PUTRAJAYA, Oct 5 2018 : Datuk Syed Zaid Albar’s appointment as the new Securities Commission (SC) Executive Chairman will take effect on Nov 1 instead of on Oct 15 as announced by the Prime Minister’s Department earlier, said Finance Minister Lim Guan Eng.
Syed Zaid will be replacing Tan Sri Ranjit Ajit Singh who is retiring on Oct 31.
“This has been approved by Prime Minister Tun Dr Mahathir Mohamad,” Lim said in a statement today.
He also expressed his appreciation for Ranjit Ajit’s contribution to the local capital market in his 25 years of service with the SC, including his six years as the Chairman.
“During his tenure as SC Chairman, Ranjit Ajit helped to preserve the stability of our capital markets by focusing on corporate governance, despite the challenge of poor public governance resulting from the 1MDB-related scandals,” said Lim.
He added that Syed Zaid has 38 years of experience in the legal profession after qualifying as a Barrister-at-Law from Lincoln’s Inn, London in 1979, and has extensive experience in the advocacy of the regulatory framework relating to securities law and capital markets. – Bernama