Choong Kai Wai and Koe Peng Kang to helm SP Setia, effective Oct 1

SETIA ALAM (Feb 2): S P Setia Bhd CEO Datuk Khor Chap Jen and deputy president and COO Datuk Wong Tuck Wai will be retiring by the end of September 2021, the company has appointed Datuk Choong Kai Wai to succeed Khor and Datuk Koe Peng Kang to succeed Wong effective Oct 1, 2021.

In a media statement today, SP Setia has announced the succession plan which is part of the company’s leadership talent agenda, implemented based on the robust leadership discussions within the company.

"I have full confidence that Choong will continue to provide great leadership, given his breadth of leadership and business experience both in the domestic and international market. He will build on the current foundational success of S P Setia and continue to build organisational capabilities to carry on the good momentum set by Khor," S P Setia chairman Tan Sri Datuk Seri Syed Anwar Jamalullail said in the media statement.

Khor was appointed the acting CEO on Jan 1, 2015 and subsequently, took on the CEO position on April 1, 2016, with a clear mandate to reposition S P Setia to a market leadership position. His leadership has seen many awards achieved by the company and team Setia, ranging from the coveted awards of being the World Gold recipient of five FIABCI Prix d’Excellence Award to many others. He was also instrumental in the successful completion of the integration process following the acquisition of I & P Group Sdn Bhd by S P Setia in 2017.

Meanwhile, Choong comes with more than 30 years of experience in the property and construction industry with experiences ranging from technical to business leadership roles. He holds a BSc (Hons) Mechanical Engineering from The City University London and is currently the Executive Vice President of S P Setia leading the Australian market.

Choong joined S P Setia in May 2010 as the CEO of Setia (Melbourne) Development Pty Ltd and has since grown S P Setia’s business in Australia and positioned the brand name of Setia very strongly within the Australian Property market, known for quality design and precision in on-time delivery.

Choong will be supported by Koe, who graduated with a BSc (Hons) Civil Engineering from the University of Leeds and completed his MSc in Construction Management from the University of Birmingham. He has been in S P Setia since 1997 and has been directly involved in the development of the Eco Series for the S P Setia Group.

Koe will carry on the operational excellence of S P Setia from Datuk Wong Tuck Wai, who was appointed the acting COO on Jan 1, 2015 and COO on April 1, 2016.

"The board of directors, management and staff of S P Setia look forward to working closely with Choong in his new role as CEO. His international experience will add on new perspectives to growing our business beyond the Malaysian shores as we look at diversifying and expanding S P Setia into a global business player, complementing the current regional and global investments.

The rich combination of both the experiences of Choong and Koe will present S P Setia with the right opportunity to take the group to greater heights," said Syed Anwar.

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