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Malaysia securities regulator reorganises, makes key senior appointments

By Asia Asset Management  
Aug 12, 2019

Securities Commission Malaysia (SC) has undergone a reorganisation that gives Deputy Chief Executive Zainal Izlan Zainal Abidin direct oversight of the regulator’s supervision and surveillance functions.

The SC’s corporate resources business group, which will also be overseen by Mr. Zainal Izlan, gets added responsibilities under the revamp.

The restructuring also involves splitting the development and Islamic markets group into two, creation of a new cyber security department, as well as a number of key appointments.

"The reorganisation and appointments will better position the regulator to catalyse changes in the capital market ecosystem and meet evolving stakeholder needs," the SC says in a statement on August 8.

Nadiah Abdullah, formerly group head of people relations at budget airline AirAsia, has been hired as executive director of corporate resources.

She succeeds Tengku Zarina Tengku Chik, who has been appointed chief executive officer of Securities Industry Development Corporation, the SC’s training and development arm. The latter in turn succeeds Sharifatul Hanizah Said Ali, who has been named executive director of the Islamic capital market development group.

The SC has promoted Salmah Bee Mohd Mydin to executive director of the market development group, and Dr. Wong Huei Ching as director of the group.

The new cyber security department will come under the SC’s renamed digital strategy and innovation business group. It was previously called the innovation, digital and strategy group.

The reorganisation comes some nine months after prominent local lawyer Syed Zaid Albar was appointed as the SC’s chairman when his predecessor Ranjit Ajit Singh retired.

The leadership change was one of several at a number of government agencies and government-linked entities that came after a coalition of opposition parties led by Prime Minister Dr. Mahathir Mohamad won the general election last year.