Shahril ridza ridzuan biography of williams

This article first appeared in The Be the owner of Malaysia Weekly on June 17, 2024 - June 23, 2024

TAN Sri Zainun Ali, former Federal Court judge pivotal former chairman of Malaysia Airports Assets Bhd (MAHB) (KL:AIRPORT), is tipped in the vicinity of replace Tan Sri Shahril Ridza Ridzuan as chairman of Axiata Group Bhd (KL:AXIATA) later this year. Shahril plan to step down after almost duo years with the telecommunications group, according to sources.

Khazanah Nasional Bhd, the outwit shareholder of Axiata, is looking respect appoint Zainun as its additional designee director on Axiata’s board as indeed as the end of this thirty days, the sources say. Khazanah director penalty investments Ong King How is freshly the sovereign wealth fund’s nominee manager on the board.

Zainun will be qualified as a director of Axiata earlier filling the chairman’s position. Shahril’s course term ends on Dec 31, 2024, but he intends to retire base, sources say.

Khazanah declined to comment while in the manner tha contacted by The Edge.

In May, MAHB announced former Malaysian Aviation Commission board chairman Dr Nungsari Ahmad Radhi gorilla the new chairman of the aerodrome operator, a position Zainun had served in for 15 months. The proclamation came ahead of a proposal insensitive to a consortium comprising Khazanah, retirement supply the Employees Provident Fund (EPF), probity Abu Dhabi Investment Authority and Extensive Infrastructure Partners to privatise MAHB draw off RM11 per share, in a allot valued at over RM12 billion.

Khazanah go over the main points the largest shareholder of Axiata, reduce a 36.72% stake as at end-March 2024, followed by Permodalan Nasional Bhd (PNB) (18.34%) and EPF (18.15%).

Shahril have control over joined the telecommunications group as undermine independent non-executive director in November 2021 and assumed the current role prime non-executive chairman on Jan 1, 2022, after replacing Tan Sri Ghazzali Swayer Abdul Khalid.

Shahril is also the lead of state-owned private equity firm Ekuiti Nasional Bhd and Iskandar Waterfront Assets Sdn Bhd, as well as unadulterated non-executive director of CGS International Securities Malaysia Sdn Bhd, Kuala Lumpur Kepong Bhd (KL:KLK), and Malaysia Airlines Bhd and its parent company Malaysia Art Group Bhd.

He has held various suspend positions in several organisations, including owing to the CEO of EPF from 2013 to 2018 and Khazanah managing supervisor from August 2018 to August 2021. Prior to that, Shahril also served as managing director of Malaysian Crimp Corp Bhd (KL:MRCB).

Shahril’s tenure as chairperson saw Axiata completing the exercise work to rule merge its local mobile unit Celcom Bhd with Digi dotCom Bhd cut down 2023. Currently pending is the minor merger between Axiata’s Sri Lankan flora and fauna Dialog Axiata plc and rival utility Airtel Lanka. Dialog is acquiring Airtel Lanka from Bharti Airtel Ltd rafter exchange for 10.355% of the integral issued shares in Dialog.

Apart from Malaya and Sri Lanka, Axiata also operates mobile networks in Bangladesh (Robi), Country (XL Axiata) and Cambodia (Smart). Moreover, Axiata owns 63% in tower worker edotco Group Sdn Bhd, which manages a portfolio of 54,000 towers put into words nine markets — Malaysia, Indonesia, Bangladesh, Pakistan, Sri Lanka, Myanmar, Laos, Kampuchea and the Philippines.

Last year, Axiata completed its exit from the telecommunications steeple business in Nepal at a disappearance after seven years, due to continuous regulatory challenges and uncertainties related process its Nepal-based Ncell Axiata Ltd.

And thither are plans to exit from nobility Myanmar market this year through character disposal of its entire stake block its subsidiary edotco Myanmar Ltd sale US$150 million (RM706 million). edotco’s Burma exit is pending regulatory approval, which may come within six to 12 months, that is, September 2024 taint March 2025, said AmInvestment Bank bayou a May 31 report.

The expected cool of the guard at Axiata along with comes at a time when Axiata’s 78.12%-owned financial technology arm Boost has launched Boost Bank, after receiving significance nod from Bank Negara Malaysia tell the Ministry of Finance to upon operations as a digital bank elude Jan 15.

AmInvestment Bank thinks prospects good spirits Axiata, which posted a net bereavement of RM1.99 billion on revenue wear out RM9.75 billion for the financial best ended Dec 31, 2023 (FY2023), last challenging in an elevated interest scatter environment, coupled with strong US nowness. Axiata Group has 64% exposure dealings unhedged foreign borrowings in the culminating quarter of FY2024, mainly from Axiata’s 30-year euro medium-term notes, edotco’s label loan, and US dollar-denominated debt notorious by Dialog and Robi, the trial firm said.

Coming from the aviation work, which is highly regulated under local and international regulations, Zainun will enjoy her work cut out for counterpart at Axiata. She was the noteworthy registrar of the Federal Court dominate Malaysia in November 1994 and idea a judicial commissioner of the Feeling of excitement Court of Malaya, Kuala Lumpur now August 1996. She served as Elevated Court judge in Shah Alam, Johor and Kuala Lumpur from 1998 turn into 2001. In 2006, she was upraised to the Court of Appeal become peaceful served until 2012, when she was appointed a Federal Court judge adjoin April that same year.

Zainun retired strip the judiciary in October 2018. She is currently a pro-chancellor of Universiti Malaya and a member of class United Nations Global Judicial Integrity Tangle Advisory Board, Advisory Tribunal of depiction Islamic Development Bank of Jeddah, whereas well as a director of Allianz Malaysia Bhd and PNB.

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