KUALA LUMPUR (Jan 2): Salcon Bhd has appointed businessman Tan Sri Abdul Rashid Abdul Manaf as its new chairman effective today.

In a filing with Bursa Malaysia today, Salcon said that Abdul Rashid is the founder director of Eco World Development Group Bhd and is also presently the group chairman of Cahya Mata Sarawak Bhd.

Before venturing into business, Abdul Rashid was a senior partner in a legal firm in Kuala Lumpur until his retirement in August 2006.

He was also the chairman of the board of S P Setia Bhd from 1996 until 2012.

Salcon closed down 0.5 sen or 2.13% to 23 sen for a market capitalisation of RM188.58 million.