Lee Yeow Seng leaves IOI Corp board to concentrate on IOI Properties
IOI Corp also appointed Datuk Yeo How to its board, while IOIPG Malaysia Real Estate Investment Trust is scheduled to list on Nov 25.
Datuk Lee Yeow Seng, 47, has resigned from IOI Corp Bhd’s board with immediate effect to devote more attention to leading IOI Properties Group Bhd, according to the company’s Nov 6 bourse filing. He served in a non-independent, non-executive capacity.
IOI Corp said the departure would allow him to concentrate on IOI Properties’ strategic priorities, citing its significant Singapore presence and his executive chairmanship of IOIPG Malaysia Real Estate Investment Trust. The trust’s Bursa Malaysia listing is scheduled for Nov 25.
Separately, IOI Corp named Datuk Yeo How as an independent, non-executive board member, effective Nov 6. Yeo is currently the lead independent non-executive director at IOI Properties.
Yeow Seng’s IOI Corp board tenure began in June 2008. He became an IOI Properties director in February 2013 and served as chief executive officer from 2014 to 2020. After becoming executive vice-chairman in 2020, he returned as group CEO in July 2023.
His elder brother, Datuk Lee Yeow Chor, leads IOI Corp as group managing director and chief executive. IOI Corp shares closed at RM4.33 on Nov 6, down nine sen or 2.04%, giving the group a market value of RM27.21 billion.
