Business Growth and Expansion
Hezal Ahmad
Vice President Business Development & Corporate Finance
Kuala Lumpur,Federal Territory
Summary
Accomplished senior executive with extensive experience in corporate strategy, investment management, and business transformation across diverse industries, including plantation, aviation, food and beverage, and technology. Proven expertise in conceptualizing and executing high-impact business strategies that drive operational efficiency and deliver sustained growth in global markets such as Malaysia, India, Turkey, and Southeast Asia. Recognized for visionary leadership and a results-oriented approach, complemented by strong stakeholder management skills. A highly skilled corporate financier with a successful track record in strategic planning, financial management, and team development, committed to identifying opportunities and implementing innovative business strategies while remaining current with the latest trends and best practices.
Overview
30
30
years of professional experience
Work History
Vice President – Head of Business Development & Corporate Finance – Group Strategy Division
FGV Holdings Berhad
12.2019 - Current
- Spearheaded business initiatives and M&A activities – divestment and investment, achieving significant milestones:
- Divestments – Non Core and Non Performance Business
- Led the divestment of non-core and non-performing assets worth RM838.3 million, including PT Citra Niaga Perkasa, PT Temila Agro Abadi, Nilai Education, FGVCO China, Trurich, and CNS.
- Secured a binding offer of RM125 million for the disposal of Asia Plantations Limited, reducing yearly financial leakage by RM25 million in 2019. Securing an additional binding offer of RM130 million with waiver for perfecting the estate land title in 2024.
- Secured Nilai Education’s binding offer of RM50 million versus acquisition value of RM31.7 million with 58% ROI.
- Successful fully divested PT Citra Niaga Perkasa and PT Temila Agro Abadi (RM115 million vs RM78 million valuation, negotiated for higher prices from initial RM100 million) in 2023 and full completion within 3 months upon signing CSPA (shortest M&A completion in Indonesia – confirmed by Messrs Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie International), strengthening FGV’s RSPO position.
- Successfully timely negotiated to divest FGVCO China in 2019 (Covid) and Trurich by securing Lembaga Tabung Haji’s approval (without it, FGV needs to consolidate Trurich’s balance sheet which the Group could incur a potential financial loss of RM700m), avoiding financial losses and ensuring a net profit of RM146.16 million for FY2020.
- Divested Trurich Resources Sdn Bhd's Indonesia assets for USD102 million in August 2022 via signing CSPA with PT Karya Teknik Agri.
- Negotiated and advised on the potential divestment of MSM Johor Plant for RM1 billion, securing a buyer from Grand Industrial Holding Co. Ltd, China.
- Strategic Business Development – Key Projects
- Logistics Support Business Expansion plan – RM500m to turn FJB into the World’s largest edible and renewable storage.
- Biofuel and Renewable Energy (2024) – Energy crops i.e. Super Chinese bamboo (2 years) and eucalyptus tree (5 years) and EFB pallet processing centre in Jengka, to turnaround FTJ Bio.
- Project N (2024) – Proposal to acquire Navigacion Sdn Bhd (RM50m-RM80m), a logistics company involved in O&G activities, for Logistics Support Business Sector’s external business expansion.
- Project 3IK (2024) – expanding FJB storage capacity in Tg Langsat Port (TLP), Johor as TLP will be turned into a 3rd port in Johor.
- Project Trolak (2024) – Rationalisation of mill by consolidating Trolak mill to Besaut mill, increase efficiency and UF of mill.
- Project Artic (2024) – Proposal to acquire a cold chain logistics warehousing and distribution company (RM120m) in Penang to expand logistics footprint in Northern region while complementing consumer product distribution opportunities.
- Kuala Muda Estate (2023) – 50% owned by FGV, investment evaluation for a higher value investment proposition as it is closed to Kulim Industrial Park i.e. Corporate Green Power Program (selling electricity to users using the existing grid infrastructure).
- Project Papyrus (2019) – Proposal for a JV (RM400m) to develop EFB paper pulp with Lee & Man Paper Manufacturing Co. Ltd, increasing the value of EFB from RM12-RM15/mt to RM1,500-RM1,600/mt.
- Project Polar Bear (2019) – Proposal to acquire 80% stake (RM48m) in Gerimis Baiduri, a cold chain logistics company with profit guarantees.
- Project Tikka (2019) – Proposal to acquire 50% interest (RM155m-RM231m) in FGV Iffco from IFFCO Group, with projected upside earnings of RM55 million.
- Project Diamond (2018) – Value creation via proposal to list of Logistics Business i.e. FGV Transport Services Sdn Bhd, FGV Johore Bulkers Sdn Bhd (FJB) and FWQ Enterprise (Port Qasim, Pakistan) – One Belt One Road Initiative.
Head of Investment & Corporate Finance – Group Investment Department
FGV Holdings Berhad
02.2018 - 12.2019
- Spearheaded business initiatives and M&A activities – divestment and investment, achieving significant milestones:
- Divestments – Non Core and Non Performance Business
- Led the divestment of non-core and non-performing assets worth RM838.3 million, including PT Citra Niaga Perkasa, PT Temila Agro Abadi, Nilai Education, FGVCO China, Trurich, and CNS.
- Secured a binding offer of RM125 million for the disposal of Asia Plantations Limited, reducing yearly financial leakage by RM25 million in 2019. Securing an additional binding offer of RM130 million with waiver for perfecting the estate land title in 2024.
- Secured Nilai Education’s binding offer of RM50 million versus acquisition value of RM31.7 million with 58% ROI.
Head of Strategy & Business Development, Trading, Marketing, Logistics & Others Cluster Sector
FGV Holdings Berhad
11.2016 - 01.2018
- Strategic Leadership: Oversaw strategic planning for the organization, leading to the restructuring and alignment of core business units with the company’s long-term goals.
- Initiated and led Project Diamond, a proposal for the listing of the logistics business with a market capitalization of over RM4.2 billion (2025) from RM800 million (2017).
- Strengthened the Logistics Cluster’s Dupont Return on Equity (ROE), achieving 12.8% in 2018, surpassing the industry benchmark of 11.4%.
- Developed and executed cross business strategies for diverse sectors, including logistics, ICT, engineering, and security services, resulting in significant revenue growth and market expansion.
- Proposed acquisition of 10 acres land in Tg Langsat Port JV with Afico Terminal Services Sdn Bhd to develop as an O&G and general warehousing.
- Successfully implemented a strategy for diversification, increasing external business contributions and improving profitability across multiple sectors.
General Manager - Overseas Ventures
Malaysia Airports Holdings Berhad
03.2012 - 10.2016
- Led for international airport investment opportunities with main objective to drive traffic growth to KLIA and diversifying global’s earnings. Managed airport overseas investments and ensured compliance with regulatory frameworks. The world’s only foreign airport operator in owning and operating 100% ISG Sabiha Istanbul Airport.
- Successfully won tender for joint acquisition and operating to rehabilitate and redevelop Delhi & Hyderabad Airports (India) with GMR India.
- Initiated and led major brownfield airport acquisition – Project Beryl (Bangalore Airport) in India worth US$450 million.
- Developed strategic initiatives for global airport investments, including acquisition of ISG Sabiha Istanbul Airport (Turkey) from GMR India and Limak Turkey, becoming the first 100% foreign owned operating airport in Turkey.
- Spearheaded major acquisitions, including a €225 million acquisition of ISG Sabiha Turkey.
- Initiated MAHB’s largest international investment in ISG Sabiha Airport, achieving 60% majority ownership.
- Proposed and executed the €500 million refinancing plan for ISG Istanbul Airport, saving €30 million interest annually.
- Initiated and led the privatisation of Cebu-Mactan Airport in Philippines with First Philippines Holdings Group including preparation of the MOU partnership, technical and financial bids and obtained board’s approval to bid up to PHP14 billion peso (US$320 million) with IRR of 15%.
Chief Executive Officer
KFC India
07.2008 - 03.2012
- Strategized entry into the India complicated consumer market through developing integrated logistics supply chains, positioning KFC as a significant brand player in one of the world’s largest consumer markets.
- Established the first KFC’s business operations in India after 10-year KFC brand exiting the Indian market following local hostility situation against foreign food company.
- Set-up two companies in India (Hotel license – allowed 100% foreign ownership) via Mauritius under the double taxation avoidance agreement as to minimise tax impact and part of exit plan.
- Expanded KFC brand via outlets from zero, generating $2.1 million in revenue within the first year and targeting $7.9 million for 2011.
- Implemented ERP systems for operational efficiency and ensured compliance with Halal certification.
- Successfully opened and managed 7 KFC outlets in the first year and planned 15 additional outlets by 2011.
Head of Corporate Planning
KFC Holdings (Malaysia) Berhad – Secondment from Yum! Brands
06.2006 - 07.2008
- Directed corporate strategic planning for KFC and QSR Brands – the only integrated quick service restaurant in the world, leading initiatives to achieve 13% average annual earnings growth.
- Developed 5-year Group Strategic Planning (2008-2012 and 2009-2013) through 5 key business strategies - Exceeded target by 6%, FYE 2008 Actual Profit Before Tax was RM167 mil versus RM157 mil ; Exceeded by 11% FYE 2009 Actual Profit Before Tax was RM190 mil versus RM171 mil ; Exceeded by 21% FYE 2010 Actual Profit Before Tax was RM222 mil versus RM183 mil.
- Proposed F&B business expansion into India, and South East Asia markets securing board approvals and Yum! Restaurants International support.
- Expanded KFC outlets in Malaysia from 368 to 475 in 3 years.
- Franchisee of the Year Award (2008 & 2009) by Yum! Brands and for Ayamas – Best Brand Award by Brand Laureate (2008 & 2009).
Senior Consultant / Corporate Finance Manager
HRM Arthur Andersen Business Consulting
03.2002 - 05.2006
- Provided advisory services for corporate strategy, business intelligence, and financial analysis.
- Delivered successful projects for major corporations, including CCM and Perodua, leading to improved profitability and operational efficiency.
- Led CCM’s diversification into pharmaceuticals, boosting revenue by 11.2% in 2005.
- Streamlined Perodua’s manufacturing and sales processes, increasing sales by 14.7% in 2005 - Perodua Sales Sdn Bhd – realigning business process between manufacturing divisions, Perodua Manufacturing Sdn Bhd (PMSB) and Perodua Engine Manufacturing Sdn Bhd (PEMSB) with Perodua Sales Sdn Bhd (PSSB).
Technology Business Financial Consultant
Hewlett Packard Asia Pacific - Singapore
03.2000 - 03.2002
- Conducted feasibility studies and financial modelling for IT projects across Southeast Asia.
- Turned around a $25 million education project in Thailand, achieving 6.5% ROI within the first year of recovery - recovering the US$25 mil debt from Thailand’s Ministry of Education via future undertaking IT infrastructure project under the Ministry of Commence for the automotive city, Rayong which was worth more than US$ 45 million. Leveraging on Free Trade Agreements and Asia Free Trade Agreement to build HP business foundation in Rayong with first client was General Motor.
- Received a Staff Award Notification Year 2000/2001 by Hewlett-Packard Company, US for contributing in achieving HP’s ambitious goals to reinvent the company from the Chairman, President and CEO of HP, Miss Carleton S. Fiorina.
Assistant Manager – Corporate Finance
Malaysian International Merchant Bankers Bhd / BZW Capital Asia
06.1995 - 03.2000
- Played a critical role in equity market transactions (M&A), raising capital exercise for major IPOs like YTL Power International Bhd, Litrak Holdings Bhd and Unisem (M) Bhd.
- Successfully navigated challenging financial climates to secure funding and support for clients.
Education
Bachelor’s Degree - Finance
UiTM & Ohio University
01.1994
Skills
Corporate finance expertise
Affiliations
Malaysia-Japan Economic Association (MAJECA)
Interests
Timeline
Vice President – Head of Business Development & Corporate Finance – Group Strategy Division
FGV Holdings Berhad
12.2019 - Current
Head of Investment & Corporate Finance – Group Investment Department
FGV Holdings Berhad
02.2018 - 12.2019
Head of Strategy & Business Development, Trading, Marketing, Logistics & Others Cluster Sector
FGV Holdings Berhad
11.2016 - 01.2018
General Manager - Overseas Ventures
Malaysia Airports Holdings Berhad
03.2012 - 10.2016
Chief Executive Officer
KFC India
07.2008 - 03.2012
Head of Corporate Planning
KFC Holdings (Malaysia) Berhad – Secondment from Yum! Brands
06.2006 - 07.2008
Senior Consultant / Corporate Finance Manager
HRM Arthur Andersen Business Consulting
03.2002 - 05.2006
Technology Business Financial Consultant
Hewlett Packard Asia Pacific - Singapore
03.2000 - 03.2002
Assistant Manager – Corporate Finance
Malaysian International Merchant Bankers Bhd / BZW Capital Asia
06.1995 - 03.2000
Bachelor’s Degree - Finance
UiTM & Ohio University