Daughter of Sunway founder to head team

KUALA LUMPUR: Sunway Bhd has appointed Sarena Cheah, daughter of group founder and chairman Tan Sri Jeffrey Cheah, one of the joint managing directors for the group’s Malaysian and Singaporean property development team.

Sarena, together with Sunway Bhd head of international property development Ong Pang Yen, have been appointed to succeed the group’s current managing director for its property development team, Ho Hon Sang.

According to the group’s statement, Ho will be leaving the company by end-May after having been with the Sunway group for almost 20 years. The Edge weekly had reported that Ho may join privately-held developer Sunsuria Group next month.

Sarena sits on Sunway’s board and holds the position of executive director of strategy and corporate development.

She is also one of the largest shareholders in Sunway with a 51.43% indirect interest held via her family’s investment vehicles, Active Builder Sdn Bhd and Sungei Way Corp Sdn Bhd.

This article first appeared in The Edge Financial Daily, on May 9, 2013.