KUALA LUMPUR: IJM Corp Bhd deputy chief executive officer (CEO) and deputy managing director (MD) Datuk Soam Heng Choon will take over the helm of the group from April 6 this year, replacing Datuk Teh Kean Ming, who is retiring on April 5.

In a statement yesterday, IJM Corp (fundamental: 1.1; valuation: 1.2) said the appointment of Soam is in line with its established succession plan.

Soam, 55, started his career with the group in 1989 and was appointed deputy CEO and deputy MD on June 7, 2013.

“Datuk Soam not only has extensive experience in construction and property development helming IJM Land (Bhd) since 2004, he also has good exposure to the group’s business operations,” IJM Corp chairman Tan Sri Abdul Halim Ali said in the statement.

“With his vast experience in the industry and well-established network, I am confident he has the market know-how to further drive the group’s growth. He is equipped with the right leadership skills, and I believe he will continue to develop our strong company culture and good corporate governance” he added.

IJM Corp also appointed Lee Chun Fai to take over Soam’s position, with effect from April 6 as well. 

The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for more details on a company’s financial dashboard.

This article first appeared in The Edge Financial Daily, on March 17, 2015.