Magma Group Berhad, a dynamic investment holding and hospitality group, has announced a significant leadership transition. Dato’ Seri Ismail @ Farouk Bin Abdullah has stepped down as Executive Chairman, with Dato’ Sri Lee Hock Seng, the current Deputy Executive Chairman, taking over the position. This transition is a carefully planned succession that highlights the Group’s commitment to continuity and strong leadership. Dato’ Seri Ismail @ Farouk Bin Abdullah is confident that Dato’ Sri Lee Hock Seng is the right person to guide Magma through future challenges and opportunities, ensuring the Group’s continued and sustainable growth.
Dato’ Sri Lee Hock Seng, Executive Chairman of Magma, expressed his deep honor to take on the role of Executive Chairman at such a pivotal time for Magma and is committed to building on the strong foundation and leading Magma into a future rich with opportunity and growth. Dato’ Sri Thomas Liang Chee Fong, Group Managing Director of Magma, congratulated both gentlemen and expressed his hope for a stronger alliance at the helm of Magma.
Magma remains dedicated to upholding strong corporate governance and ethical business practices under the new leadership, believing this new chapter will enable it to further strengthen its market position and enhance its contributions to the economic and social landscapes.