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KUALA LUMPUR (March 3): Shangri-La Hotels (M) Bhd announced that managing director Christopher Phong Siew San will resign, effective March 31, according to a bourse filing on Monday.
He helmed the group for over two years, since his appointment as managing director back on March 1, 2024.
“The board would like to record its sincere thanks and appreciation to Phong for his contribution to the group and wishes him well for the future,” it said.
No successor was named, but Shangri-La Hotels noted it is working towards implementing “a smooth and orderly” leadership succession.
Shangri-La Hotels’ net profit for 2025 rose 41% to RM41.43 million, boosted by stronger earnings from Rasa Ria and Rasa Sayang resorts, lower interest expenses, and smaller losses from associates.
Shangri-La Hotels is trading at a price-to-earnings ratio of 26.2 times, below its recent historical levels but higher than most peers. Its price-to-net asset value ratio of 1.1 times is below its peers and recent averages.
Shares in Shangri-La Hotels ended five sen or 2.63% lower at RM1.85, valuing the company at RM814 million.
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