KUALA LUMPUR: Asteel Group Bhd
has appointed Gambit Group chief executive officer Datuk Clifford Hii Toh Leong as executive deputy chairman following Hii Capital Holdings Sdn Bhd’s acquisition of a controlling 53.08% stake in the company.
In a statement, Asteel said the appointment follows the completion of Hii Capital’s unconditional mandatory takeover offer on Oct 5.
In a statement, Asteel said Hii will take on an active executive role as the group looks to incorporate technology and digitalisation into its existing operations.
Hii said the group would focus on building on Asteel’s existing operations while identifying new growth opportunities.
“Technology and innovation will be increasingly important to how businesses operate and compete.
“We see opportunities to explore how digitalisation, technology and stronger business processes can complement Asteel’s existing capabilities and support its development over the longer term,” he said.
Following the takeover, Asteel also refreshed its board, with former Inspector-General of Police Tan Sri Razarudin Husain appointed independent non-executive chairman.
Group managing director Datuk Seri Victor Hii Lu Thian remains in his position, while former chairman Tan Sri Dr Soh Thian Lai has been redesignated as executive director.
Datuk Dr Michael Lor Chee Leng and Esther Teh Oun Pheng were appointed independent non-executive directors.
The other independent non-executive directors are Datin Josephine John and Wong Siew Si.
