KUALA LUMPUR (Oct 1): Plenitude Bhd (KL:PLENITU) has appointed chief financial officer (CFO) Ang Kooi Yong as its new chief executive officer, effective immediately.

Ang, 58, is succeeding Lee Wee Kee, 59, who resigned on Monday (Sept 30) due to personal reasons after serving as group CEO for 19 months.

Prior to joining Plenitude, Ang held various senior management positions in finance at both private and public listed companies. She holds a Bachelor of Accounting from the University of Malaya, and is a member of the Malaysian Institute of Accountants as well as the Malaysian Institute of Certified Public Accountants.

She has more than 32 years of experience in accounting, treasury, corporate finance, and strategic planning across the manufacturing, property, and construction sectors.

Plenitude recently reported a 94% decline in its fourth-quarter net profit for the financial year ended June 30, 2024 (4QFY2024) to RM1.38 million from RM22.35 million a year earlier, despite a 2% increase in revenue to RM134.35 million from RM131.16 million.

The group attributed the decline in profit to an impairment loss of RM13.9 million on assets held for sale, arising from the disposal of its indirect wholly owned subsidiary.

According to its 2023 annual report, Plenitude’s largest shareholder is Ikatan Bina Sdn Bhd, with a 32.19% stake, followed by Fields Equity Management Ltd (21.54%), and En Primeurs Sdn Bhd (5.48%).