These appointments have been endorsed by YAB Prime Minister and Minister of Finance, Dato' Seri Abdullah Ahmad Badawi and will come into effect from 1 March 2004.
As previously announced, KLSE has recently completed its conversion into a public company limited by shares from a company limited by guarantee on 5 January 2004. The conversion is part of the transformation process which has demutualised the exchange into an Exchange Holding Company - KLSE Bhd and its wholly owned subsidiary Malaysia Securities Exchange Berhad (MSEB) - the operating stock exchange. As part of this conversion, the position of Executive Chairman has been rationalised into 2 positions of Chairman and Chief Executive Officer.
Executive Chairman of KLSE Bhd, Dato' Mohd Azlan Hashim expressed his confidence on the choice of Chairman and Chief Executive Officer for the exchange group.
"On behalf of the board of KLSE Bhd, we are delighted and warmly welcome the appointment of Tun Mohamed Dzaiddin as Chairman and Yusli Mohamed Yusoff as Chief Executive Officer.
"Both are well qualified, widely experienced and respected in their chosen areas of expertise. Both have built a sound and consistent reputation for a high degree of commitment towards achieving outstanding performance and results.
"We look forward to their contribution in propelling KLSE Bhd and the Malaysian securities industry and capital market to greater heights of capabilities and achievements," Mohd Azlan said.
Tun Mohamed Dzaiddin, 66, a former Chief Justice of Malaysia, is a renowned member of the Malaysian judiciary having served for over 20 years in many significant positions. For his distinguished service to the nation, Mohamed Dzaiddin was awarded the country's honours several times, the most recent being the S.S.M. (Grand Commander - 1st Class) by DYMM Seri Paduka Baginda Yang Di-Pertuan Agong which carries the title 'Tun'.
Mohamed Dzaiddin's extensive experience includes legal advisory positions to several banks and public corporations since 1967 and directorships in public listed companies since 1975. Mohamed Dzaiddin was a former Vice President of the Malaysian Bar and the ASEAN Law Association. He was also appointed Chairman of the Tun Mohamad Suffian Foundation in 2002, a position he holds until today.
On his appointment as Chairman of KLSE Bhd, Mohamed Dzaiddin said, "I would like to thank YAB Prime Minister and Finance Minister Dato' Seri Abdullah Ahmad Badawi for endorsing this appointment and to the Board of Directors of KLSE Bhd with whom I look forward to working with.
"The honour of this appointment is underscored by the responsibility and accountability of this position to ensure the successful transformation of the exchange from infrastructure provider and industry regulator to an entity with expanded commercial objectives.
"The objectives of providing infrastructure that is efficient, cost effective and secure and at the same time preventing the wrong without impeding the beneficial in the securities industry and capital market must continue to be achieved.
"In this respect, I look forward to the opportunity to continue the excellent work of the present Executive Chairman Dato' Mohd Azlan Hashim and indeed will require the support and co-operation of all board members, management and staff of KLSE Bhd," he said.
Yusli Mohamed Yusoff, 44, is a chartered accountant with established experience in financial accounting in Britain and Malaysia and in managing public companies in Malaysia. A member of the Institute of Chartered Accountants, England and Wales, Yusli has held key positions in prominent corporations and has built his expertise in financial management, risk management and business development.
Yusli's direct involvement in the Malaysian securities industry and the KLSE Group has been expanded extensively since the year 2000, in his capacity as Chief Executive Director, CIMB Securities Sdn Bhd, Chairman, Association of Stockbroking Companies Malaysia, Director of Malaysia Derivatives Exchange Bhd and Committee Member of KLSE.
On his appointment as Chief Executive Officer of KLSE Bhd, he said, "I share the appreciation and sentiment expressed by Tun Mohamed Dzaiddin for YAB Prime Minister and Finance Minister Dato' Seri Abdullah Ahmad Badawi and the Board of Directors of KLSE Bhd. Thank you for the honour.
"Having worked closely with KLSE's governing committee, senior management and members of the stockbroking community through the challenges and changes in the last few years, I look forward to the teamwork and rapport built thus far, to continue contributing to the growth and progress of the stock exchange and the securities industry.
"The process of streamlining the operations and re-engineering the business of the exchange, initiated by the present management team, will remain a key focus of the exchange, moving forward. In fact, the present Executive Chairman Dato' Mohd Azlan Hashim has been known for his meticulous and hands-on approach in leading a committed and supportive management team at KLSE since 1998.
"There is no doubt that this has resulted in the accomplishment of many significant initiatives for the exchange even under tremendous pressure of challenges. This has ensured that KLSE is prepared and ready to grow and progress further," he said. "However, even more will be demanded of KLSE Bhd, moving forward.
"We have to work even harder and closely together in enhancing the international competitiveness of the stock market, expanding the performance oriented culture of the stock exchange, improving industry regulations and market standards and ultimately - increasing value for all stakeholders," Yusli said.
With the completion of the conversion of KLSE on 5 January 2004, the inaugural board comprises Dato' Mohd Azlan Hashim as Executive Chairman, Datuk Mohaiyani Shamsuddin as Deputy Chairman and Directors Tan Kim Leong, Abdul Kadir Kassim, Abdul Jabbar Abdul Majid, Yusli Mohamed Yusoff, Peter Leong Tuck Leng, Datin Mariam Yusof and Abdul Rauf Ramli.
This inaugural board will continue until the appointment of the Chairman and Chief Executive Officer comes into effect on Monday, 1 March 2004. The term of Dato' Mohd Azlan Hashim, the present Executive Chairman of KLSE Bhd will end on 29 February 2004.
