Former police chief Razarudin assumes position as non-executive chairman at Classita Holdings
Classita, formerly known as Caely Holdings Bhd, has announced a significant change in direction, moving towards socially responsible development with a focus on purpose-driven projects that support public servants and align with Malaysia's MADANI framework.
In a statement, the company revealed its new strategy, which combines housing projects with large infrastructure development and governance improvements. Key recent developments include:
- The appointment of former police inspector-general Tan Sri Razarudin Husain as non-executive chairman. Razarudin's insight into public servants' challenges underpins Classita's social responsibility focus.
- A proposal to develop affordable residential housing dedicated to police personnel and their families on Classita’s Ulu Kelang land, through a collaboration with Koperasi Polis Diraja Malaysia (KPDRM). This project aims to address the welfare and housing needs of police officers.
- Active involvement in large-scale infrastructure projects, particularly the MRT3 System Project, through a strategic collaboration with Lion Pacific Sdn Bhd.
- The ongoing Perumahan Penjawat Awam Malaysia (PPAM) affordable housing project on Ulu Kelang land, targeting civil servants and complementing national housing goals.
Financially, Classita is well positioned with solid cash reserves and low gearing, augmented by NexG Bhd’s recent acquisition of a 32.6% stake. This acquisition brings in capital and governance support to accelerate Classita’s growth and transformation agenda in Malaysia’s expanding public infrastructure and housing sectors.
Ng Keok Chai, the former executive chairman of Classita, has been redesignated as executive director, overseeing project execution and business development under the new direction. The announcement regarding the redesignation of Ng Keok Chai and the focus on socially responsible development was made in the same statement by Classita.
The proposed residential development by Classita is not specific to its acquisition by NexG Bhd, as it was already in the works prior to the acquisition. Razarudin, in a statement, emphasized that the proposed residential development by Classita creates a win-win solution, benefiting police personnel and their families while aligning with socially responsible development.
Classita's proposed project aligns with both MADANI-aligned development and its shift towards socially responsible development. The company has committed to public-interest aligned development and stronger governance. The project, located on its Ulu Kelang land, aims to uplift communities by improving access to dignified housing and supporting sustainable infrastructure growth.
Razarudin, in a statement, further emphasized that the proposed residential development by Classita is not about property but about purpose, aiming to uplift the lives of those who serve the nation while aligning with meaningful, socially-driven development. The company's future plans focus on such developments that combine affordable housing for public servants with participation in national infrastructure projects.
- Given the shift towards socially responsible development by Classita, the appointment of Tan Sri Razarudin Husain as non-executive chairman is strategic, as his insight into public servants' challenges can help guide purpose-driven business and finance decisions.
- In line with its socially responsible development focus, Classita is planning to develop affordable residential housing on its Ulu Kelang land for police personnel and their families, demonstrating a commitment to enhancing the welfare and accommodation needs of the public sector workforce.
