KUALA LUMPUR (May 22): Yinson Holdings Bhd has appointed Fariza Ali @ Taib as non-independent non-executive director, replacing Rohaya Mohammad Yusof, effective May 31, 2023.

According to a filing to Bursa Malaysia, Fariza will replace Rohaya, who is resigning as a nominee director of the Employees Provident Fund (EPF) Board. EPF is the second largest shareholder in Yinson, with a 16.72% shareholding, followed by Kumpulan Wang Persaraan (KWAP) at 6.56%. Yinson Legacy Sdn Bhd is the largest shareholder with 19.71%, according to Bloomberg data.

Fariza is the head of the Real Estate Investment Market Department at EPF, where she oversees both global and domestic real estate portfolios.  

She joined EPF in 2014 as head of Fixed Income Portfolio and was subsequently appointed head of External Fund Management in 2019, responsible for managing a total of RM160 billion assets under management that extend across both listed equities and fixed income.

Prior to EPF, Fariza served as the head of Sukuk and Local Currency Investment at Asian Islamic Investment Management. She also holds directorship appointments in both public and private companies, actively involved in ensuring that these companies' strategic directions are aligned with their investment objectives.

Meanwhile, in a separate statement, Yinson group executive chairman Lim Han Weng said: “I am delighted to welcome Puan Fariza to the board. Her experience in the areas of portfolio management investments and capital markets will prove invaluable to the group as we navigate the transforming economic landscape and continue to drive growth across our business units.”

Lim also thanked Rohaya, who is the chief investment officer of EPF, for her contribution to the board since Jan 1, 2020.  

“As one of the most esteemed and highly respected figures in the financial industry, the group has immensely benefited from Puan Rohaya’s wealth of experience.

“The board was greatly strengthened by her visionary ability in rendering sound advice critical to the businesses’ direction and growth. On behalf of the board and everyone at Yinson, I would like to express my sincere thanks to her and wish her all the best in her future endeavour,” said Lim.

At the time of writing, Yinson was down 0.4% or one sen at RM2.56, implying a market capitalisation of RM7.44 billion.