PETALING JAYA: In less than four months as the CEO of Armed Forces Fund Board (LTAT), Datuk Seri Amrin Awaluddin would be leaving the fund to helm Lembaga Tabung Haji (TH).
In a statement, TH said Amrin has been appointed as its new group managing director and chief executive officer effective May 6, 2021.
Sources said that Amrin will be stepping down from his position in LTAT to join TH.
He will be succeeding Datuk Nik Mohd Hasyudeen Yusoff, who has been with the fund since Sept 2019.
“Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr. Zulkifli Mohamad Al-Bakri has agreed with the appointment of Amrin as the new group MD and CEO,” TH said in a statement on Wednesday.
It is worth noting that Amrin is currently the CEO of LTAT, a position that he took over in January this year from Nik Amlizan Mohamed, who had on Nov 2 last year assumed the position of CEO of Kumpulan Wang Persaraan (KWAP).
Prior to LTAT, Amrin was the CEO of Boustead Group Bhd, a 59.43%- owned subsidiary of LTAT.
It was said that his first task is to overlook the privatisation of Boustead by LTAT. However, in February, LTAT shelved the privatisation plan.
In May last year, LTAT announced its intention to privatise Boustead as part of its portfolio rebalancing, at an indicative offer price of 80 sen per share, which values Boustead at RM1.62bil.
Amrin has more than 30 years of experience in the corporate sector and began his career in banking before holding several senior positions in companies such as Renong Bhd, Malaysian Resources Corporation Bhd and Putera Capital Bhd.
TH chairman Tan Sri Md Nor Yusof welcomed the appointment of Amrin and expressed his confidence that Amrin’s vast experience will help bring TH to greater heights.
TH currently has about nine million depositors with a total fund of almost RM80bil.
Md Nor also expressed his deep appreciation and gratitude to Nik Mohd Hasyudeen for his commitment and effort in furthering TH as an Islamic institution respected for its performance and governance.