Sarena to assume full control of Sunway’s key property unit


Sarena will take over her new role in Sunway’s property development division when existing joint managing director Ong resigns.

PETALING JAYA: Sarena Cheah, the daughter of Sunway Bhd founder Tan Sri Dr Jeffrey Cheah and anointed successor, will assume full control of the group’s key property unit effective May 1.

Sarena, 40, is currently the joint managing director of the group’s property development division (PPD). She will take over the new role when existing joint managing director Ong Pang Yen resigns.

Ong, 52, would be resigning effective May 1, 2015 to join Sunway Education Group Sdn Bhd (SEG), the company told Bursa Malaysia.

Ong has been a part of the Sunway group for some 22 years and previously held numerous roles including chief operating officer for property development, China, and managing director for PDD – international.

He, together with Sarena, was appointed joint managing director of PDD for Malaysia and Singapore in May 2013 to assist in strengthening the property development team. Sarena was then also appointed managing director of strategy and corporate development.

Sarena has been with the group since 1995, starting in the corporate finance and group internal audit divisions.

In 2006, she became the sales and marketing general manager in PDD before becoming the director of strategy and corporate development in 2009. She later assumed the position as the executive director of strategy and corporate development in August 2011.

Sarena holds directorships in SunREIT Capital Bhd, SunREIT Unrated Bond Bhd and Sunway Lagoon Club Bhd.

She has 577,274 ordinary shares of RM1 each and 97,058 warrants in Sunway Bhd. Under Sunway’s employees share option scheme (Esos), she currently has 1,600,000 options out of which 800,000 options have been vested to her. She is also deemed interested in 972,368,099 ordinary shares of RM1 each and 157,185,376 warrants in Sunway through Active Equity Sdn Bhd, Sungei Way Corp Sdn Bhd, spouse and parents.

“After having been in the construction and property industry for more than 30 years (eight years in the Public Works Department and 22 years in Sunway), Ong had considered pursuing a whole new experience in the education industry and a window of opportunity within SEG came through,” the company said in its filing.

He holds 106,533 ordinary shares of RM1 each in Sunway. The company said his total balance options granted and vested to him under the Sunway’s Esos 2013/2019 were 1,200,000 options and 320,000 options respectively.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Serba Dinamik denies Abu Dhabi contract is a RPT
Record net profit for Comfort Gloves
Cryptocurrencies tumble amid China crackdown on bitcoin miners
Stocks fall as hawkish Fed reverberates; Treasury yields slide
Moody’s: Chinese banks’ asset quality, capitalisation stable
Oil prices climb as Iran nuclear talks drag, summer demand aids
ESG related projects require RM45b financing in next 5 years
Iskandar Malaysia records RM7.3b investment projects completed in Jan-April
Axiata, Telenor, Digi sign agreements to merge Malaysian mobile ops
MAHB submits revamp plan for Subang airport to govt

Stories You'll Enjoy


Vouchers