KUALA LUMPUR (Nov 13): WCT Holdings Bhd (KL:WCT) has appointed Lai Cheng Yee as its new group managing director, replacing Datuk Lee Tuck Fook, who has been redesignated as executive vice-chairman, effective Friday.

In separate bourse filings, WCT Holdings also announced the resignation of deputy managing director Datuk Chow Ying Choon, who stepped down as part of the company's “strategic reorganisation of duties and responsibilities”.

Lee, 72, has held senior management and board positions at several Malaysian conglomerates, including Samling Group, Renong Overseas Corporation, Peremba-Kentz Ltd, Cement Industries of Malaysia Bhd, Paracorp Bhd, Malton Bhd (KL:MALTON) and Pesona Metro Holdings Bhd (KL:PESONA). He began his career at KPMG in 1974, where he became a partner in 1985 before leaving in 1990.

Lee is also currently a non-independent executive director of Pavilion REIT Management Sdn Bhd, the manager of Pavilion Real Estate Investment Trust (KL:PAVREIT), as well as a director of WCT Bhd, Pavilion REIT Bond Capital Bhd and Pavilion REIT Capital Bhd, according to the filing.

Meanwhile, WCT Holdings said Lai brings more than 20 years of professional experience across several local and multinational companies, including B.I.G. Industries Bhd, Pavilion Group, Diethelm Malaysia, Procter & Gamble and Fraser & Neave Holdings Bhd (KL:F&N).

She joined WCT Holdings in August 2018 as director of the executive chairman's office. Since June 2024, she has headed the group's hospitality, aviation and food and beverage divisions, while also overseeing its concession-related projects, engineering and construction, and property development divisions.

Lai has served as a board member of Tourism Malaysia since September 2023.

She is also currently a non-independent non-executive director of Paradigm REIT Management Sdn Bhd, the manager of Paradigm REIT (KL:PARADIGM).

Shares of WCT Holdings rose half a sen or 1.89% to 27 sen on Friday, giving the group a market capitalisation of RM421.1 million.