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FORMER PETRONAS PRESIDENT SHAMSUL LIKELY TO JOIN ENRA GROUP

Monday, 15 June 2015 / TheStar Online

http://www.thestar.com.my/business/business-news/2015/06/15/shamsul-likely-to-join-ENRA-group/

PETALING JAYA: Tan Sri Shamsul Azhar Abbas (pic), the former president and chief executive officer of Petroliam Nasional Bhd (Petronas), will be joining the board of  ENRA Group Bhd, the property investment company formerly known as Perduren Corp Bhd, said sources. He will be appointed as non-executive independent director in ENRA. The announcement is expected to happen this week. Shamsul has served in Petronas, Malaysia’s only Fortune 500 company, for 40 years, and was the president and CEO for the last five years. ENRA saw the entry of a new group of controlling shareholders in the company last year. A group led by Datuk Kamaluddin Abdullah and Datuk Mazlin Junid took control of Perduren after they acquired 93.5 million shares or a 69.3% stake in the company.

Kamaluddin is the son of former prime minister Tun Abdullah Ahmad Badawi and a co-founder of Scomi Group Bhd Meanwhile, Mazlin was formerly the president and CEO of Daya Materials Bhd. Kamaluddin and Mazlin had acquired the shares in Perduren via a direct business transaction from its major shareholder, Tan Sri Law Tien Seng. Subsequently they issued a notice of unconditional takeover offer for Perduren at a cash offer price of RM1.60 per share. ENRA was last traded at RM2 on Friday. With the approval of its name change to ENRA on June 2, the company started announcing new appointments and resignations to its board of directors. The new line up of directors have a background of oil and gas (O&G) while others are seasoned corporate names. Another key appointment was Datuk Ali Abdul Kadir, the former chairman of the Securities Commision, as ENRA’s new chairman.

 

 Meanwhile, Datuk Anuar Ahmad, Petronas’ former executive vice-president of gas and power division, has been appointed ENRA’s independent and non-executive director. Kamaluddin has been redesignated to executive deputy chairman while Mazlin is now president of ENRA. Resignations in ENRA included Law Wai Cheong, and Datuk Lau Chin An, the former director and chairman of Perduren respectively. Wai Cheong is the son of Tien Seng, while Lau is the cousin of Tien Seng. Kamaluddin has an indirect interest of 33.06% in ENRA while Mazlin has a 21.79% stake in the company. Kamaluddin owns shares in ENRA via his vehicles – Trillion Icon Sdn Bhd, Amira Properties Sdn Bhd, Intelek Kuasa Sdn Bhd and Paling Terbilang Sdn Bhd.

 

His wife Datin Azrene Abdullah also owns shares in the vehicles. Mazlin, the cousin of Azrene, owns his stake in ENRA via Mizreen Capital Sdn Bhd and Accentvest Sdn Bhd Kamaluddin is still a substantial shareholder of Scomi Group with an 11% stake in the company via Kaspadu Sdn Bhd. Last month, during ENRA’s EGM, Mazlin told reporters that the company was seeking opportunities to expand into O&G-related business. The company is eyeing the possibility of setting up an O&G supply base and housing projects near O&G facilities. In May, ENRA’s 75% subsidiary Fitzrovia Development Ltd acquired a five-storey office building in London from David, Wharin and Kevin Jeffert Green for £6.3mil (RM34.9mil). In a filing with Bursa Malaysia, Perduren said the freehold 0.04ha 18th century building would be redeveloped into four luxury apartments.

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