Changes at the helm of Hextar Technologies Solutions

Ong is the major shareholder of the company credited with growing Hextar group, which now holds substantial stakes in nine listed companies with a combined market capitalisation of over RM8bil

KUALA LUMPUR: Hextar Technologies Solutions Bhd has appointed Tan Sri Muhammad Ibrahim as its new independent non-executive chairman and Datuk Ong Choo Meng as group CEO and executive director.

Muhammad, who was the eighth governor of Bank Negara, was appointed to the role following the resignation of Datuk Iskandar Sarudin as independent non-executive chairman.

"Datuk Eddie approached me with his business proposition and asked for my support and guidance, I felt that the idea and concept he espoused are forward looking and practical, so I agreed to take on the role and be part of something special,” he said in a statement.

Ong is the major shareholder of the company credited with growing Hextar group, which now holds substantial stakes in nine listed companies with a combined market capitalisation of over RM8bil.

He was previously the executive director of Hextar Global Bhd as well as the non-independent non-executive director of Hextar Industries Bhd and Hextar Healthcare Bhd (formerly known as Rubberex Corp (M) Bhd) respectively.

He recently relinquished his directorships in these companies.

Meanwhile, Choo Joon Keong has been appointed group deputy CEO and executive director in the company.

Choo is a career banker and last held the position of CEO for the Malaysian subsidiary of a Thailand-based regional bank.

As at the midday break, shares in Hextar Technologies were trading up RM1.70 or 9.96% to RM18.76 on the back of 288,700 shares exchanging hands.