19 hours ago
- Business
- New Straits Times
Classita appoints former IGP as chairman, rebrands to NexG Bina in affordable housing push
KUALA LUMPUR: Classita Holdings Bhd has appointed former inspector-general of police Tan Sri Razarudin Husain as non-executive chairman, effective immediately, as the company pivots toward public-interest-aligned development and large-scale infrastructure projects.
The leadership change follows NexG Bhd's emergence as Classita's substantial shareholder with a 32.61 per cent stake. The group has proposed a rebranding to NexG Bina Bhd, subject to shareholder approval, to reflect its shift into construction and development in partnership with NexG Group.
Ng Keok Chai, previously executive chairman, has been redesignated as executive director and will remain actively involved in project execution and business development under the company's new direction.
Leveraging his four decades in the police force, Razarudin is spearheading a proposal for a dedicated residential project for members of Koperasi Polis Diraja Malaysia (KPDRM) on Classita's Ulu Kelang landbank. The initiative, originally earmarked for a public service housing project (PPAM), will be repositioned as a mission-driven development aimed at affordable, dignified housing for police personnel and their families.
"Affordable, dignified housing is not just a need - it's a foundation for stability, morale, and long-term wellbeing. This initiative is not about property; it's about purpose. By proposing this to KPDRM, we're creating a win-win solution - uplifting the lives of those who serve the nation, while aligning Classita's future with meaningful, socially driven development," he added.
In addition to housing initiatives, Classita is preparing for participation in large-scale infrastructure projects, most notably the MRT3 System Project. The company is collaborating with Lion Pacific Sdn Bhd to jointly tender for the MRT3 System Project, with Lion Pacific acting as lead contractor.
Under the proposed arrangement, Classita is expected to undertake the SY303 work package, which involves the supply, testing, and commissioning of electric trains and related systems.
Classita said this partnership positions it to play a significant role in national infrastructure delivery and reflects the company's capacity to meet the demands of high-value, public-sector engineering contracts aligned with the Madani agenda.
With strategic support from NexG, whose core businesses include secure ID solutions, eKYC platforms and government-aligned digital infrastructure, Classita is set to expand its role in affordable housing, infrastructure and public-private partnership programmes.
Under the 13th Malaysia Plan, the government aims to build one million affordable homes by 2035, alongside major investments in transport, urban renewal and infrastructure.
A total of RM560.45 million has been set aside to upgrade 1,776 health clinics, while over 82,000 police and army quarters are being built or refurbished.
The Malaysia Construction Industry Report 2025 notes over 1,049 public projects worth RM58.8 billion in the pipeline, with RM60–70 billion in annual opportunities for housing, infrastructure and institutional works.
Razarudin said with the backing of NexG and a renewed leadership mandate, Classita is transforming into a development platform that serves not just markets but Malaysians.
"We are aligning ourselves with the nation's policy agenda—from affordable housing and infrastructure to projects that deliver lasting socioeconomic impact.
"To realise these ambitions at scale, government support will be crucial — including strategic land allocations, regulatory facilitation, and integration into national programmes.
