KUALA LUMPUR (Sept 4): HHRG Bhd (KL:HHRG) has appointed Malaysian tycoon Tan Sri Syed Azman Syed Ibrahim as executive chairman of the biomass firm effective immediately.

Syed Azman, founder of helicopter services firm Weststar Aviation, fills a role left vacant for more than two years. He owns a 2.8283% interest in the company.

Executive deputy chairman Datuk Ammar Shaikh Mahmood Naim who chaired HHRG following the resignation of Datuk H’ng Choon Seng in June 2024, will remain in the position.

“We hope Syed Azman’s appointment would bring more exposure to the company,” according to a spokesperson for HHRG.

Syed Azman is one of Malaysia’s richest men ranked by Forbes with a net worth of US$852 million (RM3.44 billion). He began his career in the Malaysian Armed Forces’ Royal Intelligence Corps, serving for 30 years before retiring as a major in 1994.

He later ventured into the automotive business, building a portfolio of brands including Honda, Chevrolet, Ford, Smart, Audi and Suzuki. In 2002, he founded Weststar Aviation Services, which provides offshore helicopter transportation services across several regions.

Under his leadership, the Weststar Group has since expanded into automotive, aviation, defence, construction, property, insurance, information communication technology, food and beverage and renewable energy, with operations in 11 countries.

HHRG, formerly known as Heng Huat Resources Group Bhd, also manufactures furniture and mattresses as well as operates money lending business. H’ng, the former chairman, stepped down due to unspecified personal reasons.

Shares of HHRG were down by half a sen or 3.3% to 14.5 sen at Friday’s market close, giving the group a market value of RM189.2 million. Year to date, the counter has doubled.