PETALING JAYA: S P Setia Bhd’s president and chief executive officer (CEO) Datuk Khor Chap Jen, as well as its deputy president and chief operating officer (COO) Datuk Wong Tuck Wai, will be retiring from the company at the end of September 2021.
In preparation for a smooth transition, S P Setia said its board of directors has named Datuk Choong Kai Wai and Datuk Koe Peng Kang (pic, below) to succeed Khor and Wong respectively with effect from Oct 1, 2021.
“This decision by the board was made following a succession plan which is part of the company’s leadership talent agenda, implemented based on the robust leadership discussions within the company, ” said S P Setia in a statement yesterday.
The succession plan is positioned to sustain the leadership position of S P Setia as the leading property developer in Malaysia.
In the same statement, chairman Tan Sri Syed Anwar Jamalullail said he is confident that Choong will continue to provide great leadership in the company, given his breadth of leadership and business experience both in the domestic and international market.
Syed Anwar said Choong would build on the current foundational success of S P Setia and continue to build organisational capabilities to carry on the good momentum set by Khor.
“We certainly look forward to higher growth plans and enhanced sustainable value creation for all our shareholders with the continued strong leadership at S P Setia.”
He said: “The board of directors, management, and staff of S P Setia look forward to working closely with Choong in his new role as CEO. His international experience will add on new perspectives to growing our business beyond the Malaysian shores as we look at diversifying and expanding S P Setia into a global business player, complementing the current regional and global investments.”
Khor was appointed the acting CEO on Jan 1,2015 and he subsequently took on the CEO position on April 1,2016, with a clear mandate to reposition S P Setia to a market leadership position.
Choong has more than 30 years of experience in the property and construction industry ranging from technical to business leadership roles.
He holds a BSc (Hons) Mechanical Engineering from The City University London and is currently the executive vice-president of S P Setia. leading the Australian market.
“He joined S P Setia in May 2010 as the chief executive officer of Setia (Melbourne) Development Pty Ltd and has since grown the company’s business in Australia and positioned the brand name of Setia very strongly within the Australian property market, known for quality design and precision in on-time delivery, ” S P Setia said.
The property developer said Choong would be supported by Koe, who also has a strong and credible experience in the property and construction industry.
Koe graduated with a BSc (Hons) Civil Engineering from the University of Leeds and completed his MSc in Construction Management from the University of Birmingham.
“Koe has been in S P Setia since 1997 and has been directly involved in the development of the Eco Series for the S P Setia Group. Throughout his tenure in S P Setia, he has been rotated through leadership roles covering the scope of infrastructure, convention centres, hospitality, and premium residential township projects.
“Koe will carry on the operational excellence of S P Setia from Wong, who was appointed the acting chief operating officer on Jan 1,2015 and chief operating officer on April 1,2016.”