S P Setia confirms Khor as executive president and CEO

KUALA LUMPUR (April 5): S P Setia Bhd has confirmed its acting president and chief executive officer (CEO) Datuk Khor Chap Jen (pictured) as executive president and CEO, Datuk Wong Tuck Wai as deputy president and chief operating officer (COO), and Choy Kay Yew as chief financial officer (CFO), effective April 1.

According to an exchange filing yesterday, S P Setia said Khor, 56, who has 287,811 direct shares in the company, is acting president and CEO since Jan 1, 2015.

In a statement, S P Setia chairman Tan Sri Dr Wan Mohd Zahid Mohd Noordin said he is confident that the confirmation of these three key management positions would continue to contribute positively to the sustainable growth of the company.

“Khor has been lending his expertise to the group since 1995. During his appointment as the acting president and CEO, Khor demonstrated his leadership in motivating and leading Team Setia in achieving commendable results, despite challenges faced in people movement in the company.

“He put the team in place and ensured a continuity of business operations, which resulted in the company achieving RM4.32 billion in sales for financial year 2015, the highest among the property industry,” it said.

S P Setia added that the group also won awards in 2015, that earned the recognition as one of the top property developers in the country under his leadership.

Meanwhile, Wong, 61, who has been with the group for 40 years, was acting deputy president and COO of S P Setia since Jan 1, 2015. He has 289,533 direct shares with the company.

“In his role as the acting deputy president and COO, Wong supported Khor in achieving a commendable group key performance index and sales results.

“With his vast experience in the industry, Wong provides valuable advice and strategic directions in ensuring continuous and smooth operations of the business, despite challenging market conditions, resulting in various projects completions and [on time] delivery,” the group said.

Choy, 45, joined S P Setia in April 2014 as the corporate affairs head and was subsequently appointed acting CFO on June 16, 2014.

“He has 24 years working experience in finance and investment banking. Prior to joining the group, he was head of Capital Market of Alliance Investment Bank Bhd,” the group said.

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This article first appeared in The Edge Financial Daily, on April 5, 2016. Subscribe to The Edge Financial Daily here.