KUALA LUMPUR, 2 MARCH 2023 – Boustead Holdings Berhad (Boustead) today announces the appointment of Dato’ Ahmad Nazim Abd Rahman as the Group’s new non-Independent non-Executive Chairman.

Dato’ Nazim Rahman, age 47, holds a Bachelor of Laws (Honours) from the International Islamic University Malaysia. He was a J William Fulbright Scholar at Georgetown University, United States of America where he received his Master of Laws. He then studied economics and public policy at Sciences Po in Paris, France.

Dato’ Nazim Rahman, who has more than two decades of experience in corporate management, corporate finance and investment, joined as a Board member of Boustead on 1 July 2021.

Currently, he is the Chief Executive of Lembaga Tabung Angkatan Tentera (LTAT) and had stints in the United Arab Emirates as well as Singapore as the Managing Director for Southeast Asia of Allied Investment Partners, an investment and advisory firm.

Dato’ Nazim Rahman previously served on the boards of Energy Commission Malaysia and Perbadanan Tabung Pendidikan Tinggi Nasional.

Apart from Boustead Holdings Berhad, he is currently a Non-independent non-executive Director of Boustead Heavy Industries Corporation Berhad and is Chairman of Boustead Naval Shipyard Sdn Bhd and Boustead Petroleum Marketing Sdn Bhd.

Boustead’s Group Chief Executive Officer, Izaddeen Daud said Boustead is honoured to have Dato’ Nazim Rahman as its new Chairman.
“With Dato’ Nazim’s broad experience in the corporate and financial sectors in major financial centres internationally, we believe that he would elevate Boustead to a new height.

“We look forward to his leadership, guidance and counsel to meet our strategic goals in line with the Reinventing Boustead strategy as we enhance and maximise shareholder value while protecting the interests of our shareholders, especially LTAT as our majority shareholder,” he added.


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Forward looking statements

This release may contain certain forward-looking statements with respect to the financial conditions, results of operations and business of the Group and certain plans and objectives of Boustead Holdings Berhad with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

About Boustead Holdings Berhad

Boustead Holdings Berhad (“Boustead”) is one of Malaysia’s oldest conglomerates with Lembaga Tabung Angkatan Tentera (“LTAT”) as its majority shareholder. The diversified Group comprises more than 90 subsidiaries, associate companies and joint ventures, and has substantial interests in various sectors of the Malaysian economy.

Its operations are focused in five key areas namely plantation, heavy industries, property & industrial, trading, finance & investment, and pharmaceutical.

Since its inception as a modest trading entity more than 190 years ago, the Boustead Group has grown by leaps and bounds. As at 31 December 2022, Boustead Holdings Berhad’s paid-up capital was RM2.7 billion while its shareholders’ funds stood at RM3.3 billion. Market capitalisation is in the region of RM1.3 billion. For more information on Boustead, log on to www.boustead.com.my.

For more details, please contact Boustead’s Group Engagement & Experience Department at gee@boustead.com.my.