KUALA LUMPUR: Datuk Seri Johari Abdul Ghani has been appointed as KUB Malaysia Bhd’s new non-executive chairman, replacing Datuk Ahmad Ibnihajar.
Johari was Second Finance Minister and is a director of CI Holdings Bhd.
He has more than 25 years of experience In the corporate sector. Johari began his career at an international accounting firm, Messrs Peat Marwick & Co, now Known As Messrs KPMG.
Last week, Johari revealed to the New Straits Times that of KUB’s four activities, only liquefied petroleum gas (LPG) business had been profitable.
The other three businesses - plantation, ICT and power - had been losing money.
KUB, fhe former A&W franchise holder in Malaysia, had sold about RM400 million of assets and investments over the past 10 years.
“Most of the proceeds from the disposals were to finance its overhead,” said Johari, who was responding to the NST report on March 27, quoting sources, that his entry would likely lead to a slew of other changes at KUB, including layoffs and disposals of certain subsidiaries.