KUALA LUMPUR (Aug 15): Property developer S P Setia Bhd (KL:SPSETIA) on Friday announced the appointment of its chief operating officer, Datuk Zaini Yusoff, as the company’s new president and chief executive officer.
Zaini will assume the role on Sept 30, following the retirement of Datuk Choong Kai Wai, 65, who has led the company as its president and CEO since October 2021.
Joining from I&P Group Sdn Bhd in 2017, S P Setia said Zaini has served as its COO since 2023. He is also the deputy president of the Real Estate and Housing Developers' Association (Rehda) Malaysia, the company said in a statement.
“Datuk Choong has played a vital role in shaping Setia’s journey, and we hold his enduring contributions in the highest regard,” said S P Setia’s chairman Tan Sri Syed Anwar Jamalullail.
“The board is confident that Datuk Zaini will provide the strategic leadership needed to steer the company forward, strengthening our position as a leading and progressive property developer,” he added.
At Friday’s noon break, S P Setia shares settled one sen or 0.92% higher at RM1.10, giving the company a market value of RM5.5 billion.