KUALA LUMPUR (Dec 12): Following his appointment to the Cabinet as the Plantation and Commodities Minister on Tuesday, Datuk Seri Johari Abdul Ghani has relinquished his chairman's post at CI Holdings Bhd with immediate effect.

This was announced by CI Holdings, which is involved in the manufacturing and packaging of edible oils, in a bourse filing on the same day.

The chairman's post vacated by Johari, who is also the Titiwangsa Member of Parliament (MP), will be filled by Megat Joha Megat Abdul Rahman, who has been redesignated as CI Holding's new group chairman.

According to the group, Megat Joha, 60, is also a board member of KUB Malaysia Bhd, Marine & General Bhd as well as Central Cable Bhd.

Prime Minister Datuk Seri Anwar Ibrahim on Tuesday morning announced the Cabinet reshuffle that saw 11 Cabinet changes, including Johari's appointment. Other notable appointments included that of Datuk Seri Amir Hamzah Azizan as the Finance Minister II.

Johari, through his investment vehicle — JAG Capital Holdings Bhd — holds 32.96% in both CI Holdings Bhd and KUB Malaysia.

He also owns a 13.85% stake in MyNews Holdings Bhd.

He was previously involved in KFC Holdings (M) Bhd and QSR Brands Bhd, but sold off his holdings in 2005.

Shares in CI Holdings ended four sen or 1.34% higher at RM3.02 on Tuesday, giving the group a market capitalisation of RM489.24 million.