KUALA LUMPUR (March 31): Tan Sri Mohd Annuar Zaini has been appointed as the new chairman of Steel Hawk Bhd (KL:HAWK), replacing former inspector general of police (IGP) Tan Sri Acryl Sani Abdullah Sani, who held the post for more than two years.

In a filing with Bursa Malaysia on Tuesday, Steel Hawk said Acryl has stepped down as the independent non-executive chairman of the oil and gas services provider to “pursue other commitments”. He was appointed to the Steel Hawk board in October 2023.

Mohd Annuar, who also serves as the independent non-executive chairman of 7-Eleven Malaysia Holdings Bhd (KL:SEM), will take over the position effective April 1.

Mohd Annuar, 74, began his career as an administrative and diplomatic officer in 1977, serving in various federal ministries and the Perak government before taking optional retirement in 1999.

He has held key corporate and government roles, including as an executive director of Berjaya Corporation Bhd (KL:BJCORP) (2001-2004), chairman of Bernama (2004-2010), and adviser and chief executive officer of the Northern Corridor Implementation Authority (2007-2009), as well as board positions at Malaysian Airline System Bhd, PLUS Expressway Bhd, Tropicana Corp Bhd (KL:TROP), University of Malaya, International University of Malaya-Wales, and Manulife Holdings Bhd (KL:MANULFE).

Mohd Annuar currently also chairs UDA Holdings Bhd, BBCC Development Sdn Bhd, MRCB Land Sdn Bhd, Ipoh Sentral Development Sdn Bhd, Country Annex Sdn Bhd, Metropolitan Utilities Corporation Sdn Bhd, and Ekowood International Bhd.

He is also a pro-chancellor of Universiti Malaya, senior adviser of international affairs at the Malaysian Communications and Multimedia Commission (MCMC), and a board member of the Social Security Organisation (Socso).

Steel Hawk, which transferred its listing from the LEAP Market to the ACE Market of Bursa Malaysia in September 2024, closed its financial year ended Dec 31, 2025 (FY2025) with an earnings increase of more than 8%.

Full-year net profit stood at RM13.7 million, up from RM12.7 million a year earlier, supported by higher revenue but partially offset by increased overheads.

Revenue jumped nearly 56% to RM122.3 million from RM78.4 million, driven by stronger project execution and revenue recognition.

According to AskEdge, Steel Hawk currently trades at a price-earnings multiple of 10.7 times, the second-lowest among peers, and a price-to-net asset value of 2.4 times, the highest in the group.

Shares in Steel Hawk closed half a sen, or 2%, higher at 26 sen on Tuesday, giving the group a market capitalisation of RM127.5 million.