KUALA LUMPUR (March 30): Former Maybank Investment Banking Group (Maybank IBG) chief executive officer Datuk Hamidah Moris (better known as Ami Moris) has been appointed to the board of Cypark Resources Bhd as an independent and non-executive director, effective Thursday (March 30).
This confirms a report by The Edge earlier on Thursday, which citing sources, reported that Ami would be joining the renewable and solid waste management company's board.
In a bourse filing, Cypark said that in Ami's role as Maybank IBG CEO, she served a leading role in its elevation from a single-market Malaysian entity into Asean's leading homegrown investment bank with business operations in 10 countries.
“Maybank IBG became Asean's largest equities franchise and was voted Best Broker in Southeast Asia for nine consecutive years; while consistently placing in the top 10 of Asean's investment banking league table,” it said.
The company said Ami co-anchored the Invest Malaysia capital market conference series with Bursa Malaysia Bhd which has become the primary platform for the Malaysian government’s capital market announcements.
“Ami has also led the creation of Maybank Group’s Invest Asean capital market conference series in Singapore since 2015 with annual instalments across Asean; bringing corporate access, deal flow and thought leadership to regional and global funds,” it added.
In December last year, Ami departed the post of Maybank IBG CEO, a post she held since 2018.
At the beginning of 2023, Cypark saw the emergence of Jakel Capital — the investment arm of Jakel Group — as its single largest shareholder holding a 27.33% stake through a private placement exercise on Jan 4.
Following the exercise, Cypark appointed Jakel Capital CEO Muhammad Ashraf Muhammad Amir as a non-independent and non-executive director on Feb 14. On the same day, Cypark also appointed Mohd Adzahar Abdul Wahid, who has 32 years of experience in banking and financial services, as an independent and non-executive director.
For the financial year ended Oct 31, 2022, Cypark's profit fell 35.4% to RM48.7 million, from RM75.42 million a year earlier, while revenue shrank nearly 22% to RM246.89 million from RM315.32 million.
As at end-October last year, the debt-laden company’s total borrowings amounted to RM1.49 billion, comprising current and non-current borrowings of RM311.22 million and RM1.18 billion respectively. Its cash balance stood at RM187.35 million.
Shares in Cypark ended one sen or 1.38% lower at 71.5 sen, giving the company a market capitalisation of RM559.25 million.