Ex-Magna Prima MD Lee Kian Seng to helm Jiankun

KUALA LUMPUR: Jiankun International Bhd, a relatively young and loss-making property player, has appointed Magna Prima Bhd’s former group managing director (MD) Datuk Lee Kian Seng as its MD.

The company, which only made an annual profit once in the last nine years (in 2013), told Bursa Malaysia that the appointment was effective Nov 1.

Lee, 55, was group MD at Magna Prima for three years (March 2006 to April 2009) and helped turn around the property developer from a loss of RM10.43mil in 2005 to a small net profit of RM118,471 in 2006.

Following his resignation in  mid-2009, Lee set up his own company, Wangsa Group.

At Jiankun, Lee will be working with former Deputy Finance Minister Datuk Donald Lim Siang Chai, who is the company’s executive chairman and substantial shareholder. 

Jiankun has been involved in property development for only about a decade.