KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has announced the appointment of Raja Tan Sri Arshad Raja Tun Uda as the group chairman effective from June 1.
Raja Arshad is replacing Tun Arifin Zakaria who retired on May 5.
Raja Arshad is the chairman of Ekuiti Nasional Bhd, Icon Offshore Bhd and Bumi Armada Bhd.
He is also a former director of Maxis Bhd and Khazanah Nasional Bhd.
PNB president and group chief executive Ahmad Zulqarnain Onn said the fund's board and workforce welcomed Raja Arshad with his extensive experience in managing companies and institutions.
"We look forward to his leadership as we execute our strategic plan to deliver on our mandate in enhancing the economic wealth of the Bumiputera community and all Malaysians," he said in a statement today.
The statement also noted that Raja Arshad was formerly executive chairman of PricewaterhouseCoopers Malaysia and chairman of the "Leadership Team of PwC Asia 7".
During the Asian financial crisis of 1997, Raja Arshad was appointed chairman of Danamodal Nasional Bhd, one of three special purpose vehicles set up by the government to manage the crisis.
"He was appointed the first chairman of the Malaysian Accounting Standards Board. Internationally he was a member of the Standards Advisory Council of the International Accounting Standards Board and a member of the PwC Global International Financial Reporting Standards Board.
"He served as a member of the Securities Commission when it was first established. He was also a member of the Malaysian Communications & Multimedia Commission and the investment panel of the Employees Provident Fund," it said.
PNB said Raja Arshad was actively involved with charitable institutions.
He chairs the board of trustees of Yayasan Raja Muda Selangor and Yayasan Amir.
He is a member of the board of trustees of Lembaga Zakat Selangor and Yayasan DayaDiri.
He is also the Chancellor of Universiti Selangor.
Raja Arshad is a fellow of the Institute of Chartered Accountants in England and Wales, a member of the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants, where he served on its council for 24 years, three of which as the president.
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