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Malaysia's Petronas Dagangan appoints new chief
August 16, 2012 / 11:11 AM / 5 years ago

Malaysia's Petronas Dagangan appoints new chief

KUALA LUMPUR, Aug 16 (Reuters) - Petronas Dagangan Bhd (PDB) , the retail arm of Malaysia’s state oil firm Petronas , said on Thursday it had appointed Aminul Rashid Mohd Zamzam as managing director and chief executive officer, starting next month.

The appointment comes two months after the country’s largest marketer of downstream petroleum products by market share said it will buy six downstream companies belonging to Petronas in the Philippines, Vietnam, Thailand and Malaysia in a deal worth 197.3 million Malaysian ringgit ($63.2 million).

Aminul, Petronas Dagangan’s current chief operating officer, will replace Amir Hamzah Azizan, who will remain as vice president of downstream marketing at Petronas and on the board of Petronas Dagangan.

Meanwhile, Petronas Dagangan said it posted a net profit of 171.33 million ringgit ($54.8 million) in its second quarter to June 30, 2012, a 17.9 percent drop from the same quarter a year earlier on lower profit margin. ($1 = 3.1245 Malaysian ringgits) (Reporting by Yantoultra Ngui; Editing by David Holmes)

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