KHAZANAH Nasional Bhd has denied that the sovereign wealth fund is looking to replace Telekom Malaysia Bhd (TM) group managing director and chief executive officer Noor Kamarul Anuar Nuruddin.
This was in response to a query by FocusM, citing sources, that the telecommunications giant might see a change in the post with former TM director and Khazanah head of telecommunications Farid Mohamed Sani as among the frontrunners.
“It’s absolutely not true that Khazanah is looking to replace Telekom Malaysia’s managing director and group CEO. Telekom Malaysia is a public-listed company with its own Board of Directors and corporate governance. The Board of Directors governs matters related to the company’s leadership in consultation with the government, which has a golden share in Telekom Malaysia,” a company spokesperson told FocusM.
Noor Kamarul was appointed TM chief on June 13 last year as a nominee of the group’s special shareholder Minister of Finance.
Khazanah owns some 21.58% stake, followed by the Employees Provident Fund at 23.77% as of June 30.
TM’s shares hovered 0.73% lower at RM4.10 before the midday break today, giving the company a market capitalisation of RM15.44 bil. – July 13, 2020
