S P Setia shuffles leadership with new CEO and COO

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S P Setia has named Choong Kai Wai as president and CEO and Koe Peng Kang as deputy president and COO, replacing Khor Chap Jen and Wong Tuck Wai respectively as they retire by the end of September this year.

According to the company, the leadership transition follows a succession plan which is part of the company’s leadership talent agenda. The succession plan aims to sustain the leadership position of S P Setia as the leading property developer in Malaysia.

Choong is responsible for building organisational capabilities to carry on the momentum that Khor has developed. He has more than 30 years of experience in the property and construction industry with experiences ranging from technical to business leadership roles. He is currently EVP of S P Setia, leading the Australia market and joined in May 2010. Choong will be supported by Koe who has been with the company since 1997. According to the Bursa filing, Koe has been rotated through leadership roles covering the scope of infrastructure, convention centres, hospitality, and premium residential township projects.

Meanwhile, Khor was appointed acting CEO on 1 January 2015 and took on the CEO position on 1 April 2016. Wong was appointed acting COO on 1 January 2015 and COO on 1 April 2016. Chairman Syed Anwar Jamalullail said he has full confidence that Choong will continue to provide great leadership, given his breadth of leadership and business experience both in the domestic and international market.

"His international experience will add on new perspectives to growing our business beyond the Malaysian shores as we look at diversifying and expanding S P Setia into a global business player. The rich combination of both the experiences of Choong and Koe will present S P Setia with the right opportunity to take the Group to greater heights," he added.

Last month, the company brought on board dentsu Malaysia to manage media planning and buying duties for two years following a pitch. Dentsu has built an integrated team and services capability for Setia Group under Carat and will oversee strategic media planning, integrated media buying and investment strategy for the group brand and marketing and all the business units.

The group has properties in Malaysian states including Selangor, Penang, Johor, and Kota Kinabalu and also has expanded its reach beyond Malaysian shores to Vietnam, Singapore, Australia, China, Japan, and the UK.

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