KUALA LUMPUR – SP Setia Bhd has named Datuk Choong Kai Wai to succeed Datuk Khor Chap Jen as president and chief executive officer (CEO) effective October 1 this year.
The company has also named Datuk Koe Peng Kang to succeed Datuk Wong Tuck Wai as deputy president and chief operating officer from the same date.
In a filing with Bursa Malaysia today, it said the announcement is in preparation for a smooth transition as Khor and Wong will retire from their respective positions by the end of September.
“The succession plan will sustain the position of SP Setia as the leading property developer in Malaysia,” it said.
Chairman Tan Sri Syed Anwar Jamalullail said the board of directors, management and staff are looking forward to working closely with Choong in his new role as CEO.
“I have full confidence that Choong will continue to provide great leadership, given his breadth of leadership and business experience in the domestic and international markets.
“His international experience will add new perspectives to growing our business beyond the Malaysian shores as we look towards diversifying and expanding SP Setia into a global business player, complementing the current regional and global investments,” he said. – Bernama, February 2, 2021
