KUALA LUMPUR – Kedah Crown Princess Zaheeda Mohamad Ariff has been appointed the chairman of property developer Oriental Interest Bhd (OIB), Bursa filings show.
The appointment of the Kedah crown princess, who is the wife of the state’s Crown Prince Tengku Sarafudin Badlishah, follows the redesignation of its former chairman, Tunku Muhamad Zulkifli Osman, to an independent director.
Zulkifli was also appointed as the group’s audit and remuneration committee member, according to several of the group’s filings in Bursa Malaysia yesterday.
According to the filings, Zaheeda previously worked in the telecommunications sector for close to a decade after she completed her degree and masters in law.
She then moved her career to the water and waste industry, where she served for almost 17 years with various companies, including as the head of Indah Water’s legal department and Air Selangor’s legal and company secretarial department chief.
She was also the acting head of Air Selangor Holdings legal and corporate secretarial department until her retirement recently.
In December last year, it was reported that OIB and TTDI Land Sdn Bhd had entered into an agreement to jointly develop 54.55 acres of land in Klang into commercial and residential units.
Under the deal, OIB’s 52.5%-owned subsidiary Total Majority Sdn Bhd secured the rights to develop the project and sell the units to end-purchasers while TTDI Land, as the land owner, will be entitled to a payment of RM150 million.
In the same month, OIB also announced its plan to launch Myra Dahlia, a Malaysia civil servants housing programme (PPAM) government housing, and Rumah Selangorku affordable housing project in Salak Tinggi, Selangor this year.
The 2.76 acre project, expected to be completed by November 2027, is said to have a gross development value (GDV) of RM141.51 million and will consist of 48 Rumah Selangorku units as well as 431 PPAM units.
Other developments by OIB include Myra Impian in Nilai and Myra Cove in Cyberjaya. – March 19, 2024