KUALA LUMPUR (Aug 14): Malakoff Corp Bhd (KL:MALAKOF) has appointed Syahrunizam Samsudin as its group chief executive officer (CEO), effective Sept 1.
The appointment follows the resignation of Anwar Syahrin Abdul Ajib, who is stepping down after nearly five years as managing director and group CEO. He joined the independent power producer company in December 2020, according to bourse filings.
Thursday’s announcement confirms The Edge Weekly’s July 28–Aug 3 report titled “Syahrunizam Samsudin could be helming Malakoff”, which reported that he was in talks with Malakoff over the top post.
Malakoff is known as Malaysia’s largest independent power producer with a generating capacity of 6,953MW, complemented by an expanding renewable energy portfolio of 173MW.
Through its subsidiary Alam Flora Sdn Bhd, the group is also a major player in the waste management sector.
Malakoff also has power generation and water desalination ventures outside of Malaysia, namely, Saudi Arabia, Bahrain and Oman. The group is 38.45%-owned by MMC Corp Bhd, the flagship company of tycoon Tan Sri Syed Mokhtar Albukhary.
At Thursday’s closing bell, shares of Malakoff were 1.5 sen or 1.58% lower at 93.5 sen, giving it a market capitalisation of RM4.65 billion.