Winds of change at MUI 

FOR a long time now, hardly anything positive has been taking place at asset rich yet loss-making group at Malayan United Industries Bhd or MUI.

MUI recorded losses amounting to RM131.7mil for FY17, on the back of RM415.1mil revenue, despite the group owning a plethora of good assets.

But on Friday, an interesting announcement was made. The company said it had appointed Andrew Khoo Boo Yeow as its new CEO. Andrew, it turns out, is a 45-year son of MUI’s owner namely Tan Sri Khoo Kay Peng. The appointment also meant that the tycoon Khoo is now elevated to the position of executive chairman, vacating the CEO position for his son.

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