Majuperak names Rapid Bus’ Muhammad Yazurin as its new CEO

• He succeeds Syed Agil Syed Hashim, who stepped down from the board after completing his two-year service contract.

KUALA LUMPUR (Dec 3): Majuperak Holdings Bhd (KL:MJPERAK), a 51.41%-owned subsidiary of the Perak State Development Corp, announced on Monday the appointment of Muhammad Yazurin Sallij Muhammad Yasin as its new chief executive officer (CEO).

Muhammad Yazurin, 49, will assume the role effective Jan 2, according to Majuperak’s bourse filing. He succeeds Syed Agil Syed Hashim, who stepped down from the board after completing his two-year service contract.

Muhammad Yazurin is currently the CEO of Rapid Bus Sdn Bhd, Malaysia's largest bus operator. Prior to this, he was involved in establishing the business development department of PLUS Expressways Bhd, which was then the largest listed toll expressway company.

“His early career included a pivotal role as an internal auditor at HBN Management Sdn Bhd, where he honed his understanding of governance, internal controls and risk management,” said Majuperak.

The Main Market-listed company has a diversified portfolio, including property development and infrastructure, asset and facilities management, renewable energy, and trading and commercial ventures.

Majuperak has been loss-making since the financial year ended Dec 31, 2022 (FY2022). For the first nine months of FY2024, the group’s net loss widened to RM11.23 million from RM1.37 million in the previous corresponding period, primarily due to significant losses from its associates, which increased to RM10.49 million from RM353,000.

This was despite a 20.36% rise in nine-month revenue to RM18.77 million from RM15.59 million in the previous year, driven by revenue from the facilities management segment.

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