PETALING JAYA: Datuk Kris Azman Abdullah, director of the issues and investment division of the Securities Commission, has been tipped to be the CEO of financial guarantee institution, Danajamin Nasional Bhd.
Sources told StarBiz that Kris, who was former general manager of operations at national asset management company Pengurusan Danaharta Nasional Bhd, was selected out of three candidates.
At the SC, Kris is responsible for the regulatory functions in relation to the offering and issue of securities by public companies and/or listing of such securities on the stock exchange as well as the offering and issue of private debt securities by public companies and private companies.
The division also regulates disclosure requirements and registration of prospectuses, take-overs and mergers and all matters pertaining to unit trusts and other collective investment schemes.
At Danaharta, which took seven years to recoup and manage the non-performing loans of banks following the 1997 Asian financial crisis, Kris had worked with Danajamin chairman Datuk Seri Hamidy Hafiz.
Hamidy, former CEO of Affin Bank, was managing director of Danaharta from Aug 1, 2001 to June 30, 2003. He was also director of operations at Danaharta.
Ten years after the Asian financial crisis, their paths cross again, this time with a different challenge at Danajamin. Their role is mainly to help activate the capital market and provide long term funding to the corporates via the provision of an almost sovereign guarantee that would help improve their ratings and hence, investor appetite.
Danajamin is jointly owned by Bank Negara and the Ministry of Finance.
Did you find this article insightful?