New chairmanship at helm of FRF and MASB as of 1st July 2021


Kuala Lumpur, 1st July 2021

The Minister of Finance Malaysia, YB Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz has appointed Dato’ Zainal Abidin Putih as Chairman of the Financial Reporting Foundation (FRF) with effect from 1st July 2021. He replaced Tan Sri Azlan Zainol whose term as Chairman of FRF ended on 30th June 2021.

On assuming the role, Dato’ Zainal said “I feel very privileged to take on this role at such a challenging time for our profession. I am indeed very grateful for the trust by the Minister of Finance for this appointment, and after leaving the MASB as chairman 12 years ago, it certainly feels good to be back. I will do my utmost to steer the FRF to continue to be effective in its oversight function and in providing advisory support to the MASB. I know I have big footsteps to follow that Tan Sri Azlan has left after 6 years of illustrious leadership of the FRF.”

Dato’ Zainal is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), a Member of the Malaysian Institute of Certified Public Accountants (MICPA) and a Member of the Malaysian Institute of Accountants (MIA). He has more than 45 years of experience in various capacities in the corporate sector and was Chairman of CIMB Bank Berhad until his retirement in April 2020. He is currently Chairman of Land and General Berhad, Touch ‘n Go Sdn Bhd and Tokio Marine Insurans (Malaysia) Berhad. He also sits on the boards of Khazanah Nasional Berhad, Petron Malaysia Refining & Marketing Berhad, as well as the boards of several private limited companies.

In welcoming his successor, Tan Sri Azlan said, “I am confident that Dato Zainal’s extensive experience in the corporate world and his past experience as MASB chairman together with his vision, dedication, and passion, would continue to bring the FRF and MASB to a higher level. Equally, I believe Datuk Nasir who is no stranger to the corporate world and now the chairman of MASB would certainly help to bring further success to the FRF and MASB”.

The Malaysian Accounting Standards Board (MASB) welcomes Datuk Mohd Nasir Ahmad as the new Chairman of MASB with effect from 1st May 2021. Datuk Mohd Nasir took over from Encik Mohamed Raslan Abdul Rahman whose term ended on 30th April 2021. The appointment, which is for a three-year term, was made by the Minister of Finance in accordance with the provisions of the Financial Reporting Act 1997.

Datuk Mohd Nasir is a Past President of the Malaysian Institute of Accountants and currently Chairman of CIMB Group Holdings Berhad. He has vast experience in the areas of leadership, management, finance and accounting which spans over 40 years. He also currently serves as Chairman for CIMB Bank Berhad and CIMB Bank PLC (Cambodia). Datuk Mohd Nasir is also a director of Prokhas Sdn Bhd, besides being a Trustee of Yayasan Canselor UNITEN, Perdana Leadership Foundation and CIMB Foundation.

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For media enquiries, please contact:

Ms. Tan Bee Leng
Executive Director
Financial Reporting Foundation
Malaysian Accounting Standards Board
Tel:   03-2273 3100
Fax: 03-2273 9400
E-mail: beeleng@masb.org.my

 

About the Financial Reporting Foundation and the Malaysian Accounting Standards Board

The Financial Reporting Foundation (FRF) and Malaysian Accounting Standards Board (MASB) were established under the Financial Reporting Act 1997 (FRA 1997). 

FRF has the responsibility for the oversight of MASB's performance, financial and funding arrangements. MASB, on the other hand, has the sole responsibility to develop and issue approved accounting standards for application in Malaysia. The MASB mission is to develop and promote high quality accounting and reporting standards that are consistent with international best practice for the benefit of users, preparers, auditors and the public.

FRF comprises twelve members, including ex-officio members representing the Ministry of Finance, Bank Negara Malaysia, Securities Commission Malaysia, Audit Oversight Board, Registrar of Companies, Bursa Malaysia, Malaysian Institute of Accountants and Malaysian Accounting Standards Board. All members are appointed by the Minister of Finance. MASB comprises eight members, all appointed by the Minister of Finance. There are also three advisors to the MASB, namely from the Securities Commission Malaysia, Bank Negara Malaysia and Registrar of Companies.