Kuala Lumpur, 31 January 2020
Sapura Energy Berhad is pleased to announce the appointment of Encik Abdul Jalil Abdul Rasheed as its Non-Independent Non-Executive Chairman, succeeding Dato’ Hamzah Bakar effective 1 February 2020. Dato’ Hamzah has had a long relationship with Sapura, going back to 4 July 2003 when he was appointed as a Board member of SapuraCrest Petroleum. On 9 December 2011, he joined the Board of Sapura Energy as Chairman.
Encik Abdul Jalil was appointed as President and Chief Executive of Permodalan Nasional Berhad (PNB) on 1 October 2019 and was subsequently appointed as Non-Independent Non-Executive Director of Sapura Energy on 1 January 2020. Sapura Energy is one of PNB’s key strategic companies, in which PNB and its associated funds collectively own a 40% stake.
During the Special Board of Directors’ meeting of Sapura Energy on 29 January 2020, the Board approved Sapura Energy’s business plan, and Encik Abdul Jalil had a discussion with the outgoing Chairman to ensure a smooth transition of Board leadership and drive the execution of the business plan. During the meeting, the Board had also approved the appointment of Tuan Syed Ali Syed Salem Alsagoff, a nominee director of PNB, as Non-Independent Non-Executive Director of Sapura Energy effective 1 February 2020.
Prior to joining PNB, Encik Abdul Jalil had been the CEO of the South Asian operations of a US-based fund management company, Invesco in Singapore. Encik Abdul Jalil holds a degree in accounting and finance from the London School of Economics & Political Science. He started his career as a graduate trainee at Aberdeen Standard Investments in London, rising through the ranks to become Investment Manager and Head of Equities, before eventually becoming the CEO of Aberdeen Islamic Asset Management in Kuala Lumpur prior to joining Invesco in 2013.
Until recently, Tuan Syed Ali was a senior global and key account manager at Baker Hughes Malaysia. Earlier in his career, he had worked in various capacities in fields that include auditing, asset management and logistics.
Tan Sri Shahril Shamsuddin, President and Group Chief Executive Officer of Sapura Energy said: “On behalf of the management and staff of Sapura Energy, I would like to congratulate and welcome Encik Abdul Jalil as Chairman of Sapura Energy and Tuan Syed Ali as a Board member.”
“We look forward to Encik Abdul Jalil bringing fresh ideas, deep capital markets knowledge and a varied set of competencies in helming the Board and enhancing its deliberations. His background and wealth of experience will be instrumental in steering Sapura Energy into a bright future. We have full confidence in him and his ability to take the company into its next exciting chapter of growth.”
“Furthermore, Tuan Syed Ali’s experience in oil & gas industry is a great addition to the current skills set of the Board of Sapura Energy and we look forward to working with him. We would also like to put on record our appreciation to PNB for its long-term commitment and trust in Sapura Energy.”
“We would like to express our gratitude to Dato’ Hamzah, whose vast experience, wise counsel and passion for excellence had guided us through challenging times and various corporate exercises. As a judicious steward of Sapura Energy, he has been integral to our accomplishments.”
“Dato’ Hamzah set the tone and vision for the company when we were a small oil & gas contractor. His invaluable oversight and advice helped us establish ourselves and become a global player that we are today. His legacy will continue to be part of the company’s future successes.”
Following the change in the chairmanship of the Board, Encik Abdul Jalil will be the Chairman of the Board Remuneration Committee, taking over from Dato’ Hamzah. Datuk Ramlan Abdul Rashid will succeed Dato’ Hamzah as Chairman of the Long-Term Incentive Plan Committee while Datuk Muhamad Noor Hamid will replace Dato’ Hamzah as a member of the Board Nomination Committee.
Cautionary note: “Sapura Energy”, “the group” and “the company” are used for convenience where references are made to Sapura Energy Berhad in general. Similarly, words like “we”, “us” and “our” are used to refer to Sapura Energy Berhad in general or to those who work for the company and its subsidiaries, where relevant. This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Forward-looking statements can be identified by the use of forward-looking terminology such as the words “may”, “will”, “would”, “could”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “aim”, “plan”, “forecast” or similar expressions and include all statements that are not historical facts.