S P Setia's Liew, Teow, Lee step down as CEO, CFO, director

KUALA LUMPUR: S P Setia Bhd has announced the resignation of its chief executive officer (CEO) Tan Sri Liew Kee Sin, chief financial officer Datuk Teow Leong Seng and non-independent & non-executive director Tan Sri Lee Lam Thye.

In a statement on Monday, the group said Liew will leave on Apr 30, 2014 whilst Teow will stay on until Jul 31, 2014. Lee resigns immediately as a non-independent and non-executive director.

The group has appointed its chief operating officer Datuk Voon Tin Yow as acting president and CEO for one year from May 1, 2014 until Apr 30, 2015.

Chairman Tun Zaki Tun Azmi said over the next year the group intends to work with its major shareholder Permodalan Nasional Bhd, before finalising potential successors.

Under Liew’s leadership, S P Setia has achieved RM8.24bil in sales in FY2013. As at Oct 31, 2013, it had RM9.6bil in unbilled sales to be realised over the next few years.

Liew said: “Given the solid footing which the company is on, I believe the time has arrived for me to step down after 18 years as CEO.

With my children all growing up and starting out on their own career paths, I am looking forward to spending more time with them, mentoring and guiding them,” he said.

However, Liew will continue to represent S P Setia as chairman of the Battersea Project Holding Company Limited and also managing director of Qinzhou Development (Malaysia) Consortium Sdn Bhd until September 2015.