KUALA LUMPUR (Oct 31): Majuperak Holdings Bhd said Nizran Noordin is leaving the group after completing his contract as the chief executive officer on Monday (Oct 31). He will be replaced by the group's chief financial officer (CFO) Syed Agil Syed Hashim.
Nizran, 45, was appointed as Majuperak's CEO on Nov 1, 2019, and to its board as an executive director on June 10, 2020, according to the group's filing with Bursa Malaysia.
He was on garden leave from Sept 2 to clear his leave balance before his contract ends and to facilitate the transition to a new leadership team.
Syed Agil, who will assume the CEO post on Tuesday, has been serving as acting CEO since Sept 5 during Nizran’s absence.
Syed Agil, 50, served the Perak State Development Corp (PKNP) as deputy chief executive from 2021, before joining Majuperak as general manager of corporate finance on July 1, 2022. On Aug 29, he was named as the group's CFO.
Majuperak, which is mainly involved in property development, is 51.41% owned by PKNP, its 2021 annual report showed. Other substantial shareholders include KUB Malaysia Bhd with a 5.07% stake and G Capital Bhd with a 7.67% stake.
Meanwhile, Majuperak has appointed Ahmad Izral Abdul Karim, 46, as its new CFO. He has over 20 years of experience in corporate, finance, accounting, audit and compliance, strategic planning, procurement, business structuring and administration, the group said.
Shares of Majuperak closed unchanged at 25 sen, valuing the group at RM71 million.
Source: TheEdge - 1 Nov 2022
