Joining Nazir on board is former CIMB senior banker Tan Hong Kheng.
PLS current chairman Tan Sri Lim Kang Hoo will be redesignated as executive vice chairman. PLS is a 73% owned subsidiary of Ekovest. “These appointments are consistent with the Company’s new ambitions to grow more aggressively and transform into a major agri- food business conglomerate," Lim said in a statement today.
Nazir has recently acquired 19 million share sin PLS via a private placement exercise at 95 sen each.
"In order to strengthen my alignment with the future of PLS, in addition to taking up a recent share placement by the Company, I have also acquired an option to purchase existing warrants in PLS that, when exercised, will allow me to increase my shareholding in PLS from 4.75% currently to 9.9% based on its current share capital,” Nazir said.