KUALA LUMPUR (May 29): Permodalan Nasional Bhd (PNB), one of the country's largest fund management companies, has appointed Raja Tan Sri Arshad Raja Tun Uda as group chairman from June 1. He is taking over a role left vacant when Tun Arifin Zakaria retired on May 6 after completing his two-year term.
The Edge Malaysia weekly reported in its May 8-14, 2023 edition that Raja Arshad is likely to be appointed PNB chairman.
This confirms The Edge Malaysia weekly article titled Raja Arshad likely to be appointed PNB chairman.
In a statement on Monday (May 29), PNB said Raja Arshad is currently chairman of Ekuiti Nasional Bhd, Icon Offshore Bhd and Bumi Armada Bhd. He was formerly a director of Maxis Bhd and Khazanah Nasional Bhd.
PNB also said Raja Arshad was formerly the executive chairman of PricewaterhouseCoopers (PwC) Malaysia and chairman of the Leadership Team of PwC Asia 7. "During the Asian financial crisis of 1997, Raja Arshad was appointed chairman of Danamodal Nasional Bhd, one of three special purpose vehicles set up by the government to manage the crisis," it added.
He was appointed as the first chairman of the Malaysian Accounting Standards Board. Internationally, he was a member of the Standards Advisory Council of the International Accounting Standards Board and a member of the PwC Global International Financial Reporting Standards (IFRS) Board.
He served as a member of the Securities Commission Malaysia when it was first established. He was also a member of the Malaysian Communications and Multimedia Commission, and the Investment Panel of the Employees Provident Fund.
Raja Arshad chairs the board of trustees of Yayasan Raja Muda Selangor and Yayasan Amir. He is also a member of the board of trustees of Lembaga Zakat Selangor and Yayasan DayaDiri.
He is also Chancellor of University Selangor.
Raja Arshad is a Fellow of the Institute of Chartered Accountants in England and Wales. He is also a member of the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants, where he served on its Council for 24 years, three of which as president.