officer (CEO) effective tomorrow, replacing Datuk Nasarudin Md Idris who has been redesignated as its non-independent and non-executive director.

Yee, 46, was appointed to his current position in July last year where he was also given oversight over the group's finance and human resource functions as well as the chemical tanker business unit.

In a filing with Bursa Malaysia today, Petroliam Nasional Bhd's (Petronas) shipping arm said Yee first joined MISC in 2001 as senior manager of research and evaluation of the corporate planning and development unit.

He subsequently joined MISC's petroleum arm AET Tankers Holdings Sdn Bhd as its group vice-president of corporate planning in June 2005, before returning to MISC in April 2008 as its vice-president of corporate planning and development, focusing on strategic planning and budget development for the group. 

Yee is also a director of Malaysia Marine and Heavy Engineering Holdings Bhd.

Meanwhile, Nasarudin, 59, served as MISC non-independent non-executive director since Oct 11, 2004 before assuming his current position on June 15, 2010.

Nasarudin joined Petronas in 1978 and held various positions within the oil and gas group including as vice-president of corporate planning and development and group CEO of KLCC Holdings Bhd. He was also senior general manager of corporate planning and development division, executive assistant to the president and general manager of marketing at Petronas Dagangan Bhd.

MISC shares closed 5 sen or 0.69% lower at RM7.22 today, giving it a market capitalisation of RM32.27 billion.