UEM Sunrise appoints Hisham Hamdan as chairman

KUALA LUMPUR: UEM Sunrise Bhd has announced some boardroom changes effective July 1, including the appointment of Khazanah Nasional Bhd executive director of investments Datuk Hisham Hamdan (pic) as its chairman.

Hisham succeeds Datuk Noorazman Abd Aziz, who stepped down due to "planned retirement", the property developer said in filings with Bursa Malaysia on Tuesday (June 20).

Meanwhile, Khazanah senior vice president of investments Reagan Chan Chung Cheng has been made non-independent director.

The company said Effizal Faiz Zulkifly resigned as non-independent director under "a process of rotation based on the directive of Khazanah, the substantial shareholder of UEM Sunrise by virtue of being the holding company of UEM Group Bhd."

In a press statement, UEM Sunrise said Hisham has been Khazanah executive director of investments since April 2011 and, as the sovereign wealth fund's head of public markets, is entrusted with a mandate to invest in more than 10 countries worldwide.

"Formerly chairman of the board of UDA Holdings Bhd and BBCC Development Sdn Bhd, the developer of Bukit Bintang City Centre, Hisham has also previously served on the board of Iskandar Investment Bhd, Sunway Iskandar Sdn Bhd and Southern Marina Development Sdn Bhd," the developer said.

Meanwhile, Chan oversees Khazanah's real assets and property portfolio, having previously covered the Iskandar Malaysia, and technology portfolios, among others.

On Noorazman, UEM Sunrise said he has been instrumental in spearheading the group's three-phase strategic turnaround plan comprising Triage, Stabilise and Sustain, among other significant targets and sustainable initiatives.

"He led UEM Sunrise during the economic uncertainty wrought by the Covid-19 crisis, in which he aided the group in returning to the black for financial year ended 2022," it added. – Bernama