Abdul Jalil succeeds Hamzah Bakar as Sapura Energy's chairman

KUALA LUMPUR: Sapura Energy Bhd has appointed Abdul Jalil Abdul Rasheed as its non-independent non-executive chairman, succeeding Datuk Hamzah Bakar, effective February 1.

The integrated oil and gas services provider said the board had approved Sapura Energy’s business plan, and Abdul Jalil had a discussion with the outgoing chairman to ensure a smooth transition of board leadership and drive the execution of the business plan.

Abdul Jalil had been the chief executive officer (CEO) of the South Asian operations of a US-based fund management company, Invesco in Singapore prior to joining Permodalan Nasional Bhd (PNB).

He holds a degree in accounting and finance from the London School of Economics & Political Science and started his career as a graduate trainee at Aberdeen Standard Investments in London, rising through the ranks to become Investment Manager and Head of Equities, before eventually becoming the CEO of Aberdeen Islamic Asset Management in Kuala Lumpur prior to joining Invesco in 2013.

Previously, Abdul Jalil was appointed as president and chief executive of PNB on October 1, 2019 and was subsequently appointed as non-independent non-executive director of Sapura Energy on January 1, 2020.

Sapura Energy is one of PNB’s key strategic companies, in which PNB and its associated funds collectively own a 40 per cent stake.

Meanwhile, the board had approved the appointment of Tuan Syed Ali Syed Salem Alsagoff, a nominee director of PNB, as non-independent non-executive director of Sapura Energy effective, February 1.

Tuan Syed Ali was a senior global and key account manager at Baker Hughes Malaysia. Earlier in his career, he had worked in various capacities in fields that include auditing, asset management and logistics.

Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin said the company looks forward to Abdul Jalil bringing fresh ideas, deep capital markets knowledge and a varied set of competencies in helming the Board and enhancing its deliberations.

“His background and wealth of experience will be instrumental in steering Sapura Energy into a bright future. We have full confidence in him and his ability to take the company into its next exciting chapter of growth,” he said in a statement today.

Shahril said Tuan Syed Ali’s experience in oil and gas industry is a great addition to the current skills set of Sapura Energy’s board and look forward to working with him.

“We would also like to put on record our appreciation to PNB for its long-term commitment and trust in Sapura Energy,” he said.

Shahril said the company Hamzah’s vast experience, wise counsel and passion for excellence had guided Sapura Energy through challenging times and various corporate exercises.

“As a judicious steward of Sapura Energy, he has been integral to our accomplishments,” he said.

Hamzah has had a long relationship with Sapura, going back to 4 July 2003 when he was appointed as a Board member of SapuraCrest Petroleum. On 9 December 2011, he joined the Board of Sapura Energy as chairman.

Following the change in the chairmanship of the board, Abdul Jalil will be the chairman of the Board Remuneration Committee, taking over from Hamzah.

Datuk Ramlan Abdul Rashid will succeed Hamzah as chairman of the Long-term incentive plan committee while Datuk Muhamad Noor Hamid will replace Hamzah as a member of the Board Nomination Committee.