Thursday, September 22, 2011

Mudajaya MD resigns effective Sept 30

KUALA LUMPUR: MUDAJAYA GROUP BHD []'s managing director Ng Ying Loong tendered his resignation citing family commitments as the main reason but he would continue to be an adviser to the board.

Mudajaya said the resignation will take effect on Sept 30. His role will be taken over by the current joint managing director Anto Joseph, a veteran with the company for the past 18 years.

It said Ng would continue playing a key role in the group as advisor to the board.

'We are also confident that Anto who has co-helmed the group as joint managing director since April 2011 is the ideal leader to add value to the business and opportunities of Mudajaya,' it said.

Ng said: 'This change is a good move for the Group and it is with great faith that I pass on my responsibilities to Anto who will undoubtedly embrace this role with great ease and propel us forward in meeting our financial targets.'

He said Mudajaya's current order book was RM4.8 billion which he described as 'clearly a strong figure and coupled with our stable management and the prospect of the Indian power project providing steady quality earnings once it is completed, indeed the Group is in a solid position with great opportunities ahead'.

Anto, 59, is a professional engineer who has been with the Group since 1993 holding various posts including executive director since 1996.

He holds a Bachelor of TECHNOLOGY [], Civil (First Class) from the Indian Institute of Technology and is a member of the Board of Engineers, Malaysia and Chartered Engineer, UK.

The board also said the chairman Asgari Mohd Fuad Stephens would pass the baton to Datuk Yusli Mohamed Yusoff. However, Asgari will remain as a member of the board.

Yusli, 52, helmed Bursa Malaysia for seven years, he served as chief executive at CIMB Securities and held senior positions with METACORP BHD [], Shapadu Corporation and Renong Bhd.


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