BHB Announces Changes to Board

KUALA LUMPUR, July 26, 2019 - Boustead Holdings Berhad (BHB) today announced that the following Board members will be departing from the Group effective 31 July 2019

  1. Chairman and Non-Independent Non-Executive Director, Gen. Tan Sri Dato' Seri Panglima Mohd Ghazali Hj. Che Mat (R), aged 88, who joined the Group in 1990.

  2. Non-Independent Non-Executive Director, Datuk Azzat Kamaludin, aged 73, who joined the Group in 1991.

  3. Independent Non-Executive Director, Datuk Francis Tan Leh Kiah, aged 67, who joined the Group in 2012.

Also departing from the Board is Non-Independent Executive Director, Dato’ Sri Ghazali Mohd Ali, aged 71, who joined the Group in 2007. He remains a member of BHB’s senior management team in his role as Divisional Director, Property. In addition, he was recently appointed as Non-Independent Non-Executive Director of Boustead Plantations Berhad.

BHB expressed its deepest appreciation to the departing Board members, who played important roles in guiding the growth of the Group over the years. BHB wishes them all the very best in their journey ahead

Since its inception as a modest trading entity more than 180 years ago, the Boustead Group has grown by leaps and bounds to comprise more than 90 subsidiaries, associate companies and joint ventures, and has substantial interests in various sectors of the Malaysian economy. The Boustead Group's operations are focused in six key areas; plantation, heavy industries, property, finance & investment, trading & industrial and pharmaceutical. As at 31 March 2019, Boustead Holdings Berhad’s paid-up capital was RM2.7 billion while its shareholders’ funds stood at RM5.4 billion. Market capitalisation is currently in the region of RM2.3 billion  

Forward looking statements
This release may contain certain forward-looking statements with respect to the financial conditions, results of operations and business of the Group and certain plans and objectives of Boustead Holdings Berhad with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

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Issued on behalf of: Boustead Holdings Berhad
By: acorn communications sdn bhd
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Zamani Wisam at 012 350 7604 or Natalia Ghani at 012 231 4782
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