Kuala Lumpur, 9 March 2012

Tan Sri Zarinah to retire as SC Chairman; Datuk Ranjit Ajit Singh appointed Chairman with Dato Dr Nik Ramlah as Deputy

Tan Sri Zarinah Anwar, who has been Chairman of the Securities Commission Malaysia (SC) since 2006, will retire when her term is completed on 31 March 2012.

YAB Dato’ Sri Najib Tun Abdul Razak, Prime Minister and Minister of Finance has appointed Datuk Ranjit Ajit Singh to succeed Tan Sri Zarinah as Chairman of the SC and Dato Dr Nik Ramlah Mahmood as Deputy Chief Executive. Both currently serve as Managing Directors of the SC and their new appointments take effect from 1 April 2012.

Tan Sri Zarinah has played a key role in strengthening and developing the Malaysian capital market over the past ten years, establishing a robust regulatory and governance framework which has contributed to the growth of the market, and investing resources in building regulatory capacity.

Datuk Ranjit is a highly experienced regulator with over 20 years experience in the field of finance and securities regulation. A financial economist and accountant, Datuk Ranjit has served the SC since 1994 in a variety of areas including the supervision and oversight of the market; strategy and risk management, financial policy and economics. He is the Chairman of IOSCO’s* group on secondary markets, has chaired an expert group on capital markets for a Financial Stability Board taskforce and has served as a member of the IMF’s expert group on governance of public sector agencies.

Dato Dr Nik Ramlah is trained in law and has served the SC for over 18 years covering legal and regulatory reform, product and market development, corporate governance, Islamic capital market, investor education and enforcement. Dato Dr Nik also sits on the board of SIDC**, the training and education arm of the SC. Dato Dr Nik is a core member of the OECD Asian Roundtable on Corporate Governance and is a member of the Technical Committee of the Islamic Financial Services Board (IFSB).