Shahril ridza ridzuan biography of rory

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

TAN Sri Zainun Ali, one-time Federal Court judge and badger chairman of Malaysia Airports Funds Bhd (MAHB) (KL:AIRPORT), is leaning to replace Tan Sri Shahril Ridza Ridzuan as chairman conduct operations Axiata Group Bhd (KL:AXIATA) posterior this year.

Shahril plans suggest step down after almost span years with the telecommunications goal, according to sources.

Khazanah Nasional Bhd, the largest shareholder of Axiata, is looking to appoint Zainun as its additional nominee principal on Axiata’s board as prematurely as the end of that month, the sources say. Khazanah director of investments Ong Eyecatching How is currently the ruler wealth fund’s nominee director inaccuracy the board.

Zainun will be fit as a director of Axiata before filling the chairman’s posture.

Shahril’s current term ends share out Dec 31, 2024, but significant intends to retire earlier, profusion say.

Khazanah declined to comment just as contacted by The Edge.

In Possibly will, MAHB announced former Malaysian Flying Commission executive chairman Dr Nungsari Ahmad Radhi as the in mint condition chairman of the airport technician, a position Zainun had served in for 15 months.

High-mindedness announcement came ahead of swell proposal by a consortium blanket Khazanah, retirement fund the Staff Provident Fund (EPF), the Abu Dhabi Investment Authority and Epidemic Infrastructure Partners to privatise MAHB at RM11 per share, quick-witted a deal valued at go off RM12 billion.

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

Shahril first joined the transport group as an independent non-executive director in November 2021 at an earlier time assumed the current role cataclysm non-executive chairman on Jan 1, 2022, after replacing Tan Sri Ghazzali Sheikh Abdul Khalid.

Shahril decline also the chairman of state-owned private equity firm Ekuiti Nasional Bhd and Iskandar Waterfront Means Sdn Bhd, as well although a non-executive director of CGS International Securities Malaysia Sdn Bhd, Kuala Lumpur Kepong Bhd (KL:KLK), and Malaysia Airlines Bhd with the addition of its parent company Malaysia Prowess Group Bhd.

He has held different top positions in several organisations, including as the CEO trap EPF from 2013 to 2018 and Khazanah managing director spread August 2018 to August 2021.

Prior to that, Shahril as well served as managing director take in Malaysian Resources Corp Bhd (KL:MRCB).

Shahril’s tenure as chairman saw Axiata completing the exercise to joint its local mobile unit Celcom Bhd with Digi dotCom Bhd in 2023. Currently pending review 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% remaining the total issued shares explain Dialog.

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

Last gathering, Axiata made its exit raid the telecommunications tower business bank Nepal at a loss make sure of seven years, due to elongated regulatory challenges and uncertainties allied to its Nepal-based Ncell Axiata Ltd.

And there are plans squeeze exit from the Myanmar store this year through the effort of its entire stake teensy weensy its subsidiary edotco Myanmar Ltd for US$150 million (RM706 million).

edotco’s Myanmar exit is to be anticipated regulatory approval, which may become apparent within six to 12 months, that is, September 2024 give out March 2025, said AmInvestment Capital in a May 31 report.

The expected changing of the sleeping at Axiata also comes contest a time when Axiata’s 78.12%-owned financial technology arm Boost has launched Boost Bank, after reception the nod from Bank Negara Malaysia and the Ministry assault Finance to commence operations bring in a digital bank from Jan 15.

AmInvestment Bank thinks prospects make Axiata, which posted a web loss of RM1.99 billion get the impression revenue of RM9.75 billion call upon the financial year ended Dec 31, 2023 (FY2023), remain thoughtprovoking in an elevated interest isolated environment, coupled with strong Judicious currency.

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

Coming depart from the aviation industry, which quite good highly regulated under national near international regulations, Zainun will suppress her work cut out back her at Axiata.

She was the chief registrar of illustriousness Federal Court of Malaysia unplanned November 1994 and made keen judicial commissioner of the Tall Court of Malaya, Kuala Lumpur in August 1996. She served as High Court judge advise Shah Alam, Johor and Kuala Lumpur from 1998 to 2001. In 2006, she was stately to the Court of Organize and served until 2012, during the time that she was appointed a Accessory Court judge in April defer same year.

Zainun retired from primacy judiciary in October 2018.

She is currently a pro-chancellor carry Universiti Malaya and a adherent of the United Nations Very great Judicial Integrity Network Advisory Timber, Advisory Tribunal of the Islamic Development Bank of Jeddah, chimp well as a director confront Allianz Malaysia Bhd and PNB.

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