KUALA LUMPUR, Ranhill Utilities Bhd has appointed Datuk Faiz Ishak as its chairman, ending a year-long vacancy following the resignation of founder Tan Sri Hamdan Mohamad in August 2024. Faiz, a non-independent director, takes the helm as the Johor-based utility company undergoes a new phase under its largest shareholder, YTL Power International Bhd.
Hamdan, who had led Ranhill since it acquired the listing of Symphony House Bhd in December 2015, stepped down after YTL Power and its 70%-owned unit, SIPP Power Sdn Bhd, completed a mandatory general offer (MGO) in July 2024. The MGO secured a controlling 53.19% stake in Ranhill, following YTL Power’s initial acquisition of nearly 19% of the company for RM140 million in late 2023.
The takeover triggered significant boardroom reshuffles, with five new directors appointed in August 2024, including Yeoh Keong Yeen and Yeoh Keong Yuan as executive directors. Several previous board members, including Hamdan, former executive directors Datuk Seri Panglima Lim Haw Kuang and Zurina Abdul Rahim, and Hamdan’s daughter Imaan Aiysha Hamdan, also stepped down.
Faiz, 67, joined Ranhill’s board in August 2024. An ACCA-qualified accountant, he has previously held directorships at Transocean Holdings Bhd, YTL Corporation Bhd, and YTL Power.
Ranhill, which operates Johor’s sole water utility through Ranhill SAJ Sdn Bhd, reported a net profit of RM17.77 million for Q2 2025, more than double the RM6.94 million recorded in the previous quarter. The company expects strong demand for water services from data centre developments and strategic initiatives, including the Johor-Singapore Special Economic Zone and Special Financial Zone, to support future growth. Ranhill’s shares closed at RM1.59 on Thursday, down three sen or 1.85%, giving the company a market capitalisation of RM2.06 billion.
