KUCHING: Sarawak Consolidated Industries Bhd
(SCIB) has made a major shake-up to its boardroom, with Abang Abdillah Izzarim Tan Sri Abang Abdul Rahman Zohari taking over the helm as its new executive chairman. There were also the appointments of four new directors.
The 45-year-old, low-profile businessman is the son of Sarawak Premier Tan Sri Abang Johari Tun Openg.
Abang Abdillah, a qualified professional commercial pilot, is currently also the chairman and major shareholder in PP Telecom. He is also a director of Cempaka Helicopter Corp Sdn Bhd, SCIB said in a filing with Bursa Malaysia.
According to SCIB, Abang Abdillah’s experience, exposure and roles in many different industries at a young age have honed his skills in managing several companies across Asean countries and China.
With Abang Abdillah’s appointment, SCIB’s independent non-executive chairman Shamsul Anuar Ahmad Ibrahim has been redesignated as an independent and non-executive director.
Shamsul took over from Datuk Dr Mohd Abdul Karim Abdullah following the latter’s redesignation as a non-executive director from chairman on Oct 25, 2022. Abdul Karim is also Serba Dinamik Holdings Bhd chairman.
SCIB, whose core business is manufacturing and sales of precast concrete products and industrial building system (IBS), has appointed Chin Choon Wei, 38, as a new executive director. Chin is also a director of APB Resources Bhd.
Three other new independent and non-executive directors, who were elected at SCIB’s EGM on June 28, are Kang Wei Luen, Liaw Way Gian and Dang Nguk Ling.
Kang and Liaw are also directors in APB Resources and Artroniq Bhd, while Dang is a director in APB Resources.
Shareholders at the EGM, which was convened on the request of eight shareholders who collectively hold more than 10% of SCIB’s total issued share capital, however, rejected one of the eight resolutions on the appointment of Pakharuddin Mohd Samin as a board director.
The EGM sought shareholders’ approval to remove three independent non-executive directors – Noor Azri Azerai, Mohd Shakir Shahimi and Nuriman Shaiful Annuar – who, however, all resigned two days ahead of the votes by the shareholders.
The other boardroom change announced after the EGM was the redesignation of executive director Ku Chong Hong to group managing director.
Ku succeeded Rosland Othman, who stepped down as managing director on the same day on “personal reason and other commitment.”
Rosland and Abdul Karim were in firm control of SCIB when they collectively held 55% of the company’s equity interest post-mandatory general offer (MGO) in 2019.
Abdul Karim triggered a conditional MGO for SCIB when he raised his stake to 42.8% at RM1.10 per share three months after he surprisingly emerged as the company’s new largest shareholder with the acquisition of 22.5% stake in May 2019.
Abdul Karim and Rosland had since disposed of most if not their entire stakes in the company. Based on SCIB 2022 annual report, the company’s shareholdings were fractured as there was not a single substantial shareholder with a stake of at least 5%.
