PUTRAJAYA: Petroliam Nasional Bhd (Petronas) chairman Tan Sri Ahmad Nizam Salleh has been appointed as Pelaburan Hartanah Berhad (PHB) chairman, according to the Prime Minister’s Office.

       Ahmad Nizam’s position in Petronas will be taken over by Tan Sri Mohd Bakke Salleh (pic), who is currently serving as Telekom Malaysia Bhd chairman.

       Both appointments will take effect on Aug 1.

       “The government is continuing efforts to transform government-linked companies so that it will remain strong and prepared for the post Covid-19 recovery phases. Changes will be made from time to time,” said the PMO in a statement on Monday (July 12).

       The Prime Minister also expressed his appreciation for Ahmad Nizam’s leadership and contribution as Petronas chairman for the past three years.

       “Based on his 37 years’ experience with Petronas in various capacities and positions, Ahmad Nizam has successfully steered the company while facing many challenges, including uncertain global oil prices and the Covid-19 pandemic.

       "Petronas remains to have a good international credit rating and is listed in the Global Fortune 500,” it said.

       The PMO said Ahmad Nizam will remain as chairman of KLCC Property Holdings Bhd, adding that his experience in Petronas and in managing KLCC properties will bring changes to PHB’s management and way forward, particularly in boosting bumiputra ownership in commercial property ownership.

       “Mohd Bakke is an experienced corporate figure whose skills and knowledge with the support from the existing board of directors and management team will lead Petronas towards excellence during these challenging times,” it added.