KUALA LUMPUR: Rizal Rickman Ramli Appointed President of Sime Darby Property Bhd with effect from Friday, succeeding Tan Sri Dr. Zeti Akhtar Aziza who retired after taking office in July 2018.
In a statement issued after the 48th assembly held almost Thursday, Sime Darby Property said Rizal Rickman joined the board as a non-independent non-executive director on April 5, 2018.
He is currently the Chief Investment Officer, Private and Strategic Investments at Permodalan Nacional Bhd (PNB).
Sime Darby Property also said Zeti, who was the group’s first wife, had expressed an intention not to seek re-election.
“I would like to thank our shareholders for their unwavering trust and continued support for Sime Darby. This support was particularly valuable during 2020, which was one of the most challenging periods for the group.
“I am honored and privileged to serve Sime Darby Property since 2018 as CEO.
“Sime Darby Property has an outstanding set of assets and with its transformative initiatives underway, the group is well placed on the path to success.
“I believe in the caliber and diligence of management and administration to ensure that Sime Darby Property will bring sustainable value to the benefit of all its stakeholders, especially shareholders,” said Zeti, who is the former Governor of Bank Negara Malaysia.
(Tan Sri Dr. Zeti Akhtar Aziz (right) Chairman of the 48th Annual General Assembly of Sime Darby Property, held almost. On her right, Datuk Azmir Merican, General Manager of Sime Darby Property Group)
Sime Darby Property said Zeti has institutionalized a clear vision that has paved the way for the group to expand its revenue and business portfolio beyond the usual and into new areas that will make the company more resilient.
As a result, Sime Darby Property will now benefit from its new growth drivers that include industrial and logistical features that should benefit from growing e-commerce activities.
“Her experience and strategic leadership have also been key in overcoming the inherited problems faced by Sime Darby Property in a post-pure deviation game from the Sime Darby group of companies.
“This includes reducing the group’s unsold assets and introducing organizational reforms at the corporate and operational levels.
“Sime Darby Property is currently embarking on a transformation that will see the group evolve from a pure real estate developer to a multi-source real estate development company,” the statement said.
The director of his group, Datuk Azmir Merican, said, “Tan Sri Dr. Zeti chaired the board during an important phase in Sime Darby Property’s history.
“The group has the privilege of benefiting from its clear vision that has laid the foundation for our next phase of transformation. Her predictions to drive new growth frontiers in the real estate segment will continue to lead the group into the future. “
PNB, the majority shareholder of Sime Darby Property, also recently announced Zeti’s retirement from the presidency, which takes effect on April 30th.
During her tenure, Zeti has led PNB – Malaysia’s largest fund manager – through a transformation journey that includes diversifying its investment efforts into a wider range of asset classes and global markets, strengthening its risk and liquidity management capabilities and embarking on organizational transformation to achieve digital innovation , operational efficiency and initiatives to develop a base of talented people.
Meanwhile, her successor Rizal Rickman at Sime Darby Property joined PNB in March 2018 as executive vice president of real estate / real estate and took over the role of chief real estate investment director in 2020.
Under his leadership, PNB’s real estate portfolio has doubled and expanded its focus from primarily commercial offices to new areas such as logistics, industry and apartment buildings.
The portfolio is now well diversified and includes investments in markets such as the United States, Japan, Australia, Poland, Germany, the Netherlands and the United Kingdom.
Rizal Rickman was appointed PNB’s Chief Investment Officer for Private and Strategic Investments in April 2021. In that role, he now oversees three departments – real estate, private markets and strategic investments.
Prior to joining PNB, Rizal Rickman was an Managing Partner at The Boston Consulting Group (BCG) in Malaysia.
During his time at BCG, he has advised clients from more than 10 countries and established BCG Malaysia as a regional hub for his business services. His areas of expertise include strategy development, innovation and business model growth, as well as corporate and industrial transformation.
Rizal Rickman is also the director of Velesto Energy Bhd since March 2018. He is also a member of the board of other public companies, namely Pelaburan Hartanah Nasional Bhd, MIDF Property Bhd and Lanjut Golf Bhd.
He has a Master of Business Administration with a concentration in Finance and Operations from the Kellogg School of Management, Northwestern University and a Bachelor of Arts, Economics from the University of Chicago.