<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 30): Clement Chen Kok Peng, who joined the Sunway group as finance trainee nearly two decades ago, is set to be the successor to Sunway Real Estate Investment Trust (Sunway REIT) chief executive officer (CEO) Datuk Jeffrey Ng Tiong Lip.<br />
&nbsp;<br />
The REIT said its manager, Sunway REIT Management Sdn Bhd, has appointed Chen as deputy CEO, effective Oct 1, as part of its succession plan.</p></div>

<div class=newsTextDataWrapInner><p>He will be the successor to Ng after the latter's anticipated retirement in June next year, added Sunway REIT in its filing with Bursa Malaysia on Friday.</p></div>

<div class=newsTextDataWrapInner><p>Chen, 40, joined Sunway group as a finance trainee in 2004, and attained his Institute of Chartered Accountants in England and Wales qualification in 2007.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>He has since taken on various other roles within Sunway group including as the financial controller of Sunway Hatay Co Ltd, Vietnam in 2008 and as assistant general manager of corporate finance and investor relations of Sunway Bhd from 2009 to 2015.</p></div>

<div class=newsTextDataWrapInner><p>During his tenure with corporate finance, Chen oversaw the listing of Sunway Bhd, Sunway REIT and Sunway Construction Group Bhd.</p></div>

<div class=newsTextDataWrapInner><p>Units of Sunway REIT closed two sen or 1.45% higher at RM1.40 on Friday, giving it a market capitalisation of RM4.79 billion.</p></div>


Clement Chen Kok Peng, who joined the Sunway group as finance trainee nearly two decades ago, is set to be the successor to Sunway Real Estate Investment Trust (Sunway REIT) chief executive officer (CEO) Datuk Jeffrey Ng Tiong Lip.
 
The REIT said its manager, Sunway REIT Management Sdn Bhd, has appointed Chen as deputy CEO, effective Oct 1, as part of its succession plan.

Clement Chen set to be Jeffrey Ng's successor as CEO of Sunway REIT

The auditor general has been empowered to conduct audits on the accounts of 1,856 other companies, including the government-linked companies (GLCs) which came into effect on Friday.

Auditor general empowered to audit account of 1,856 other bodies, GLCs

Prime Minister Datuk Seri Anwar Ibrahim has insisted that he will not block and interfere in the investigation of the National Farmers' Organisation (Nafas) and Khazanah Nasional Bhd by the authorities including the Malaysian Anti-Corruption Commission (MACC).

Anwar: No obstruction, no interference in probe on Nafas, Khazanah

About two years ago, in the aftermath of the COVID-19 pandemic, China’s economy hit a roadblock. As all sectors underwent deleveraging, economic growth slowed, household savings rates increased, and businesses scaled back their investments and accumulated savings. Many now wonder whether consumer...

Finance in the 21st Century: Is China Facing a Deflationary Trap?

Elon Musk was dealt a significant setback in a court fight over his purge of Twitter Inc’s top executives when he took over the company in 2022.

Musk loses bid to dismiss ex-Twitter CEO’s severance lawsuit

Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has appointed Nazaiful Affendi Zainal Abidin as the chief strategy and services officer effective Nov 1, 2024.

KWAP appoints Nazaiful Affendi as chief strategy and services officer

Kamala Harris has made freedom a central theme of her campaign. Under the heading“Safeguard our fundamental freedoms,” her website explains that: “Vice President Harris’s fight for our future is also a fight for freedom. In this election, many fundamental freedoms are at stake: the freedom to mak...

Unconventional Economic Wisdom: Harris Is the Freedom Candidate

U Mobile Sdn Bhd, which has been selected to implement the country’s second 5G network, will reduce its foreign majority shareholding to 20% to ensure greater Malaysian control and invite participation from local investors.

U Mobile to reduce foreign majority shareholdings to 20%

The wife of Zhu Su, the co-founder of collapsed cryptocurrency hedge fund Three Arrows Capital, has managed to sell a mansion she owns in Singapore for S$51 million (US$38.5 million or RM168.45 million), despite a court-imposed freeze against some of the couple’s other assets.

Disgraced Three Arrows founder’s wife sells US$39m Singapore mansion

Chevron Corp indicated potential US job cuts as part of a new cost-cutting plan.

The US$3 billion (RM13.14 billion) in targeted “structural” cost savings will come from asset sales, the use of new technology and workflow changes, chief executive officer Mike Wirth said during an interview. Chevron recently opened up a US$1 billion innovation hub in Bengaluru, India, which is hiring workers for engineering and digital services.

Chevron flags possible job cuts in US$3b cost plan

Investors are bracing for a busy week packed with economic data, the third-quarter earnings season and, more importantly, the results of the US presidential election on Tuesday.

The Week Ahead: Attention on US presidential election, monetary policy decisions, economic data

<p>AMMB Holdings Bhd (KL:AMBANK) — better known as AmBank Group — has been busy putting into action a five-year strategic plan, in which delivering better returns to shareholders is one of its key goals.</p>


AmBank off to a good start

<p>U Mobile Sdn Bhd, which has been selected to implement the country’s second 5G network, will reduce its foreign majority shareholding to 20% to ensure greater Malaysian control and invite participation from local investors.</p>


<p>The wife of Zhu Su, the co-founder of collapsed cryptocurrency hedge fund Three Arrows Capital, has managed to sell a mansion she owns in Singapore for S$51 million (US$38.5 million or RM168.45 million), despite a court-imposed freeze against some of the couple’s other assets.</p>


<p>Intel will be replaced by Nvidia on the blue-chip Dow Jones Industrial Average index after a 25-year run, underscoring the shift in the chipmaking market and marking another setback for the struggling semiconductor firm.</p>


Nvidia to take Intel's spot on Dow Jones Industrial Average

<p>Investors are bracing for a busy week packed with economic data, the third-quarter earnings season and, more importantly, the results of the <b>US presidential election</b> on Tuesday.</p>


<p>Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has appointed Nazaiful Affendi Zainal Abidin as the chief strategy and services officer effective Nov 1, 2024.</p>


<p>Prime Minister Datuk Seri Anwar Ibrahim has insisted that he will not block and interfere in the investigation of the National Farmers' Organisation (Nafas) and Khazanah Nasional Bhd by the authorities including the Malaysian Anti-Corruption Commission (MACC).</p>


<p>A double dose of potentially market-moving events arrives in the coming week as Americans vote on their next president and the Federal Reserve (Fed) offers more insight on the path of interest rates at its monetary policy meeting.</p>


US election, Fed meeting loom in big week for markets

<p>Chevron Corp indicated potential US job cuts as part of a new cost-cutting plan.</p>

<p>The US$3 billion (RM13.14 billion) in targeted “structural” cost savings will come from asset sales, the use of new technology and workflow changes, chief executive officer Mike Wirth said during an interview. Chevron recently opened up a US$1 billion innovation hub in Bengaluru, India, which is hiring workers for engineering and digital services.</p>


<p>Elon Musk was dealt a significant setback in a court fight over his purge of Twitter Inc’s top executives when he took over the company in 2022.</p>


<p>Kamala Harris has made freedom a central theme of her campaign. Under the heading“Safeguard our fundamental freedoms,” her website explains that: “Vice President Harris’s fight for our future is also a fight for freedom. In this election, many fundamental freedoms are at stake: the freedom to mak...

<p>About two years ago, in the aftermath of the COVID-19 pandemic, China’s economy hit a roadblock. As all sectors underwent deleveraging, economic growth slowed, household savings rates increased, and businesses scaled back their investments and accumulated savings. Many now wonder whether consumer...

<p>The auditor general has been empowered to conduct audits on the accounts of 1,856 other companies, including the government-linked companies (GLCs) which came into effect on Friday.</p>
