Media Clippings

The Edge Financial Daily | 3 Jan 2019

KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd (KPS) announced yesterday that its chief executive officer (CEO) Ahmad Fariz Hassan has been appointed the group’s managing director (MD), effective Tuesday.

In a statement, the group said Ahmad Fariz will now serve as both the group’s MD and group CEO. His tenure as CEO started on May 1, 2016.

Coming from an accounting background, Ahmad Fariz has 20 years of experience in the banking, investment and property development sectors, and was previously with Ekuiti Nasional Bhd and Khazanah Nasional Bhd.

Meanwhile, the group said Koay Li Onn has been appointed its independent non-executive director, also effective on Tuesday. Koay is currently MD of Bangsawan Group, which provides corporate, financial and strategic advice across Singapore and Malaysia, and has 22 years of experience in law, finance and banking.

KPS chairman Raja Shahreen Raja Othman said the group’s latest boardroom changes reflect its “ongoing strategic shift towards becoming a high-growth and returns-focused entity”. He said Ahmad Fariz has been a pivotal force in conceptualising and realising the group’s business transformation plan, where various acquisitions of new businesses and holding of majority stakes in growth-centric companies have placed the group on a path of sustainable expansion.

With full responsibility for the leadership and development of KPS, he will now be tasked to play an even greater role in meeting the group’s ambitious business plan going forward, Raja Shahreen said.