Syed Mohamed resigns as Encorp chairman

PETALING JAYA: Encorp Bhd, the company controlled by the Federal Land Development Authority, said its chairman Datuk Syed Mohamed Syed Ibrahim has stepped down from his post with immediate effect.

Syed Mohamed, 59, took over the post in August last year, replacing Tan Sri Mohd Isa Abdul Samad.

In a filing with Bursa Malaysia, the property development and construction firm said that Syed Mohamed had resigned due to personal reasons.

Felda has a 70.82% stake in Encorp. Syed Mohamed is the chairman of Felda Investment Corp Sdn Bhd and Prasarana Integrated Development Sdn Bhd, as well as an executive director of Iskandar Waterfront Holdings Sdn Bhd.

He was also a director of I&P Group Sdn Bhd and is currently a director of Yayasan Sultan Ibrahim Johor and the Tunku Laksamana Johor Cancer Foundation.

He started his working career in the banking industry, namely, in Bank Bumiputera (M) Bhd and Bank Rakyat.

Later, he joined the Johor State Economic Development Corp where he served from 1989 to 1993.

The filing showed that he had his first stint in the property business with Advance Development Sdn Bhd, a unit of Kulim (M) Bhd.

His previous roles include leadership positions in the property segments of DRB-Hicom Bhd, TH Properties, Knowledge Economic City (Madinah, Saudi Arabia) and Sime Darby Group.

He was also the president and chief executive officer of Iskandar Investment Bhd from 2010 till 2016.