KUALA LUMPUR, 29 APRIL 2021: We refer to the news article titled “Speculation rife about Boustead’s MD Shazalli Ramly heading to LTAT” which appeared on the online news portal The Edge Markets on Wednesday 28 April 2021, 4.46pm.

We wish to clarify that such changes of leadership at Boustead Holdings Berhad (Boustead) as reported by the article are UNTRUE.

Both Boustead Group Managing Director Dato’ Sri Mohammed Shazalli Ramly and Group Deputy Managing Director Izaddeen Daud have put in place various plans and initiatives to Reinvent Boustead and they look forward to carry them through.


About Boustead Holdings Berhad

Boustead Holdings Berhad (‘Boustead’), one of Malaysia’s oldest conglomerates, is Lembaga Tabung Angkatan Tentera (‘LTAT’)’s investment arm. 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 30 September 2020, Boustead Holdings Berhad’s paid-up capital was RM2.7 billion while its shareholders’ funds stood at RM3.5 billion. Market capitalisation is currently 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 Corporate Communications Department at gcom@boustead.com.my