Boustead appoints former Telekom boss Shazalli Ramly as new Group MD

KUALA LUMPUR: Boustead Holdings Bhd has appointed Datuk Sri Mohammed Shazalli Ramly, the former boss at Telekom Malaysia Bhd, as its group managing director effective Dec 1.

He will replace Datuk Sri Amrin Awaluddin who left the group on Nov 15 following the expiry of his contract.

Shazalli, 59, is making a comeback to the corporate scene after he resigned from Telekom in June, 2018 following the outcome of the general election.

“We are confident that with Datuk Sri Mohammed Shazalli’s notable professional experience and proven track record in corporate transformation and performance management, his leadership for the Group will be able to steer Boustead to new heights," Boustead's chairman Datuk Seri Mohamed Khaled Nordin said in a statement today.

Shazalli had previously served as the CEO of Celcom Axiata Bhd from 2005 to 2016, Prior to that, he was the CEO of NTV7.

"Datuk Sri Mohammed Shazalli joins our ranks at an opportune time, with our transformation initiatives going into full swing. His renowned expertise and sharp business acumen during our transformation journey certainly augurs well for the Group’s business prospects,” Mohamed Khaled said.

Earlier today, Boustead announced that it had received a press notice from Lembaga Tabung Angkatan Tentera (LTAT) informing that there has been no material development in respect of the proposed takeover.

The Securities Commission, in October, granted a further extension of four months to LTAT to announce its firm intention in relation to the proposed privatisation.

LTAT had first proposed to takeover Boustead in May. It has until Feb 2 to firm up its offer.

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