One of Malaysia’s leading construction and property groups, IJM Corporation Berhad, has appointed Lee Chun Fai as new group chief executive officer and managing director, with effect from 1 April 2023.
Mr Lee, currently deputy CEO and deputy MD, will succeed Liew Hau Seng, who has announced his intention to retire effective 31 March 2023.
Tan Sri Krishnan Tan, chairman of the board of directors at IJM, said, “The board wishes to thank Liew for his leadership and invaluable contributions to the group, while at the same time welcome Lee into his new role.
“Lee’s appointment is the result of a robust succession planning process through which we expect a seamless transition. Lee is a seasoned executive with strong leadership qualities and a proven track record during his career at IJM, including overseeing the group’s growth strategies.
“We look forward to continued operational and financial success under Lee’s leadership as the group enters the next chapter in its 40-year history.”
Mr Lee was named deputy CEO and deputy MD on 6 April 2015. Throughout his 27 years of service with IJM, Mr Lee has held a variety of executive, operational and project leadership roles. “He has a deep understanding of the company, the industry, and the markets in which the group operates,” said IJM.
In his current capacity as deputy CEO and deputy MD, Mr Lee heads the group’s corporate strategy & investment department as well as the infrastructure division, comprising the group’s toll and port operations.
IJM further highlighted that Mr Lee “has been instrumental in building the group’s portfolio of local concession assets into the powerhouse it is today, with road concessions such as the New Pantai Expressway and Besraya. In addition, Mr Lee has played a pivotal role in the stellar growth and success of Kuantan Port and the Malaysia-China Kuantan Industrial Park.”
Prior to his promotion to deputy CEO and deputy MD, Mr Lee was the group’s deputy chief financial ofﬁcer and head of information systems until 2019.
“I am honoured and look forward to serving as IJM’s next CEO and MD and would like to thank the board for the confidence they have placed in me with their decision,” commented Mr Lee.
“The commitment and passion of our people as well as IJM’s proven track record for performance and quality of our products and services provide strong foundations on which to build on. I believe we have an exciting future ahead of us as we capture growth opportunities and harness synergies across our core businesses of construction, property, industry and infrastructure concessions.”
”Our focus will remain on delivering our world-class expertise and products to our clients, as well as to deliver long-term growth and value creation for our stakeholders,” continued Mr Lee. “I would like to thank Liew for his leadership at IJM over the years and will work closely with him during the transition period.”
Mr Tan added, “On behalf of IJM’s board of directors, I would like to convey our sincere thanks to Liew for his 34 years of outstanding service to the company, which included various leadership roles as project director, operations director and managing director of the group’s construction division before being appointed group CEO and MD in August 2019.
“Liew’s strategic focus of ‘Build Resilience, Drive Growth, Nurture Capabilities’, especially during the unprecedented Covid-19 crisis, resulted in the group’s improved financial performance and position, the realignment of the group’s core businesses and the strengthening of succession pipelines. I wish him all the best in his retirement.”
Mr Liew commented, “After a long and rewarding career at IJM, I have informed the board of my decision to retire. It has been a privilege to serve as IJM’s group CEO and MD and I am grateful for the many opportunities and experiences I have had throughout my career.
“I want to thank our clients, partners, employees, shareholders, and the board for their support over the past 34 years. I wish to congratulate Lee on his appointment and I am confident that the IJM team with Lee at the helm will take the company to greater heights.”