KUALA LUMPUR, July 01, 2020 – Boustead Holdings Berhad (Boustead) today announced the appointment of Encik Izaddeen Daud as Executive Director of Group Business Development, effective 1 July 2020.
Encik Izaddeen, aged 51, first joined Boustead’s Board of Directors as an independent non-executive director on 18 May 2020. He brings with him a wealth of experience in the areas of accounting, audit and management.
In his new role as Executive Director of Business Development, Encik Izaddeen is tasked to facilitate the growth of Boustead by bringing in new businesses, building new prospective business relationships, as well as generating synergies between companies within the Group. Additionally, Encik Izaddeen will be assisting the Managing Director in supervising the unlisted companies under the Group’s Trading, Finance & Investment Division.
Dato’ Sri Amrin Awaluddin, Managing Director of Boustead Holdings Berhad, said, “As Boustead intensifies our efforts to put the Company back in the black, we are pleased to welcome Encik Izaddeen as our Executive Director to lead the Group’s business development arm. This role is all the more critical for the Group during these challenging and unprecedented times.”
“Boustead is currently focusing our efforts in addressing the company’s legacy issues as well as mitigating the impacts of the COVID-19 pandemic, and we do not have the luxury of stopping everything in order to fix things. With this new structure in place, Boustead will be able to allocate the essential resources in three key areas; strengthening our finances and operations, driving our Group-wide transformation initiatives for optimal business performance, whilst exploring new business opportunities and prospects to ensure the Group’s steady growth. With Encik Izaddeen in our ranks, we are confident that Boustead’s business prospects will continue to improve, with the assurance that our day-to-day operations and the progress of our transformation aspirations are well taken care of,” Dato’ Sri Amrin added.
About Boustead Holdings Berhad
Boustead Holdings Berhad (‘Boustead’), one of Malaysia’s oldest conglomerates, is Lembaga Tabung Angkatan Tentera (‘LTAT’)’s investment arm. The diversified Group comprises more than 90 subsidiaries, associate companies and joint ventures, and has substantial interests in various sectors of the Malaysian economy.
Its operations are focused in five key areas namely plantation, heavy industries, property & industrial, trading, finance & investment, and pharmaceutical.
Since its inception as a modest trading entity more than 190 years ago, the Boustead Group has grown by leaps and bounds. As at 31 March 2020, Boustead Holdings Berhad’s paid-up capital was RM2.7 billion while its shareholders’ funds stood at RM3.6 billion. Market capitalisation is currently in the region of RM1.3 billion. For more information on Boustead, log on to
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.