KUALA LUMPUR (Oct 6): Dagang Nexchange Bhd (DNeX) has appointed Muhammad Saifullah Mohd Isa, the son of its largest shareholder Mohd Isa Ismail, as its executive director (ED), effective Friday.

Mohd Isa has an indirect 14.415% stake in the technology, energy and IT company, held via Arcadia Acres Sdn Bhd and Annedjma Capital Sdn Bhd, according to DNeX’s bourse filing. He also has a direct 0.002% stake.

The 33-year-old Muhammad Saifullah was appointed after DNeX’s former ED Zainal 'Abidin Abd Jalil resigned in March this year due to personal commitment.

“Muhammad Saifullah is currently the head, corporate strategy and investment of the company. He is responsible for leading the planning of the group’s medium- and long-term growth and strategy plan, as well as overseeing the execution of the strategy,” it said.

He has over 13-years of experience in the financial services sector, specialising in capital markets and investment banking. He previously served at the corporate finance department of MIDF Amanah Investment Bank Bhd, the corporate finance division of AmInvestment Bank Bhd and the corporate banking department of Malayan Banking Bhd (Maybank).

“He also has experience in the fast-moving consumer goods and logistics industry through a stint with Khazanah Nasional Bhd’s wholly owned investee company Malaysian Agrifood Corp Bhd, where he served in the business development division. He was also the Securities Commission’s (SC) capital markets services representative’s licence holder during his stint in investment banking,” it added.

At market close on Friday, shares in DNeX, which has fallen 17.31% year-to-date, finished unchanged at 43 sen, valuing the group at RM1.34 billion.