The Executives

Kumpulan Wang Persaraan (KWAP) has appointed Dato’ Jay Khairil Jeremy Abdullah as its new chief executive officer, effective May 20, 2026. In a statement, KWAP said Jay Khairil brings nearly 30 years of experience in banking and financial services, with expertise in financial management, governance, risk management and institutional transformation. Before joining KWAP, he served as CEO of Bank Simpanan Nasional (BSN), where he led initiatives in financial performance, digital banking, operational resilience and financial inclusion. He had also previously held the roles of chief financial officer and chief internal auditor at BSN. Prior to that, he held senior positions at CIMB Group, Bank of Tokyo-Mitsubishi UFJ Malaysia and Bank Negara Malaysia, as well as earlier roles at Hong Leong Bank and AmMerchant Bank. KWAP said Jay Khairil will lead the organisation’s strategic direction and operations while strengthening its mandate through disciplined investment, governance and long-term stewardship.

CIMB Group Holdings Bhd has appointed outgoing Standard Chartered Malaysia CEO Mak Joon Nien as CEO of its growth markets and CIMB Singapore, subject to regulatory approval. In his new role, Mak will also oversee CIMB Thailand and CIMB Cambodia, focusing on driving regional growth, cross-border business and wealth opportunities. Mak is set to step down as Standard Chartered Malaysia CEO on May 8. He will also join CIMB’s group executive committee. He replaces Victor Lee Meng Teck, who resigned from CIMB Singapore in September last year. CIMB group CEO Novan Amirudin said Mak’s experience and regional expertise will help strengthen the bank’s ASEAN strategy and accelerate growth in cross-border banking and wealth management. Mak has nearly 30 years of banking experience. He joined Standard Chartered in 1997 and became its first Malaysian CEO in 2022.

Datuk Mohamad Idham Nawawi, former CEO of CelcomDigi Bhd, has been appointed as an independent non-executive director of RHB Bank Bhd, effective immediately. In a Bursa Malaysia filing on Thursday, RHB Bank said the appointment takes effect right away. Idham previously served as CEO of CelcomDigi from December 2022 to August 2025, and was later an adviser to the board from September to November 2025. Before the CelcomDigi merger, he was CEO of Celcom Axiata Bhd from 2018 to 2022. RHB Bank shares closed 0.73% higher at RM8.33 on Thursday, valuing the group at RM36.33 billion.

PETRONAS Dagangan Bhd has appointed PETRONAS executive vice president Datuk Sazali Hamzah as its new chairman, effective immediately. He succeeds Datuk Anuar Ahmad, who retired on April 27, according to a Bursa Malaysia filing by the company. Sazali, 60, is currently the chief executive officer of PETRONAS’ downstream business and also serves as chairman of PETRONAS Chemicals Group Bhd. He previously led PETRONAS Chemicals Group as managing director and CEO from 2014 to 2021, and had also headed PETRONAS Penapisan (Melaka) Sdn Bhd. Throughout his career at PETRONAS, Sazali has held several senior leadership roles across the refinery, petrochemical and project management divisions. PETRONAS Dagangan shares rose 1% to RM20.76 during Friday’s noon break, valuing the company at RM20.6 billion.

Standard Chartered Malaysia said chief executive officer Mak Joon Nien will step down on May 8, after almost four years in the role. Mak, who has been with Standard Chartered for nearly 30 years, is leaving to pursue an external opportunity. He will also step down from the boards of Standard Chartered Malaysia Bhd and Standard Chartered Saadiq Bhd, as well as other related entities. Standard Chartered Malaysia – Chief Executive Officer, Mak Joon Nien. The bank has appointed its chief financial officer, Mushahid Syed, as interim CEO and head of coverage for Malaysia. He will lead the bank’s local operations while continuing in his current role. Standard Chartered said a permanent successor will be announced later. Mak joined the bank in 1997 as a graduate trainee and later spent 15 years in a regional role in Singapore before returning to Malaysia, where he became the bank’s first Malaysian chief executive. The bank said he helped raise the franchise’s profile, strengthen client and stakeholder relationships, and align the business with its global strategy. Mushahid, who joined Standard Chartered in 2013, has more than 20 years of leadership experience and has been part of the Malaysia management team since becoming CFO in 2024.

Bursa Malaysia Bhd has appointed Azizan Abdul Aziz as director of its Islamic capital market (ICM), effective Friday, as part of its ongoing efforts to strengthen its position in the global Islamic finance space. In a statement, the exchange operator said Azizan will take on the additional responsibility alongside his current role as chief financial officer, reflecting a dual mandate that combines financial leadership with strategic oversight of the Islamic capital market segment. Bursa Malaysia chief executive officer Datuk Fad’l Mohamed said the appointment underscores the organisation’s continued commitment to advancing its Islamic capital market offering, which remains a key pillar of Malaysia’s broader capital market ecosystem. “Azizan’s experience, financial expertise and deep institutional knowledge position him well to guide our Islamic market priorities, while continuing to ensure strong financial stewardship in his capacity as CFO,” he said. Malaysia’s Islamic capital market has continued to show steady growth in recent years, expanding from RM2.2 trillion in 2020 to RM2.7 trillion as at end-2025. The segment is supported by strong contributions from both shariah-compliant equities and sukuk, which account for RM1.3 trillion and RM1.4 trillion respectively. The depth of the market is further reflected in the high proportion of shariah-compliant listings on Bursa Malaysia, with more than 80% of public-listed companies classified as shariah-compliant, reinforcing the country’s leadership in Islamic finance globally. In his new role, Azizan will be responsible for providing strategic direction and oversight across Bursa Malaysia’s Islamic capital market initiatives. This includes working closely with internal teams, regulators and market participants to further develop the ecosystem, enhance product offerings, and drive greater participation in shariah-compliant investments. He brings more than two decades of experience in finance, accounting, corporate finance and advisory, positioning him to play a key role in shaping the next phase of growth for Malaysia’s Islamic capital market.

Persatuan Insurans Am Malaysia (PIAM) has re-elected Ng Kok Kheng as its chairman for the 2026–2028 term, effective April 29, 2026. In a statement, PIAM said Ng will continue to lead the board of directors as the association represents the general insurance industry amid an evolving operating landscape. The focus moving forward includes capturing growth opportunities while addressing emerging risks and technological changes driven by regulatory reforms, as well as rising global economic and climate volatility. Commenting on his re-election, Ng said PIAM and its 23 member companies remain committed to strengthening the industry’s role in supporting Malaysia’s economy and consumers. “In line with our vision to be the trusted voice of the general insurance industry, PIAM and its 23 members remain committed to fostering a sustainable ecosystem and ensuring Malaysians continue to benefit from a robust and resilient sector that provides comprehensive solutions for individuals, businesses, and communities,” he said. Ng, who is an independent director, brings more than 30 years of experience in the insurance industry. Meanwhile, PIAM also announced the re-election of Antony Lee, Chief Executive Officer of AIG Malaysia Insurance Bhd, as its deputy chairman for the same term. The association said the leadership continuity is expected to support ongoing industry initiatives, including efforts to enhance market resilience, strengthen consumer protection, and promote sustainable growth within Malaysia’s general insurance sector.

Prasarana Malaysia Bhd CEO Amir Hamdan to step down after almost eight years. Public transport operator Prasarana Malaysia Bhd has confirmed that Group President and Chief Executive Officer Amir Hamdan will be ending his tenure after serving the organisation for nearly eight years. In a statement today, Prasarana said Amir’s decision to step down is for personal reasons and in line with his future plans. The company said further updates on leadership continuity and succession arrangements will be announced through its official communication channels in due course. “Prasarana would like to express its highest appreciation for his contributions and leadership throughout his tenure, and wishes him the best in his future endeavour,” it said. Throughout his time with the group, Amir played a key role in driving transformation initiatives and strengthening Prasarana’s operational performance, with a focus on improving public transport services and overall service delivery for commuters.

 Aaron Chong (Director – COO of Cloud Space). 1. Many organisations are still stuck at the pilot stage when it comes to AI. What are you seeing on the ground? We are seeing a clear shift from experimentation to execution across the market. Over the past year, conversations have moved from “what AI can do” to “how quickly it can be deployed to deliver measurable outcomes”. Based on our observations across engagements, approximately 70–80% of organisations are still in the pilot or early implementation stage, which highlights the gap between ambition and execution. The challenge now is less about access to technology and more about integration. Many organisations have the tools, but aligning them with business processes and ensuring adoption across teams remains a key hurdle. This highlights that many businesses have their AI “engine” started (pilot or early implementation stage), but the AI “gears” are not yet fully engaged or integrated with their respective business processes (advanced stage of AI integration). 2. Where are companies seeing the most immediate value from cloud and AI adoption? The most immediate value is typically seen in operational efficiency. This includes areas such as automating repetitive processes, improving data accessibility, and enabling faster decision-making. In our experience, organisations can achieve up to: • 40% improvement in overall work efficiency or productivity across sectors• 30% reduction in production time, particularly in the E&E manufacturing sector• 80% increase in test execution speed, with significant impact in software development or when AI is effectively embedded into workflows (Based on reports from IDC, PwC, and selected ASEAN market studies) Cybersecurity and customer experience are also seeing strong returns, particularly where AI enhances accuracy and response speed in real-time environments. 3. Cloud Space has worked with a range of leading enterprises across different sectors. What do these engagements reveal about enterprise priorities today? Enterprises are becoming significantly more outcome-driven. There is less interest in adopting technology for its own sake, and more focus on how it translates into measurable improvements. This includes areas such as cost optimisation, scalability, and operational resilience. Organisations are looking for solutions that support long-term growth rather than short-term gains. As a result, the role of implementation partners is evolving. Clients expect partners not only to deploy solutions, but also to guide them through the transformation process and ensure successful adoption. 4. How are enterprises approaching cybersecurity today? Cybersecurity has moved firmly into the boardroom. It is no longer viewed as a purely technical function, but as a critical component of overall business resilience. Organisations are increasingly adopting AI-driven approaches to enhance threat detection and response. This includes a shift towards more proactive and automated security operations. The focus is now on transforming Security Operations Centres to improve response times and operational efficiency. This reflects a broader shift towards integrated, intelligence-led security frameworks. Cloud Space Named 2026 Google Cloud Partner of the Year for Malaysia (L-R: Benjamin Kok, Head of Data & Projects; Kishan Singh, Head of Sales). 5. Cloud Space was named the 2026 Google Cloud Partner of the Year for Malaysia. How does that recognition translate into business impact? The recognition reinforces confidence among clients, particularly for large-scale and high-stakes projects. It signals that we have the capability to deliver consistently across different industries. It also strengthens our position within the broader ecosystem, including our collaboration with Google Cloud. This enables us to access new technologies earlier and bring them to market more effectively, while supporting our customers in adopting and embedding them into their business processes. At a broader level, it highlights the growing capability of Malaysian firms within the global cloud and AI landscape, which is an encouraging development for the industry. 6. Your team has grown from four to over 50 people in a short period. How do you maintain quality while scaling? Maintaining quality starts with building a strong technical foundation. We invest heavily in developing expertise across cloud, data, security, and AI to ensure consistent delivery for our customers. We are also deliberate in the type of projects we take on. Rather than scaling purely for volume, we focus on engagements where we can deliver meaningful impact. This approach, anchored by our highly experienced talent and specialised technical expertise, allows us to grow sustainably while maintaining the highest standards of delivery. In a field where execution quality directly influences client outcomes, our focus remains on ensuring that every deployment translates into tangible, positive business impact. 7. How do you see the competitive landscape evolving in the next few years? The market is likely to become more specialised. As technologies mature, clients will increasingly look for partners with deep expertise rather than generalist capabilities. This is particularly true in areas such as AI, data, and cybersecurity, where implementation requires a high level of technical depth. At the same time, competition will intensify as more players enter the market. Differentiation will depend on the ability to deliver consistent, measurable outcomes. 8. What challenges do organisations face when scaling AI initiatives? One of the main challenges is integration. Many organisations operate with legacy systems, which makes it more complex to implement new technologies. There is also a need to align AI initiatives with business objectives. Without clear direction, projects can become fragmented and fail to deliver meaningful outcomes. Additionally, change management plays a critical role. Ensuring that teams understand and adopt new technologies is essential for long-term success. 9. What role do partners like Cloud Space play beyond implementation? Are you increasingly becoming strategic advisors? The role of partners is evolving beyond implementation into a more strategic function. Organisations are seeking guidance not only on how to deploy technology, but also on how to align it with broader business objectives. This includes areas such as identifying the right use cases, prioritising investments, and ensuring that solutions are scalable over time. In many cases, the challenge is not the technology itself, but how it integrates into existing operational processes and aligns with the organisation’s long-term strategy. As a result, partners

TAS Offshore Bhd has announced that deputy managing director Lau Choo Chin will succeed his father, founder Datuk Lau Nai Hoh, as managing director following his resignation effective April 30 due to health reasons. In a Bursa Malaysia filing, the group said Lau Nai Hoh, 75, will step down after serving as managing director since 2008. He remains the company’s largest shareholder with a 31.68% direct stake, although he has recently transferred part of his shares to his daughter. Lau Choo Chin currently serves as deputy managing director and has more than 28 years of experience in shipbuilding and project management, particularly in the oil and gas sector. He also holds a 7.84% direct stake in the company, while his brother, executive director Lau Choo Kuang, owns 7.62%. In a separate announcement, TAS Offshore reported stronger earnings for the third quarter ended May 31, 2026, with net profit rising to RM2.95 million from RM205,000 a year earlier, supported by higher vessel deliveries. Revenue for the quarter increased 22.7% to RM24.14 million, while nine-month net profit grew 24.6% to RM19.41 million. Looking ahead, the group said Indonesia remains its key market, driven by strong demand from the mining, maritime trade, and port development sectors.