KUALA LUMPUR (Sept 25): A wave of third-generation members of the founding Yeoh family has been appointed to the boards of three YTL group listed entities, mostly as alternate directors to their parents, in what appears to be a concerted move to prepare the next generation for leadership succession.

A total of 12 appointments were announced via a series of Bursa Malaysia filings on Thursday evening, involving flagship YTL Corporation Bhd (KL:YTL), utility giant YTL Power International Bhd (KL:YTLPWR) and building materials arm Malayan Cement Bhd (KL:MCEMENT).

The 12 — aged between 25 and 41 — are all grandchildren of the late patriach Tan Sri Yeoh Tiong Lay and Puan Sri Tan Kai Yong, who had seven children: five sons and two daughters.

All seven branches of the second generation were represented in the latest boardroom exercise.

The eldest, Tan Sri Francis Yeoh Sock Ping, 72, who serves as executive chairman of all three listed entities, has his oldest son — Yeoh Keong Yeow, 41 — joining the boards of YTL Corp and YTL Power as his executive alternate director. Another son, Yeoh Keong Junn, 37, joins Malayan Cement as an alternate director.

Two of Sock Ping's brothers, Datuk Seri Yeoh Seok Hong and Datuk Seri Michael Yeoh Sock Siong, also have two children each named in Thursday's appointment filings.

Seok Hong, 67, managing director of YTL Power and executive director of YTL Corp and Malayan Cement, has his son Yeoh Keong Hann, 40, elevated to a full executive director at YTL Power and an executive alternate director at YTL Corp. Another son, Yeoh Keong Yuan, 37, joins Malayan Cement as an alternate director.

Sock Siong, 66, managing director of Malayan Cement and executive director of YTL Corp and YTL Power, has his daughter Yeoh Pei Jen, 29, appointed as executive alternate director at both YTL Corp and YTL Power.  Her twin, Yeoh Pei Yen, joins Malayan Cement as an alternate director.

Another brother, Datuk Yeoh Seok Kian, 69, managing director of YTL Corp and executive director of YTL Power and Malayan Cement, sees his son Yeoh Keong Wei, 30, appointed as alternate director across all three listed vehicles.

The youngest brother, Datuk Setia Mark Yeoh Seok Kah, 61, an executive director of YTL Corp and YTL Power, has his daughter Yeoh Pei Xien, 25, appointed as an executive alternate director at both YTL Corp and YTL Power. Pei Xien is the youngest of the 12 involved in the boardroom appointments on Thursday.

The older of his two sisters, Datuk Yeoh Soo Min, 70, an executive director of YTL Corp and YTL Power, has her daughter Tan Chien Hwei, 36, appointed as executive alternate director at both companies.

The younger sister Datuk Yeoh Soo Keng, 63, an executive director of all three listed entities, has three children joining the companies' listed boards. Her daughter Choy Yuin Yi, 34, joins YTL Corp as executive alternate director. Her son Choy Kin Mann, 32, joins YTL Power as executive alternate director. Another daughter, Choy Yuin Quan, 26, was named an alternate director at Malayan Cement.

On Thursday, YTL Corp’s share price dipped nine sen or 3.7% to close at RM2.34, giving the group a market capitalisation of RM27.43 billion.

Its 52.46%-owned YTL Power settled 11 sen or 1.86% lower at RM5.80, valuing it at RM50.7 billion; 59.25%-owned Malayan Cement closed eight sen or 1.44% higher at RM5.64 for a market cap of RM9.40 billion.