KUALA LUMPUR (June 3): Datuk Phang Ah Tong has been appointed as an independent and non-executive director of Media Prima Bhd, the media group’s bourse filing showed on Friday (June 3).

Phang, 64, is currently the chairman of the Malaysia Automotive Institute, an agency under the Ministry of International Trade and Industry.

According to Media Prima, Phang has had a distinguished career in the civil service of Malaysia, spanning 36 years in promoting foreign and domestic investments.

The media group added that Phang also assisted in developing the manufacturing and services sectors in Malaysia under the Malaysian Investment Development Authority (MIDA), where his last held position was as deputy chief executive officer before his retirement in 2017. 

Starting out in 1981 as an economist in MIDA, Media Prima noted that Phang served in various capacities including being the assistant trade commissioner for MIDA London and director of MIDA New York. 

Upon returning to the MIDA headquarters, Phang was appointed as director of foreign direct investment (FDI), overseeing the promotion of global FDI into Malaysia. 

“He was also involved in organising and participating in many trade and investment missions overseas, led by either the prime minister or ministers of international trade and industry. 

“His distinguished contribution in these capacities led to his appointment as the deputy chief executive officer of MIDA in 2013,” said Media Prima.

As for his working experience in the corporate world, Phang is the independent non-executive chairman of JF Technology Bhd and independent non-executive director of Inari Amertron Bhd, Apex Healthcare Bhd and United Overseas Bank (Malaysia) Bhd.

Phang holds a bachelor of economics (honours) from the University of Malaya and has attended several notable senior management programmes, namely the Harvard Business School and "Institut Européen d'Administration des Affaires" (INSEAD).

Media Prima Bhd’s net profit in the first quarter ended March 31, 2022 (1QFY22) grew by 14.9% to RM6.03 million compared to RM5.25 million, supported by lower depreciation and amortisation expenses, together with higher other operating income, despite a 2.77% decline in quarterly revenue to RM247.47 million.

Media Prima’s share price finished 1.01% or half a sen higher at 50 sen on Friday, bringing a market capitalisation of RM548.94 million.