Cypark appoints Tan Sri Abdul Wahid Omar as chair
KUALA LUMPUR: Cypark Resources Bhd has appointed Tan Sri Abdul Wahid Omar as its independent non-executive director and chair of the board, effective June 9, 2025.
In a statement, the group said Abdul Wahid succeeds Datuk Hamidah Moris (Ami Moris) as the board chair, as she transitions to the role of group managing director.
"Cypark is poised for its next leap forward. Over the past 12 months, we've added 270MWp of solar energy capacity and improved the energy generation performance from our waste-to-energy facility by 25%.
"These results are a testament to the resilience of our reconstituted board in 2024 and new leadership team's commitment to excellence," said Ami Moris.
According to Cypark, these changes reflect the board's strategic direction to strengthen independent oversight while empowering proven executive leadership.
"The separation of the chair and managing director roles ensures a high standard of governance, transparency, and accountability, in line with best practices for Bursa Malaysia listed companies," it said.
Meanwhile, Datuk Dr Gue See Sew has been appointed independent non-executive director, effective June 9, 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
31 minutes ago
- New Straits Times
T7 Global proposes sweeping share plan, includes directors and family members
KUALA LUMPUR: T7 Global Bhd is seeking shareholder approval for a sweeping new long-term incentive plan (LTIP) that would allow it to issue or transfer shares equivalent to up to 15 per cent of its issued capital. The proposed LTIP includes allocations to all directors, the group chief executive officer (CEO) and several family members, according to a shareholder circular filed with Bursa Malaysia today. The plan is intended to replace a dormant employee share option scheme (ESOS) launched in 2017, under which not a single option was granted over its eight-year lifespan. T7 Global now proposes to terminate that scheme early and introduce a broader plan comprising not only stock options but also outright share grants, awarded with no cash payment required from recipients. Among the proposed recipients are executive chairman Tan Sri Nik Norzrul Thani, group CEO Tan Kay Zhuin and directors Tan Kay Vin and Tan Kay Shen, who are sons of T7 Global's major shareholder Tan Sri Tan Kean Soon. Their mother, Puan Sri Shirley Law, who is senior vice president of group support services, is also listed as a recipient. Also named is their uncle, Datuk Tan Kean Seng, deputy head of the Industrial Solutions Division. The LTIP, to be voted on at an extraordinary general meeting (EGM) on June 24, could see the company issuing as many as 175 million new shares, depending on how the plan is executed. While the ESOS component may generate working capital upon exercise, the share grant plan (SGP) would award shares at no cost to recipients, effectively diluting existing shareholders without raising funds. The board is also seeking shareholder approval to waive pre-emptive rights under Section 85 of the Companies Act, which would allow new shares issued under the LTIP to bypass existing shareholders. The proposal comes as T7 Global's share price has fallen sharply, tumbling more than 50 per cent, from a high of 53.5 sen in June 2024 to 26 sen in May 2025. This followed a private placement exercise completed in October 2024 that raised RM42.9 million and expanded the company's share base by over 81 million shares. Despite the timing, the company said the LTIP is necessary to retain and motivate key personnel, align management interests with shareholders and attract new talent. "The allocations to independent and non-executive directors are subject to vesting conditions and do not compromise their ability to act in the best interests of the company," it said in the circular. Still, the breadth of the proposal, extending to board members, C-suite executives and their relatives, may raise questions around governance, oversight and the concentration of incentives within a small circle of insiders. If approved, the plan will be in force for 10 years, with an LTIP committee appointed by the board having wide discretion over how shares are awarded, vested and priced. The exercise price for stock options may carry a discount of up to 10 per cent to the prevailing market price, while shares granted under the SGP would be based on the same reference but awarded free of charge. Bursa Malaysia has approved the plan in principle, subject to several conditions. Shareholders will vote on the resolution at T7 Global's EGM on June 24. Shares of T7 Global closed half a sen, or two per cent, higher at 25.5 sen, with 5.12 million shares traded. This valued the company at RM230.15 million.
New Straits Times
an hour ago
- New Straits Times
Bursa Malaysia rises for second straight day on continued bargain hunting
KUALA LUMPUR: Bursa Malaysia closed higher for the second consecutive day as bargain hunting persisted after last week's sell-off, in line with the upbeat performance of regional markets, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 0.67 per cent, or 10.15 points, to 1,518.12 from Wednesday's close of 1,507.97. The benchmark index opened 2.73 points higher at 1,510.70, and moved between 1,509.25 and 1,520.34 throughout the trading session. The broader market remained positive with gainers outpacing decliners 641 to 341, while 437 counters were unchanged, 937 untraded, and 20 suspended. Turnover improved to 2.42 billion units valued at RM2.27 billion compared with Wednesday's 2.40 billion units worth RM2.03 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices also finished higher with strong buying in technology (tech), electric vehicle (EV) and real estate stocks. Global tech stocks found support as US Treasury yields declined, driven by soft labour data that heightened expectations of further rate cuts by the Federal Reserve (Fed). At the same time, market participants are closely monitoring ongoing trade tensions under US President Donald Trump and the potential for discussions with China's President Xi Jinping. Back home, the benchmark index remains well-supported above the 1,500 level, reflecting underlying market resilience. "Despite heightened global volatility, we believe the fundamentals of local equities remain solid, underpinned by attractive valuations and stable corporate earnings. "As such, we anticipate the FBM KLCI to trend within the 1,500-1,530 range towards the weekend," Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said adding to the cautious macroeconomic outlook, the Organisation for Economic Co-operation and Development has revised its US gross domestic product (GDP) growth forecast for 2025 downward, from 2.2 per cent to 1.6 per cent. "This recalibration of rate expectations provide a tailwind to regional equity markets, with Asian indices broadly outperforming," he added. Locally, the FBM KLCI was led by gains in the consumer, utilities, and construction sectors -- industries typically more sensitive to the interest rate dynamics. In contrast, banking counters were under pressure, reflecting the yield curve repricing and margin compression risk should the Fed pivot more dovishly than previously anticipated. "While today's rebound is encouraging, it would be premature to call a sustained recovery. Markets still lack a decisive catalyst, and external risks -- particularly the uncertainty trajectory of US-China trade relations-continue to cloud outlook. "Trading volumes remain below trend, with 2.4 billion shares changing hands compared to the daily average of 3.0 billion -- underscoring the market's cautious tone," Mohd Sedek added. Among the heavyweights, YTL Corp surged 15 sen to RM2.03, YTL Power International soared 22 sen to RM3.51, Petronas Chemicals garnered 12 sen to RM3.36, Press Metal added 15 sen to RM5.05, and Sime Darby rose 5.0 sen to RM1.75. As for active stocks, ACE Market debutant Signature Alliance Group advanced 8.0 sen to 70 sen, MYEG put on 3.0 sen to 93 sen, NexG fell half-a-sen to 37.5 sen, Tanco was 1.5 sen better at RM1, and Gamuda added 8.0 sen to RM4.74.
The Star
an hour ago
- The Star
Bursa Malaysia rises for 2nd straight day on continued bargain hunting
KUALA LUMPUR: Bursa Malaysia closed higher for the second consecutive day as bargain hunting persisted after last week's sell-off, in line with the upbeat performance of regional markets, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 0.67 per cent, or 10.15 points, to 1,518.12 from Wednesday's close of 1,507.97. The benchmark index opened 2.73 points higher at 1,510.70, and moved between 1,509.25 and 1,520.34 throughout the trading session. The broader market remained positive with gainers outpacing decliners 641 to 341, while 437 counters were unchanged, 937 untraded, and 20 suspended. Turnover improved to 2.42 billion units valued at RM2.27 billion compared with Wednesday's 2.40 billion units worth RM2.03 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices also finished higher with strong buying in technology (tech), electric vehicle (EV) and real estate stocks. Global tech stocks found support as US Treasury yields declined, driven by soft labour data that heightened expectations of further rate cuts by the Federal Reserve (Fed). At the same time, market participants are closely monitoring ongoing trade tensions under US President Donald Trump and the potential for discussions with China's President Xi Jinping. Back home, the benchmark index remains well-supported above the 1,500 level, reflecting underlying market resilience. "Despite heightened global volatility, we believe the fundamentals of local equities remain solid, underpinned by attractive valuations and stable corporate earnings. "As such, we anticipate the FBM KLCI to trend within the 1,500-1,530 range towards the weekend,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said adding to the cautious macroeconomic outlook, the Organisation for Economic Co-operation and Development has revised its US gross domestic product (GDP) growth forecast for 2025 downward, from 2.2 per cent to 1.6 per cent. "This recalibration of rate expectations provide a tailwind to regional equity markets, with Asian indices broadly outperforming,' he added. Locally, the FBM KLCI was led by gains in the consumer, utilities, and construction sectors -- industries typically more sensitive to the interest rate dynamics. In contrast, banking counters were under pressure, reflecting the yield curve repricing and margin compression risk should the Fed pivot more dovishly than previously anticipated. "While today's rebound is encouraging, it would be premature to call a sustained recovery. Markets still lack a decisive catalyst, and external risks -- particularly the uncertainty trajectory of US-China trade relations-continue to cloud outlook. "Trading volumes remain below trend, with 2.4 billion shares changing hands compared to the daily average of 3.0 billion -- underscoring the market's cautious tone,' Mohd Sedek added. Among the heavyweights, YTL Corp surged 15 sen to RM2.03, YTL Power International soared 22 sen to RM3.51, Petronas Chemicals garnered 12 sen to RM3.36, Press Metal added 15 sen to RM5.05, and Sime Darby rose 5.0 sen to RM1.75. As for active stocks, ACE Market debutant Signature Alliance Group advanced 8.0 sen to 70 sen, MYEG put on 3.0 sen to 93 sen, NexG fell half-a-sen to 37.5 sen, Tanco was 1.5 sen better at RM1, and Gamuda added 8.0 sen to RM4.74. On the index board, the FBM Emas Index increased 79.76 points to 11,362.83, the FBMT 100 Index garnered 75.42 points to 11,128.36, and the FBM ACE Index climbed 38.49 points to 4,518.14. The FBM Emas Shariah Index jumped 99.09 points to 11,340.74 and the FBM 70 Index leapt 114.31 points to 16,283.31. Sector-wise, the Financial Services Index fell 18.27 points to 17,739.57, the Plantation Index gained 15.71 points to 7,219.38, the Energy Index put on 6.15 points to 708.61, and the Industrial Products and Services Index edged up 2.02 points to 152.12. The Main Market volume rose slightly to 1.16 billion units valued at RM2.00 billion against Wednesday's 1.15 billion units worth RM1.83. Warrants turnover dwindled to 898.22 million units worth RM114.39 million from 967.10 million units valued at RM118.58 million yesterday. The ACE Market volume expanded to 361.18 million shares worth RM153.86 million versus 288.86 million shares valued at RM78.35 million previously. Consumer products and services counters accounted for 140.75 million shares traded on the Main Market, industrial products and services (158.91 million), construction (122.71 million), technology (228.74 million), SPAC (nil), financial services (79.12 million), property (143.30 million), plantation (13.83 million), REITs (13.15 million), closed/ fund (5,100), energy (61.45 million), healthcare (67.09 million), telecommunications and media (33.94 million), transportation and logistics (24.38 million), utilities (79.29 million), and business trusts (10,100). - Bernama
