KUALA LUMPUR, Jasa Kita Bhd a power tools and industrial equipment maker, has appointed Datuk Yasmin Mahmood as executive chairman and her brother Datuk Seri Iskandar Mizal Mahmood as group managing director, marking the start of a new leadership era for the company.
The appointments follow a change in controlling shareholders after Kintan Prima Sdn Bhd — an investment firm owned by Yasmin, her husband Abd Azis Mohamad, and Iskandar — acquired a 40.33% stake in Jasa Kita in September for RM68.9 million or 38 sen per share. The stake was purchased from former chairman Tan Sri Robert Tan Hua Choon, known as the “Casio King”, and his son Datuk Seri Tan Han Chuan.
Datuk Yasmin Mahmood (right) and Datuk Seri Iskandar Mizal Mahmood.
Following a subsequent mandatory takeover offer at the same price, Kintan Prima now holds a 77.93% stake in the Main Market-listed company. Robert and his children, who previously served on the board, resigned on Oct 25.
Yasmin, the former CEO of Malaysia Digital Economy Corporation (MDEC) from 2014 to 2018, currently serves on the boards of MBSB Bhd, Citaglobal Bhd, and Malaysian Industrial Development Finance Bhd (MIDF). Iskandar, a corporate veteran with over 35 years of experience, has held key roles at Malaysia Airports Holdings Bhd, Media Prima Bhd, and Pos Malaysia Bhd.
In a statement, Jasa Kita said the leadership transition marks the beginning of a “new phase” focused on strengthening the group’s core business, diversifying into strategic areas, and creating long-term value for shareholders.
“This new chapter for Jasa Kita is about evolving with the times to deliver sustainable growth for all our stakeholders,” Yasmin said. “We are building on Jasa Kita’s strong, debt-free foundation to explore new growth opportunities and ensure the company remains future-ready.”
Iskandar added that the group will stay “laser-focused on sustainable expansion, financial discipline, and unlocking shareholder value.”
The company also said the entitlement date for its planned special dividend of 12 sen per share, totaling RM53.95 million, will be announced soon. The dividend follows the sale of four parcels of industrial land in Gombak to Logik Damai Sdn Bhd, a company linked to Robert Tan, for RM38 million — a deal that was part of the share sale conditions.
Jasa Kita’s shares closed 1.5 sen or 4.11% higher at 38 sen on Wednesday, valuing the group at RM170.83 million. Year-to-date, the counter has climbed 21 sen.
