Sunsuria appoints new CEO

PETALING JAYA: Property developer Sunsuria Bhd has appointed Koong Wai Seng as chief executive officer.

In a filing with Bursa Malaysia, Sunsuria said Koong succeeded Ho Hon Sang, who has resigned to pursue other interests. 

The company said Ho would take up an advisory role to the founder and executive chairman, Datuk Ter Leong Yap.

“Ho has been instrumental in realising the vision of Sunsuria and we are grateful for his in-depth property industry experience and network in leading the team and he will continue to be an invaluable resource as the adviser,” Ter said in a statement. 

“Koong is a proven leader with strong business vision and ability to bring people together from all levels. He is also very passionate and highly committed to the company mission and core values,” he added. 

Koong, 49, has more than 20 years of financial and general management experience in a variety of industries including audit, financial advisory, retail, leisure, hospitality, healthcare, property development and property investment.

Meanwhile, Sunsuria’s net profit rose to RM3.15mil in the second quarter ended March 31, 2016 compared with RM1.47mil posted a year ago. 

The company saw revenue and pre-tax profit from continuing operations of RM38.82mil and RM5.11mil respectively, compared with RM17.07mil and RM2.10mil recorded in the previous corresponding quarter. 

Sunsuria attributed the increase in the pre-tax figure due to the gain from the disposal of shares in a subsidiary.