MISC Bhd has redesignated its independent director Mohammad Suhaimi Mohd Yasin as its new chairman with immediate effect, according to a filing with Bursa Malaysia.
He succeeds Datuk Abu Huraira Abu Yazid, who stepped down after serving five years in the role and did not seek re-election at the company’s recent annual general meeting.
Mohammad Suhaimi Mohd Yasin.
Suhaimi, aged 65, is currently also the chairman and independent non-executive director of Malaysia Marine and Heavy Engineering Holdings Bhd, which is a 66.5%-owned subsidiary of MISC.
The group acknowledged that Suhaimi’s concurrent roles may present potential conflict-of-interest risks, particularly given the possibility of related-party transactions between the two entities. However, MISC said it has established governance measures and internal controls to identify, manage and mitigate any such conflicts to ensure proper oversight.
The appointment comes as part of the group’s leadership transition following Abu Huraira’s departure, marking a new phase in board-level leadership at the shipping and energy-related services group.
On the market front, MISC shares closed eight sen lower at RM8.15 on Wednesday, giving the group a market capitalisation of RM36.38 billion.
