KUALA LUMPUR (Aug 28): UEM Sunrise Bhd (KL:UEMS) chairman Datuk Mohamad Hishammudin Hamdan is stepping down from the property developer’s board after three years.

Hishammudin, who has chaired UEM Sunrise since July 2023, is resigning to focus on his responsibilities at Khazanah Nasional Bhd and as chairman of UEM Group Bhd, according to the group’s bourse filing on Friday.

Following the changes, Datuk Azmar Talib will be taking over as chairman, effective Aug 30.

Azmar, who is group chief executive officer of TRX City Sdn Bhd, will relinquish his positions as chairman of UEM Sunrise’s board development committee and member of its board tender committee.

UEM Sunrise said in the filing that Azmar brings more than four decades of experience spanning investment management, financial services, property development and infrastructure. The group added that he has been leading the development of the Tun Razak Exchange (TRX) through TRX City since 2011, including its transition from master planning to the development of Malaysia’s international financial centre.

Azmar’s appointment comes with a disclosed potential conflict of interest, as TRX City and its subsidiary, Bandar Malaysia Sdn Bhd, have principal activities that overlap with UEM Sunrise, including property development and property investment.

The filing said Azmar is a director of Bandar Malaysia, while continuing to serve as group CEO of TRX City.

Azmar holds a bachelor’s degree in estate management from Universiti Teknologi Mara and a qualification in financial risk management from Harvard Business School.