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Koong Wai Seng is Sunsuria’s new CEO

Koong Wai Seng

KUALA LUMPUR (May 23): Koong Wai Seng has been appointed as the new chief executive officer (CEO) of property developer Sunsuria Bhd, with effect from today.

In a filing with Bursa Malaysia today, Sunsuria said Koong, 49, who is currently the group’s deputy CEO and executive director, will be replacing Ho Hon Sang, 55, who has resigned from the CEO’s post to pursue other interests.

Ho will be undertaking the advisory role to the founder and executive chairman of Sunsuria, Datuk Ter Leong Yap.

“[Ho] has been instrumental in realising the vision of Sunsuria and we are grateful for his in-depth property industry experience and network in leading the team; and he will continue to be an invaluable resource as the advisor,” Ter said in a separate statement from the group.

Koong, meanwhile, has more than 20 years of financial and general management experience in a variety of industries, including audit, financial advisory, leisure, hospitality, healthcare, property development and property investment

He began his career at Arthur Andersen & Co before joining Sunway City Bhd for 13 years, where he was appointed as chief financial officer and later as the group finance director of the Sunway Group.

Subsequently, he joined Tropicana Corp Bhd (formerly known as Dijaya Corp Bhd) as an executive director, before assuming his position at Sunsuria.

Since joining the company in May 2013, Koong has spearheaded major strategies in key financial and general management decisions across the company’s portfolio of products and services.

This includes leading the role as the CEO of the Sunsuria Medini project in Johor Bahru, and the CEO of Sunsuria City — the smart township development project surrounding the Xiamen Malaysia University Campus in Salak Tinggi, Putrajaya South.

“[Koong] is a proven leader with strong business vision and ability to bring people together from all levels. He is also very passionate and highly committed to the company mission and core values, said Ter.

At 5pm today, Sunsuria shares ended the day unchanged at 84 sen, for a market capitalisation of RM671.02 million. – theedgemarkets.com

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