Nicolas Chen and Lam Hoi Khong will assume the co-CEO roles effective Jan 1, 2026, following the retirement of 71-year-old group CEO Patrick Yong today.

Yong, appointed as CEO in 2016, will nevertheless remain on the board and support the group as an adviser, providing strategic guidance and overseeing new projects.

In a statement today, MSC said the co-leadership model was designed to “strengthen operational effectiveness, reinforce the group’s governance and enhance strategic execution”, while ensuring continuity and sustainable growth.

Under the new leadership structure, Chen will oversee the group’s operations, corporate and institutional matters while Lam will be responsible for finance, sales and marketing, commercial issues and governance-related functions.

“The board expresses its appreciation for Yong’s dedicated service and leadership, under which the group achieved significant milestones and established a strong foundation for sustained growth,” it said.

Listed on Bursa Malaysia and the Singapore Exchange, MSC is one of the world’s largest producers of tin and tin-based products, and a global leader in custom tin smelting since 1887. It is a subsidiary of The Straits Trading Company Ltd of Singapore.

Its net profit for the third quarter ended Sept 30 (Q3 FY2025) jumped 42.7% to RM20.4 million from RM14.29 million a year ago, on higher refined and tin-bearing intermediate sales volume coupled with higher average prices.

Third quarter revenue rose 12.7% to RM529.54 million from RM470.05 million previously.

For the nine months ended Sept 30, 2025, net profit fell 14.6% to RM42.07 million from RM49.25 million a year ago, while revenue rose 2.8% to RM1.28 billion from RM1.24 billion previously.

The lower earnings for the cumulative nine-month period was attributed to higher income tax expenses.

At the time of writing, MSC shares were up 5 sen or 3.2% at RM1.61, valuing the group at RM1.34 billion. Year to date, its share price has outperformed, surging 43%.