KUALA LUMPUR, 2 September 2025 – APB Resources Berhad (KLSE: 5568), a leading specialist in the design and fabrication of process equipment for the petrochemical, oleochemical, oil & gas, and power industries, has entered a transformative new chapter following a management buyout (MBO) led by three of its long-serving senior executives.
Through Strategic A Holdings Sdn. Bhd., the trio—Mr. Ong Kok Wah, Ms. Lee Lisa, and Mr. Chan Fook Wah—have collectively secured an indirect equity stake of 27.9% in APB as of 29 August 2025. The acquisition marks a pivotal shift in the Group’s ownership structure, aligning leadership continuity with strategic shareholder commitment.
Veteran Leadership at the Helm
Mr. Ong Kok Wah, newly appointed Executive Director and Chief Executive Officer, has served APB for over 30 years. Starting his career as a Quality Control Engineer in 1993, Ong rose through the ranks to become General Manager of Amalgamated Metal Corporation (M) Sdn. Bhd. (AMC), APB’s key operating subsidiary. His technical depth and operational acumen make him a natural choice to steer the Group forward.
Joining Ong is Ms. Lee Lisa, APB’s Financial Controller, a Chartered Accountant with extensive expertise in audit, treasury management, and financial reporting. Her stewardship has been instrumental in strengthening APB’s financial governance and capital discipline.
Completing the new leadership is Mr. Chan Fook Wah, Deputy General Manager of AMC, who brings over two decades of experience in project execution and operations management. His proven track record in ensuring efficiency and timely project delivery will be crucial as APB seeks to scale operations.
Together, the leadership trio combines operational know-how, financial discipline, and strategic oversight—creating a unified management front with both ownership stakes and executive accountability.
Restoring Profitability and Building Long-Term Value
In a joint statement, the new leadership expressed their collective vision:
“We have lived and breathed APB for decades. We understand this business at every level—from operations to finance—and we see immense potential ahead. With our expertise, our client base, and our fabrication capabilities, APB has a strong foundation. Together, we are committed to restoring financial strength, sharpening execution, and positioning the Group for long-term success.”
The management buyout ensures that APB’s leadership has “skin in the game,” aligning ownership with execution strategy. For stakeholders, this signals continuity, stability, and renewed confidence in APB’s ability to navigate cyclical industry challenges while pursuing sustainable growth.
The Ledger Asia’s Take
The MBO represents more than a change in ownership—it is a vote of confidence by APB’s own executives in the Group’s turnaround potential. While APB has faced profitability headwinds in recent years, the buyout suggests that the company’s leadership sees latent value in its fabrication expertise and long-term industry demand.
With energy transition trends reshaping the oil & gas and petrochemical sectors, APB could also leverage its fabrication competencies into adjacent industries, including renewables and green energy infrastructure. For investors, the MBO provides reassurance of continuity, but the real test will lie in APB’s ability to translate leadership commitment into stronger margins, a healthier order book, and consistent returns.
