KUALA LUMPUR (Aug 8): Hengyuan Refining Company Bhd has appointed Zulhazmi Mohamad as acting CEO effective Tuesday (August 8), succeeding Li Bin, who steps down on the same day due to health reasons.

Notably, Li, a Singapore national, was just appointed on July 3 this year to replace Grant Gao Jin Liang.

Hengyuan told Bursa Malaysia on Tuesday that Zulhazmi joined the group in 1994, and has held multiple jobs in projects and turnaround, engineering, and maintenance over the last 25 years, including a regional turnaround role.

“He was also involved in the detailed design, construction, commissioning and start-up of the state-of-the-art Long Residue Catalytic Converter Unit project as well as the HIJAU complex for Hengyuan in Port Dickson.

“He was appointed as Hengyuan engineering senior manager from 2011 and chief projects officer in 2018. He later assumed the role the chief government relations officer in 2019 and supported the company in mediating business and operational issues through advice and identifying relevant interventions and strategies, to help resolve critical situations or disputes that involve the government, regulation and legislation,” in noted.

Shares of Hengyuan closed down 0.3% at RM3.42 on Tuesday, giving it a market value of RM1.03 billion.