The former Khazanah Nasional Bhd executive director of investments succeeds Noorazman Abdul Aziz, who stepped down due to a “planned retirement”, the property developer said in a filing with Bursa Malaysia today.

Meanwhile, Khazanah senior vice-president of investments Reagan Chan has been made a non-independent director of UEM Sunrise.

The company also said that Effizal Faiz Zulkifly resigned as non-independent director under “a process of rotation based on the directive of Khazanah”.

National sovereign wealth fund Khazanah is the parent company of UEM Group Bhd, which is the majority shareholder of UEM Sunrise.

In a press statement, UEM Sunrise said Hisham has been Khazanah’s executive director of investments since April 2011 and was entrusted with a mandate to invest in more than 10 countries worldwide.

“Formerly chairman of the board of UDA Holdings Bhd and BBCC Development Sdn Bhd, the developer of Bukit Bintang City Centre, Hisham has also previously served on the board of Iskandar Investment Bhd, Sunway Iskandar Sdn Bhd and Southern Marina Development Sdn Bhd,” the developer said.

Meanwhile, Chan oversees Khazanah’s real assets and property portfolio, which includes the Iskandar Malaysia development, and technology portfolios, among others.

UEM Sunrise expressed its gratitude to former chairman Noorazman, who it said has been instrumental in spearheading the group’s three-phase strategic turnaround plan among other significant targets and sustainable initiatives.

“He led UEM Sunrise during the economic uncertainty wrought by the Covid-19 crisis, in which he aided the group in returning to the black for the 2022 financial year,” it added.