KUALA LUMPUR (Feb 3): Knusford Bhd has appointed Heng Hock Lai as its new chief executive officer, effective today.

Heng, 60, will succeed Tan Teow Keat, 62, who resigned to pursue other interest, Knusford said in a filing with Bursa Malaysia.

Heng has more than 36 years of experience in the construction industry, the East Malaysia-based construction group said.

“Prior to his appointment, he joined Ekovest Group in 1992 and was appointed as general manager (construction) in 2011.

“He was involved in overseeing the overall operation, contractual and technical matters for the various phases of the Universiti Malaysia Sabah Project and EkoCheras Mixed Integrated Development,” the company added.

Knusford shares slid two sen or 2.74% to 71 sen today, giving the group a market capitalisation of RM70.75 million.