The news of being replaced is not true. Zhong Jiwei continues to lead the ShiDa Group.
The news of being replaced is not true. Zhong Jiwei continues to lead the ShiDa Group.
Local media shocked this morning with news that Sida Group $SPSETIA (8664.MY)$ President and CEO Datuk Zhong Jiwei was rumored to be replaced this morning, but the group quickly clarified that Zhong Jiwei will continue to serve as the leader of the group, and the news of personnel changes is untrue.
The New Straits Times quoted sources this morning as saying that the National Investment Agency (PNB) will announce Zhong Jiwei's resignation this week in order to inject new vitality into Sida Group.
In response, Sida Group clarified in a statement that Zhong Jiwei will continue to serve as the President and CEO of the group, bringing valuable leadership and experience to the group.
"Sida Group is still committed to carrying out various strategic plans proposed under the guidance of Zhong Jiwei. We also hope that he can continue to contribute to the group's pursuit of growth and providing value to all stakeholders in the future."
Chong Jiwei, who has more than 30 years of solid experience in industrial development and construction industry, took over as the helm of Sida Group from Datuk Hooi Keat on October 1, 2021.
Now is a crucial moment for Sida Group to launch several new strategies, including developing an industrial park in Johor that may include a datacenter, launching a real estate investment trust (REIT) worth 1.5 billion ringgit, and expanding urban projects.
Zhang Jiwei announced in June that Sida Group has begun preparations for the initial public offering (IPO) related to the establishment of a real estate investment trust (REIT). The REIT will include retail malls, office buildings, schools, and an exhibition center.
The stock price once dropped by over 5%.
Sida Group has recently been experiencing ups and downs, with the stock price plummeting due to poor latest performance. Rumors of leadership changes surfaced today, although quickly debunked, the investment sentiment for the stock is still affected.
Sida Group slipped to 1.23 ringgit in the morning session, down 7 cents or 5.38%.
Losses widen at Batu Gajah project.
Last week, Sida Group announced that losses at the Batu Gajah power plant project unexpectedly widened, affecting both the company and its joint venture partner, Sunway Properties. $SIMEPROP (5288.MY)$ 股价首当其冲，并引发产业股的套利浪潮。
不过，在分析员与管理层会面后得知，认为这仅是集团在账目上采取审慎措施的结果，公司未来展望仍受看好。
管理层当时解释，尽管英国的入住率和租金率正在改善，但仍然采取了慎重态度看待当地业务前景，把19 million英镑（0.106 billion令吉）租金担保的缺口，认列在当季业绩中，从而使最新业绩表现惨淡。
无论如何，分析员认为在土地销售下，盈利前景依旧强劲，加上数据中心业务等利好因素，实达集团的后市依旧可期。
Source: Nanyang Business Report
Disclaimer: This content is for reference and educational purposes only and does not constitute any specific investment, investment strategy, or endorsement. Readers should assume any risks and liabilities resulting from reliance on this content. Before making any investment decisions, please conduct your own independent research and evaluation, and consult with professionals as necessary. The author and related participants are not responsible for any losses or damages caused by the use or reliance on the information contained in this article.
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幸运人9118 : Got enough tickets and came out to clarify