KUALA LUMPUR (Aug 22): Tropicana Corp Bhd independent director Tan Sri Othman Abd Razak has been redesignated as chairman of the group effective immediately. The post was left vacant when Tan Sri Rastam Isa retired in May.

Othman, 68, was appointed independent director in April 2016. He also currently serves as an adviser to the prime minister.

In a filing with Bursa Malaysia yesterday, Tropicana said Othman began his career in the Malaysian administrative and diplomatic service in 1972. He served in various capacities in the Malaysian foreign missions in Asia, Europe and the Middle East. Before his retirement, he served as the director-general in the prime minister’s department from 2002 and 2006.

“Upon his retirement in 2006, Othman served as an adviser to the prime minister. In this capacity, he was the Malaysian government chief facilitator in the peace process between the government of the Philippines and the Moro Islamic Liberation Front until 2010. During his tenure, he attended several forums and discourses in conflict resolutions, peace mediation and peacekeeping in Europe and the Middle East,” said Tropicana.

Othman also served as an independent non-executive director and an audit committee member of Keretapi Tanah Melayu Bhd from 2006 to 2010. He was also a director of Kumpulan Ikram Sdn Bhd, a wholly-owned subsidiary of Protasco Bhd, from 2006 to 2007.

In a separate filing, Tropicana announced a first interim dividend of two sen per share for the financial year ending Dec 31, 2017.

“The books closure date to determine the entitlement for the interim dividend will be announced after obtaining the approval from Bursa Securities on the company’s additional listing application,” it said.

Tropicana shares closed up 0.5 sen or 0.53% at 95.5 sen per share yesterday, bringing a market capitalisation of RM1.4 billion.

This article first appeared in The Edge Financial Daily, on Aug 22, 2017.

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