KUALA LUMPUR (April 14): IOI Properties Group Bhd has appointed Datuk Voon Tin Yow as chief executive officer (CEO), replacing Lee Yeow Seng who has been redesignated as the group’s executive vice-chairman. 

In its filing with Bursa Malaysia today, the group said the appointments take effect tomorrow (April 15).

IOI Properties said that as the new CEO of the group, Voon will be responsible for the overall management of the group’s business in various business segments, which include property development, property investment, and hospitality and leisure, as well as take helm to execute strategies that deliver sustainable growth for the group.

It said this was due to his 35 years of experience in the construction and property development industry.

Prior to joining the group, Voon was an executive director of EcoWorld Development Group Bhd since 2015 and held the position of non-independent non-executive director of EcoWorld International Bhd since 2017.

Voon graduated from The University of Texas at Austin and holds a Master’s Degree in Science Engineering as well. 

Meanwhile, Lee will be responsible for strategic direction in sustaining the overall growth of IOI Properties as the group’s executive vice-chairman.

Lee, who is a graduate from King’s College in London, was the CEO of IOI Properties for six years from Jan 8, 2014 until Jan 14, 2020.

He was first appointed to the Board as executive director in 2013 as he was actively involved in corporate affairs and general management within the group prior to the demerger and listing of the group.

IOI Properties non-executive chairman Datuk Tan Kim Leong said the appointments will enhance the executive leadership of the team and strengthen the group’s position as one of the leading property developers in Malaysia.

At 2.07pm, shares in IOI Properties rose 1.09% or one sen to 92.5 sen, valuing the group at RM5.07 billion. The group saw some 97,500 shares traded.