AFFIN Announces Retirement of YBhg Dato' Zulkiflee Abbas. Appoints New CEO to Helm the Group

30 March 2015

Corporate Communications
| media@affinhwang.com

KUALA LUMPUR, March 30, 2015 – AFFIN Holdings Berhad (AFFIN Holdings) wishes to announce the retirement of YBhg Dato’ Zulkiflee Abbas bin Abdul Hamid effective 1 April 2015. AFFIN Holdings has obtained Bank Negara Malaysia’s approval for the appointment of Encik Kamarul Ariffin bin Mohd Jamil as its new Group Chief Executive Officer (Group CEO) of AFFIN Holdings and Managing Director/Chief Executive Officer (MD/CEO) of AFFIN Bank Berhad (AFFIN Bank).

The Board of Directors released the following statement today :-

“Spanning over 30 years of working experience in banking both locally and internationally, YBhg Dato’ Zulkiflee Abbas’s illustrious career saw him assuming dual roles in Jan 2014; as the Group CEO of AFFIN Holdings and MD/CEO of AFFIN Bank.”

YBhg Dato’ Zulkiflee Abbas was first appointed as the MD/CEO of AFFIN Bank on 1 April 2009 and under his leadership, the Group has grown in size and stature from total assets of RM36.8 billion and profit before tax and zakat (PBT) of RM404.2 million in 2008, to a staggering total assets of RM66.7 billion and PBT of RM825.3 million in 2014.

YABhg Gen (R) Dato’ Seri DiRaja Tan Sri Mohd Zahidi bin Hj. Zainuddin, Chairman of AFFIN Holdings said, “I would like to take this opportunity to convey our heartfelt gratitude and appreciation to YBhg Dato’ Zulkiflee Abbas. As the Group CEO of AFFIN Holdings and MD/CEO of AFFIN Bank, his past contributions have been invaluable and we thank him for his vision and leadership over the years. His contribution to the growth of the Group is by no means insignificant, and we would like to put on record to acknowledge his valuable insights and advice during his tenure of service.”

“We are also honoured and privileged to have the opportunity to work with him professionally and to also know him personally. All of us at AFFIN Holdings wish him the very best in his future endeavours.”

“We have always understood the importance of succession planning at AFFIN Holdings and are glad to be able to promote from within our ranks. As the new Group CEO of AFFIN Holdings and MD/CEO of AFFIN Bank, Encik Kamarul Ariffin will continue to have the strong support and backing of experienced senior management team in the Group which is still intact. The Group is confident that Encik Kamarul Ariffin’s vast expertise and strong track record will lead the Group to greater growth in the next phase of its development,” added YABhg Gen (R) Tan Sri Zahidi.

YABhg Gen (R) Tan Sri Zahidi also informed that an application has been made to Bank Negara Malaysia pertaining to Encik Kamarul Ariffin bin Mohd Jamil’s successor as CEO of AFFIN Islamic Bank Berhad.

Encik Kamarul Ariffin brings with him more than 20 years of experience in the corporate arena. En Kamarul Ariffin was previously the CEO of AFFIN Islamic Bank, rising through the ranks since he joined AFFIN Bank as the Head of Corporate Strategy in 2003. Prior to AFFIN Bank, Encik Kamarul Ariffin held leadership positions in Pengurusan Danaharta Nasional Berhad, Trenergy Malaysia Berhad and Shell Malaysia Trading Sdn Bhd.