©The
Business Times (Used by permission)
by Goh Thean Eu
SYNERGY Drive Bhd, which will become the world's largest listed plantation firm,
has finalised the full line–up of its board of directors.
In a statement released yesterday evening, the company announced the appointment
of six new directors – including former Deputy Prime Minister Tun Musa Hitam as
chairman and Pemodalan Nasional Bhd chairman Tan Sri Ahmad Sarji Abdul Hamid as
deputy chairman.
The appointment may not be a surprise to the market, as media reports, citing
sources, had tipped Musa as the leading candidate for the post.
"Believe it or not, I least expected it. For the last couple of months, there
were rumours that I will become the chairman of Synergy Drive. I dismissed the
rumours seriously. Nevertheless, I'm humbled by the appointment, it's such a
huge conglomerate.
"This is the time I have to use my age and experience. It is very challenging,
but I am used to challenges in my life. Of course, my work will be made easier
because I have with me a group of distinguished personalities on the board, as
well as on the management team," Musa told Business Times when contacted
yesterday.
Besides Musa and Ahmad Sarji, the other four newly–appointed directors were Dr
Arifin Siregar, Datuk Henry Sackville Barlow, Datuk Dr Abdul Halim Ismail and
Datin Paduka Zaitoon Othman.
The board of directors had their maiden meeting last Saturday.
"I am very happy with the first meeting. There is synergy among the board
members, which is very important. Together, we will work together to add value
to all the shareholders and stakeholders of the company," Musa added.
Musa is also currently the chairman of UM Land Bhd and Lion Industries Corp Bhd.
Prior to the appointment, he held a number of key corporate posts, including
chairman of Federal Land Development Authority (Felda), Guthrie and is the
founding chairman of the CIMB Group's International Advisory Panel.
Ahmad Sarji, who is also a member of the Board of Trustees of Yayasan Pelaburan
Bumiputra, is the chairman of various organisations including Sime Darby Bhd,
Golden Hope Bhd, Petaling Garden Bhd, NCB Holdings Bhd and Syarikat Perumahan
Pegawai Kerajaan Sdn Bhd. He was also Chief Secretary to the Government
(1990–1996).
Dr Arifin, who was the governor of Bank Indonesia from 1983 to 1988, is
currently the chairman of the Board of Commissioners of Medco Energy
Internasional Tbk, the largest private national oil company in Indonesia.
Barlow, who has over 35 years of experience in the plantation industry,
currently sits on the boards of Golden Hope, Guthrie Ropel Bhd, HSBC Bank (
Malaysia ) Bhd, The International and Commonwealth University of Malaysia Bhd
and Sutra Foundation.
Dr Abdul Halim, former managing director of Bank Islam Malaysia Bhd, is the
chairman of Mentakab Rubber Co (Malaya) Bhd. He also sits on the board of Golden
Hope, BIMB Unit Trust Management Bhd, SIMS Holding Sdn Bhd. and Institut
Kefahaman Islam Malaysia (Ikim).
Zaitoon sits on numerous boards and councils, and is the president of the Muslim
Lawyers Association of Malaysia and vice president of the Malay Economic Council
Malaysia.
They will join the six directors who were appointed on September 14 – Tan Sri Dr
Wan Mohd Zahid Mohd Noordin, Tan Sri Dr Ahmad Tajuddin Ali, Raja Datuk Arshad
Raja Tun Uda, Datuk Seri Panglima Andrew Sheng Len Tao, Datuk Mohamed Sulaiman
and Datuk Seri Ahmad Zubir Murshid.
The company also announced the resignation of three directors, Tan Sri Md Nor
Yusof, Datuk Zainal Abidin Putih and Wan Razly Abdullah Wan Ali.
Synergy Drive, expected to be listed on the local stock exchange in November, is
poised to be the most liquid stock with the largest market capitalisation on
Bursa Malaysia, given its status as the world's largest oil palm plantation
group and potentially Malaysia's largest property developer.