Gabungan AQRS gets new CEO in line-up changes

KUALA LUMPUR (April 26): Gabungan AQRS Bhd made several changes to its management line-up yesterday, with its major shareholder and chief executive officer (CEO) Ng Chun Kooi, 55, redesignated as the company’s executive vice-chairman.

Executive director (ED) Datuk Azizan Jaafar, 48, has replaced Ng as the new CEO.

Another Gabungan AQRS ED, Ow Chee Cheoon, 55, has also been appointed as the deputy CEO of the company.

In a statement yesterday, Gabungan AQRS chairman Datuk Kamarudin Md Ali said these new appointments show the company has a robust succession plan in place and reflect the board of directors’ confidence in Azizan to lead the management team.

“[It] also set the direction for the company’s property development and construction divisions in its next phase of growth,” he added.

Gabungan AQRS said Azizan, who is also a director and shareholder of Tanah Makmur KotaSAS Sdn Bhd, a subsidiary of Tanah Makmur Bhd, has a wealth of experience both in the construction and property development industries.

Azizan holds a 12.56% direct and indirect shareholding in the company, primarily through his investment company Ganjaran Gembira Sdn Bhd.

Its ED and chief financial officer (CFO) Bernard Lim Soon Chiang and Ow are also shareholders of Ganjaran Gembira.

Following the changes, the new board of directors comprises: Kamarudin (independent, non-executive chairman), Ng (ED and executive vice-chairman), Azizan (ED and CEO), Ow (ED and deputy CEO), Lim (ED and CFO), Datuk Badil Zaman Fazul Rahman (ED), Lam Vun Chiang (ED), Loo Choo Hong (independent, non-ED) and Muk Sai Tat (independent, non-ED).

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This article first appeared in The Edge Financial Daily, on April 26, 2016. Subscribe to The Edge Financial Daily here.