KUALA LUMPUR (Oct 30): KUB Malaysia Bhd (KL:KUB) has redesignated its non-independent non-executive director Megat Joha Megat Abdul Rahman as chairman, following the retirement of Datuk Seri Norliza Abdul Rahim.
The change took effect on Oct 30, according to separate bourse filings by the diversified group.
Megat Joha, 62, is currently chairman of CI Holdings Bhd (KL:CIHLDG) and a director of Marine & General Bhd (KL:M&G).
He previously also served as group managing director of CI Holdings from 2015 to 2023 and chairman of Central Cables Bhd between 2013 and 2023. His earlier career includes senior roles at Boustead Sissons Paints Sdn Bhd, Majuperak Holdings Bhd (KL:MJPERAK), Maybank Securities Sdn Bhd and Bursa Malaysia’s predecessor, the Kuala Lumpur Stock Exchange.
Meanwhile, Norliza, 56, who retired as independent non-executive chairman, had served as chairman of the board since Dec 2023.
KUB and CI Holdings have a common major shareholder — JAG Capital Holdings Sdn Bhd, the investment vehicle of Plantation Industries and Commodities Minister Datuk Seri Johari Abdul Ghani. The minister holds a 62.8% stake in KUB and a 32.9% stake in CI Holdings.
Johari’s son, Amir Nashrin Johari, sits on both boards, as non-independent non-executive director at KUB and executive director at CI Holdings.
Shares in KUB dipped five sen or 5.05% to close at 94 sen on Thursday, giving the group a market capitalisation of RM523.82 million.