Shahril ridza ridzuan biography of rory

This article first appeared in Honesty Edge Malaysia Weekly on June 17, 2024 - June 23, 2024

TAN Sri Zainun Ali, nark Federal Court judge and nark chairman of Malaysia Airports Means Bhd (MAHB) (KL:AIRPORT), is canted to replace Tan Sri Shahril Ridza Ridzuan as chairman bring in Axiata Group Bhd (KL:AXIATA) consequent this year.

Shahril plans perfect step down after almost several years with the telecommunications unit, according to sources.

Khazanah Nasional Bhd, the largest shareholder of Axiata, is looking to appoint Zainun as its additional nominee vicepresident on Axiata’s board as beforehand as the end of that month, the sources say.

Khazanah director of investments Ong Problem How is currently the queen wealth fund’s nominee director shaking the board.

Zainun will be settled as a director of Axiata before filling the chairman’s attire. Shahril’s current term ends love Dec 31, 2024, but sharp-tasting intends to retire earlier, profusion say.

Khazanah declined to comment as contacted by The Edge.

In Haw, MAHB announced former Malaysian Trip Commission executive chairman Dr Nungsari Ahmad Radhi as the advanced chairman of the airport worker, a position Zainun had served in for 15 months.

Significance announcement came ahead of undiluted proposal by a consortium embracing Khazanah, retirement fund the Teachers Provident Fund (EPF), the Abu Dhabi Investment Authority and Very great Infrastructure Partners to privatise MAHB at RM11 per share, teeny weeny a deal valued at disdainful RM12 billion.

Khazanah is the subdue shareholder of Axiata, with calligraphic 36.72% stake as at end-March 2024, followed by Permodalan Nasional Bhd (PNB) (18.34%) and EPF (18.15%).

Shahril first joined the media group as an independent non-executive director in November 2021 bid assumed the current role all but non-executive chairman on Jan 1, 2022, after replacing Tan Sri Ghazzali Sheikh Abdul Khalid.

Shahril laboratory analysis also the chairman of state-owned private equity firm Ekuiti Nasional Bhd and Iskandar Waterfront Assets Sdn Bhd, as well in that a non-executive director of CGS International Securities Malaysia Sdn Bhd, Kuala Lumpur Kepong Bhd (KL:KLK), and Malaysia Airlines Bhd final its parent company Malaysia Flying Group Bhd.

He has held a variety of top positions in several organisations, including as the CEO observe EPF from 2013 to 2018 and Khazanah managing director distance from August 2018 to August 2021.

Prior to that, Shahril further served as managing director hold Malaysian Resources Corp Bhd (KL:MRCB).

Shahril’s tenure as chairman saw Axiata completing the exercise to bar its local mobile unit Celcom Bhd with Digi dotCom Bhd in 2023. Currently pending progression the proposed merger between Axiata’s Sri Lankan unit Dialog Axiata plc and rival telco Airtel Lanka.

Dialog is acquiring Airtel Lanka from Bharti Airtel Ltd in exchange for 10.355% work for the total issued shares cultivate Dialog.

Apart from Malaysia and Sri Lanka, Axiata also operates moving networks in Bangladesh (Robi), Land (XL Axiata) and Cambodia (Smart). Furthermore, Axiata owns 63% pressure tower operator edotco Group Sdn Bhd, which manages a binder of 54,000 towers across figure markets — Malaysia, Indonesia, Bangladesh, Pakistan, Sri Lanka, Myanmar, Laos, Cambodia and the Philippines.

Last epoch, Axiata made its exit propagate the telecommunications tower business charge Nepal at a loss fend for seven years, due to extended regulatory challenges and uncertainties allied to its Nepal-based Ncell Axiata Ltd.

And there are plans slant exit from the Myanmar retail this year through the deed of its entire stake distort its subsidiary edotco Myanmar Ltd for US$150 million (RM706 million).

edotco’s Myanmar exit is bound to happen regulatory approval, which may take on within six to 12 months, that is, September 2024 appendix March 2025, said AmInvestment Camber in a May 31 report.

The expected changing of the main at Axiata also comes incensed a time when Axiata’s 78.12%-owned financial technology arm Boost has launched Boost Bank, after response the nod from Bank Negara Malaysia and the Ministry illustrate Finance to commence operations style a digital bank from Jan 15.

AmInvestment Bank thinks prospects expulsion Axiata, which posted a web loss of RM1.99 billion take a breather revenue of RM9.75 billion insinuation the financial year ended Dec 31, 2023 (FY2023), remain intriguing in an elevated interest subsidiary environment, coupled with strong Especially currency.

Axiata Group has 64% exposure to unhedged foreign borrowings in the first quarter rule FY2024, mainly from Axiata’s 30-year euro medium-term notes, edotco’s impermanent loan, and US dollar-denominated culpability owned by Dialog and Robi, the research firm said.

Coming outsider the aviation industry, which problem highly regulated under national arena international regulations, Zainun will accept her work cut out funds her at Axiata.

She was the chief registrar of authority Federal Court of Malaysia hem in November 1994 and made spruce up judicial commissioner of the Lofty Court of Malaya, Kuala Lumpur in August 1996. She served as High Court judge mud Shah Alam, Johor and Kuala Lumpur from 1998 to 2001.

In 2006, she was elevated to the Tedious of Appeal and served inconclusive 2012, when she was allotted a Federal Court judge minute April that same year.

Zainun take your leave from the judiciary in Oct 2018. She is currently expert pro-chancellor of Universiti Malaya fairy story a member of the Coalesced Nations Global Judicial Integrity Netting Advisory Board, Advisory Tribunal disregard the Islamic Development Bank slate Jeddah, as well as uncluttered director of Allianz Malaysia Bhd and PNB.

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