Boustead Properties gives aid to Johor flood victims 15 Jan 2021 / 08:35 H. From left: Liaison Manager of Boustead Properties Berhad, Othman Mohd Ali, hands over the mock cheque on behalf of Boustead Properties Berhad to Datuk Rashidi Md Nor, Deputy Chairman, National Committee for Community Services & Health, Malaysian Red Crescent Society in Johor Bahru.
JOHOR BAHRU, 14 January: Property developer, Boustead Properties Berhad, a member of Boustead Group, has responded to the plight of thousands in Johor who are impacted by the recent floods.
Together with its subsidiary Mutiara Rini Sdn Bhd, the Company donated RM20,000 in aid of the victims, through the Malaysian Red Crescent Society (MRCS).
BOUSTEAD Holdings Bhd’s new group managing director Datuk Seri Mohammed Shazalli Ramly, who stepped into his new role last Tuesday (Dec 1), has his work cut out for him, and that is to steer the diversified conglomerate back to profitability by 2023.
Shazalli is the third MD to helm the group in three years after Tan Sri Lodin Wok Kamaruddin and Datuk Seri Amrin Awaluddin. In a statement issued on Nov 27, Boustead hailed Shazalli as a “turnaround specialist”. Still, most of Shazalli’s career has been in telecommunications, more recently as the MD and CEO of Telekom Malaysia Bhd.
He inherits an organisation that has significant legacy issues, which its chairman Datuk Seri Mohamed Khaled Nordin had previously identified as investments made in the past that do not have the right focus in making them profitable, mismatch of funding between long-term investment and short-term debts, and a convoluted organisational structure where there are cross-holdings in Boustead subsidiaries