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Syed Yusof to join board of Titijaya Land

KUALA LUMPUR: Tan Sri Syed Mohd Yusof Syed Nasir, who is known to be a close associate and a trusted business partner of Sultan Sharafuddin Idris Shah of Selangor, will join Titijaya Land Bhd’s board of directors soon, according to sources.

A source told The Edge Financial Daily that Syed Mohd Yusof will be appointed as a non-executive director in the property firm, acting in an advisory role.

“His [Syed Mohd Yusof’s] entry into Titijaya will be beneficial to the group judging by his status,” the source said, adding that the announcement will be made on Bursa Malaysia soon.

Popularly known as Jojo, Syed Mohd Yusof is the chairman of Venus Assets Sdn Bhd, which is responsible for the Four Seasons Place project in the Kuala Lumpur City Centre. Syed Mohd Yusof also owns the Concorde hotels in Kuala Lumpur and Shah Alam, and the Hard Rock Café Malaysia chain. 

He is chief executive officer of property developer ISY Holdings Sdn Bhd and a director of investment holding company Sovereign Enterprises Sdn Bhd, both of which Sultan Sharafuddin is a shareholder.

Syed Mohd Yusof is also chairman of Vasseti Bhd, which is involved in the telecommunications, information and communications technology, engineering and construction, real estate and properties, automotive, plantation, leisure and life concepts, security and HR services sectors.

He helms pipemaker YLI Holdings Bhd, Casa Del Rio (M) Sdn Bhd, Palmco Hotels and other companies. Titijaya’s total gross development value stood at RM4 billion as of July this year, with 500-acre (202ha) tracts in the Klang Valley and 20.4 acres in Batu Maung, Penang.

Since its listing in November last year, Titijaya’s counter has rallied 86.67% to RM2.80 on July 17 this year from RM1.50 on Nov 26 last year. It closed 1.21% lower at RM2.45 yesterday, giving it a market capitalisation of RM865.6 million.

Syed Mohd Yusof will be joining the property firm as a non-executive director, acting in an advisory role, according to a source. Photo by Suhaimi Yusuf


This article first appeared in The Edge Financial Daily, on October 3, 2014.

 

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