Ahmad Fuaad to helm Malakoff from October 1

KUALA LUMPUR: Outgoing Proton Holdings Bhd (Proton) chief executive officer (CEO), Datuk Ahmad Fuaad Mohd Kenali, will be the new Malakoff Corp Bhd (MCB) CEO effective Oct 1.

MCB, an independent power producer, told Bursa Malaysia, with the appointment of Ahmad Fuaad, its acting CEO, Habib Husin will relinquish the position effective Oct 1 and remain the Executive Vice President, Operations of the company.

Ahmad Fuaad will remain a board member of the car maker until Sept 30. He was appointed CEO and Executive Director of Proton on April 1 last year.

Prior to his appointment in Proton, he was the chief operating officer - finance and corporate and chief financial officer ( CFO) of DRB-HICOM Bhd from August 2013 to March 2016.

He began his career with Arthur Andersen & Co in 1994. — Bernama THE Malaysian rubber market ended lower yesterday in line with regional peers, said a dealer.

The Tokyo Commodity Exchange (TOCOM) rubber futures also traded in a tight range following overnight weakness in other rubber markets.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 weakened 6.0 sen to 637.0 a kg, and latex-in-bulk depreciated 19 sen to 537.0 sen a kg. SHORT-TERM interbank rates closed steady yesterday on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional system fell to RM30.73 billion from RM41.62 billion, while in the Islamic system, it declined to RM9.6 billion from RM13.85 billion.

Earlier, the central bank called for a range maturity auction, a repo tender and three Qard tenders.

It also conducted a RM29.8 billion conventional overnight tender and a RM9.60 billion overnight Qard tender, both for one- day money.

The overnight Islamic reference rate stood at 2.96 per cent, while the one-, two- and three- week rates stood at 3.02 per cent, 3.07 per cent and 3.11 per cent respectively.