PETALING JAYA: Boustead Heavy Industries Corp Bhd (BHIC) has appointed Datuk Ahmad Nazim Abdul Rahman as non-executive non-independent director of Lembaga Tabung Angkatan Tentera (LTAT) and Irfan Hashim as his alternate director.
BHIC said the appointment of both individuals took effect yesterday.
The company noted that Ahmad Nazim, 46, had many years of high-level experience in the corporate sector. Among the positions he held were CEO of Pelaburan MARA Bhd from 2013 to 2018; director at National Bank of Abu Dhabi in Abu Dhabi and in Kuala Lumpur between 2009 and 2012, and associate at Norton Rose Fullbright LLP in London from 2012 to 2013. He was also a senior associate at the Securities Commission from 2001 to 2008.
Ahmad Nazim is also a member of the Energy Commission and the chairman of its Economic Committee.
In addition, he is in the management board of the National Higher Education Fund Corp. He also sits on the board of Omnesti Bhd as an independent/non-executive director and Regulus Advisors Pte Ltd, Singapore, as a non-executive director.
As for Irfan, BHIC noted that the 38-year-old is an engineer by training but experienced in corporate finance. He is currently head of corporate finance at LTAT and was an assistant vice-president, private equity of Kumpulan Wang Persaraan from 2015 to 2019. Irfan also served in the corporate finance department of Permodalan Nasional Bhd from 2006 to 2014.
BHIC said the company looked forward to the vast experience of Ahmad Nazim and Irfan to help navigate the company towards becoming a high-performing organisation, in line with the “Reinventing Boustead” strategy to set the Boustead group on a stronger footing towards attaining sustainable growth.
BHIC’s shares ended 2.5 sen lower yesterday at 50 sen.
For the six months to June 2021, BHIC posted a net profit of RM11.39mil on a revenue of RM66.10mil. This compared with a net profit of RM19.82mil on a revenue of RM79.95mil in the corresponding period last year.