KUALA LUMPUR (Nov 18): MPHB Capital Bhd, a general insurance provider, has appointed its existing chief operating officer (COO) Kheoh And Yeng as its new chief executive officer.

In a filing with Bursa Malaysia today, MPHB said the appointment is effective today after Kheoh, 59, relinquished her COO position yesterday (Nov 17). She assumed the COO office on May 14, 2013.

Before MPHB, Kheoh joined Magnum Bhd as general manager in 2002 and was subsequently promoted to senior general manager in 2003 before assuming the COO position on Jan 1, 2007 until May 13, 2013.

"Kheoh was a senior manager at Hong Leong Bank Bhd before joining Magnum and throughout her 12 years of banking experience, she was principally involved in various divisions primarily in retail loan collection and deposit marketing, having to work through all the branches, corporate loan, deposit marketing and credit card operations," MPHB said.

In a separate filing, MPHB said its substantial shareholder Tan Sri Surin Upatkoon, on the other hand, is appointed as non-independent and non-executive director, effective today.

According to the group's previous filing, Upatkoon, 67, stepped down as managing director in September this year.

His resignation was meant to comply with Bank Negara Malaysia's Policy Document on Corporate Governance which provides that there must be a clear separation between substantial shareholder and the management, the filing read.

MPHB closed one sen or 0.75% higher at RM1.35 today, giving it a market capitalisation of RM965.25 million.