KUALA LUMPUR: Gamuda Bhd managing director Datuk Lin Yun Ling said the group has started working on a succession plan while he would continue to helm the company he founded.
Describing Gamuda’s prospects as “good”, Lin is confident the group would be able to meet all “the guidance that it had given to analysts earlier”. He denied market talk that his share sale was due to any adverse changes on the group’s fundamentals or earnings prospects. “I brought up the company over the past 25 years. I certainly don’t intend to have an abrupt exit ... we will ensure that over the next five years or longer, there will be a smooth transition,” Lin told StarBiz yesterday. He said he could foresee the day Gamuda would be run by professional managers who were not shareholders. “There are two or three names who have the potential (to take over the top executive positions),” he added. Lin trimmed his stake to 1.7% from 5.2% last week. The shares were placed out to global institutional investors. Read more
Describing Gamuda’s prospects as “good”, Lin is confident the group would be able to meet all “the guidance that it had given to analysts earlier”. He denied market talk that his share sale was due to any adverse changes on the group’s fundamentals or earnings prospects. “I brought up the company over the past 25 years. I certainly don’t intend to have an abrupt exit ... we will ensure that over the next five years or longer, there will be a smooth transition,” Lin told StarBiz yesterday. He said he could foresee the day Gamuda would be run by professional managers who were not shareholders. “There are two or three names who have the potential (to take over the top executive positions),” he added. Lin trimmed his stake to 1.7% from 5.2% last week. The shares were placed out to global institutional investors. Read more
(The Star 28-2-2008)
