KUALA LUMPUR (Feb 8): Datuk Sri Nazir Razak has been appointed as the non-executive independent chairman of PLS Plantations Bhd with effect from Feb 10.
Nazir will assume the post from the group s current chairman, Tan Sri Datuk Lim Kang Hoo, who will be redesignated as executive vice chairman of PLS.
Lim is also the group executive chairman of Ekovest, which owns a 73.08% stake in PLS.
Joining Nazir on the board is another former CIMB senior ex-banker, Tan Hong Kheng, who will join as an independent non-executive director on the same date.
Nazir joins the board after the durian planter placed out 19 million new shares to him in a private placement exercise last month. The new shares were issued at 95 sen each.