IOI Corp appoints former plantations minister Peter Chin as chairman

KUALA LUMPUR (Jun 19): IOI Corp Bhd has redesignated its non-executive director Tan Sri Peter Chin Fah Kui, who was formerly Sarawak United Peoples’ Party (SUPP) president, as the plantation group's independent non-executive chairman, effective yesterday.

In its filings with Bursa Malaysia, IOI Corp also announced yesterday that chief executive officer (CEO) Datuk Lee Yeow Chor will be redesignated as the group’s managing director.

These changes came after the demise of the group’s former executive chairman Tan Sri Lee Shin Cheng earlier this month.

Chin, 74, had held various senior appointments in the government from 1968 until his retirement in May 2013, including the positions of federal minister, deputy minister and parliamentary secretary for the Ministry of Energy, Green Technology and Water, Ministry of Plantation Industries and Commodities, Ministry of Housing and Local Government, Ministry of Science, Technology and the Environment and Ministry of Welfare Services.

Yeow Chor, 53, was first appointed to the board on April 25, 1996 and was subsequently appointed as CEO on Jan 8, 2014.

IOI Corp’s share price gained five sen or 1.2% to RM4.23 yesterday, giving it a market capitalisation of RM25.83 billion.