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KUALA LUMPUR (April 20): Hektar Real Estate Investment Trust (REIT) founder and chief executive officer (CEO) Datuk Jaafar Abdul Hamid will be resigning as the CEO of its management company Hektar Asset Management Sdn Bhd (HAM) on May 1.
He will be duly replaced by former Edaran Otomobil Nasional Bhd (EON) CEO Datuk Hisham Othman on the same date, said Hektar REIT in a filing with Bursa Malaysia yesterday.
It added that HAM had received approval from the Securities Commission Malaysia on March 17 for the appointment of Hisham.
In a separate statement, the group said Jaafar, who started the company in 2006, would be redesignated as the board’s non-independent non-executive chairman on the same date, while Hisham would be its non-independent executive director.
This article first appeared in The Edge Financial Daily, on April 20, 2016. Subscribe to The Edge Financial Daily here.
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