Abdul Wahid Omar

Abdul Wahid bin Omar
Born	1964 Johor Bahru, Johor, Malaysia
Occupation(s)	Banker, investor
Years active	1987–present
Known for	Chairman of Bursa Malaysia; Chairman of National University of Malaysia; former CEO of Maybank; former Minister in the Prime Minister's Department (Economic Planning)

Abdul Wahid bin Omar (Jawi: عبدالواحد بن عمر; born in 1964) is a prominent Malaysian banker and investor. Since May 2020, he has held the position of Chairman at Bursa Malaysia, and since November 2018, he has also been the Chairman of the National University of Malaysia (UKM).

From August 2016 until June 2018, Abdul Wahid was the Group Chairman of Permodalan Nasional Berhad (PNB), one of the largest government-linked investment firms in Malaysia. Prior to that, between June 2013 and June 2016, he served as a Senator and Minister within the Prime Minister's Department, responsible for Economic Planning. He is additionally recognized for his tenure as President & CEO of Maybank from 2008 to 2013, which stands as Malaysia's largest publicly traded company and a leading financial institution in Southeast Asia.

Among his notable corporate accomplishments are successful leadership roles in revitalizing UEM Group, Telekom Malaysia, and Maybank.

Background

Born in Johor Bahru, Johor in 1964, Abdul Wahid is the ninth child among eleven siblings. He completed his secondary schooling at MRSM Seremban between 1977 and 1981 before pursuing further education in the United Kingdom under scholarships awarded by Majlis Amanah Rakyat (MARA).

With a career spanning more than 28 years across both corporate and public sectors, Abdul Wahid has steered major entities within financial services, telecommunications, and infrastructure industries. He played a pivotal role in transforming Telekom Malaysia into a regional telecommunications group prior to its 2008 demerger involving Axiata. Additionally, he led the turnaround of UEM Group, Malaysia’s foremost infrastructure conglomerate, following its acquisition by Khazanah Nasional in 2001.

He holds fellowship status with the Association of Chartered Certified Accountants (ACCA) and is a member of both the Malaysian Institute of Accountants (MIA) and the Institute of Chartered Accountants in England & Wales (ICAEW).

1987–2001: Early Career

Abdul Wahid started his professional journey at KPMG Peat Marwick in 1987. He then moved to Bumiputra Merchant Bankers Berhad’s Corporate Banking Department from 1989 to 1991. Subsequently, he was Senior Vice President overseeing Finance, Administration & Secretarial functions at Kumpulan Fima Berhad between 1991 and 1994. From 1994 to 2001, he held roles as Director of Group Corporate Services and Divisional Director for Capital Market & Securities at Amanah Capital Partners Berhad. During this period, he also chaired Amanah Short Deposits Berhad and the Association of Discount Houses in Malaysia, while serving as Director of Amanah Merchant Bank Berhad.

2001–2004: United Engineers (Malaysia) Berhad (UEM) & UEM World Berhad

On 1 March 2001, Abdul Wahid joined Telekom Malaysia as Chief Financial Officer before being appointed managing director and CEO of UEM Group later that year in October. At that point, UEM-Renong was undergoing debt restructuring which culminated in its acquisition by Khazanah Nasional. Abdul Wahid’s approach concentrated on maximizing value from highway concessions managed by PLUS Expressways. Toll rate increments were adjusted from an annual 5% to a more moderate 3.2%, applied every three years instead. This strategy facilitated debt restructuring and paved the way for an IPO on Bursa Malaysia in July 2002. Furthermore, non-core assets were sold off to reduce liabilities.

Within two and a half years under his leadership, UEM successfully reduced its debt by half to RM16 billion, primarily consisting of project financing. The Group returned to profitability with an annual profit around RM500 million and net assets revalued at RM10 billion. Consequently, Khazanah Nasional saw its investment value double within three years, fulfilling its objectives for the takeover.

2004–2008: Telekom Malaysia Berhad (TM)

In July 2004, Abdul Wahid resumed his role as CEO of Telekom Malaysia (TM), with the objective of steering the company towards becoming a prominent telecommunications leader in the region, emphasizing mobile communications. His earlier tenure as TM’s CFO and his proven ability to drive turnarounds at UEM Group were instrumental in fulfilling this vision.

He spearheaded comprehensive reforms spanning organizational structure, corporate culture, customer experience, and operational processes. To maximize shareholder returns, TM underwent a demerger resulting in two publicly traded companies. TM International (which later became Axiata Group), comprising Celcom and other mobile assets across the region, was successfully listed on Bursa Malaysia in April 2008.

Following the separation, TM realigned its focus as Malaysia’s National High Speed Broadband (HSBB) Champion, leading the deployment of HSBB infrastructure through a Public-Private Partnership with the government. This strategic restructuring allowed Axiata Group to pursue aggressive regional expansion throughout Asia.

2008–2013: Maybank

In May 2008, Abdul Wahid assumed the position of president and CEO at Maybank, taking over from Tan Sri Amirsham Abdul Aziz who transitioned to a ministerial role overseeing the Economic Planning Unit. Before Wahid’s appointment, Maybank had completed three significant acquisitions—An Binh Bank in Vietnam, Bank International Indonesia (BII), and MCB Bank in Pakistan—amounting to approximately RM11 billion. His initial priorities involved securing equity and debt financing for these acquisitions, navigating the challenges posed by the 2008 global financial crisis, and enhancing Maybank’s financial results.

While the corporate finance division finalized these acquisitions, management launched LEAP30, a performance enhancement initiative composed of 30 targeted projects designed to restore market dominance. Within a year and a half, Maybank experienced accelerated growth in assets and deposits, improved customer satisfaction, strengthened asset quality, and achieved a record profit after tax of RM3.8 billion for FY2010. Consequently, the bank regained its status as Malaysia’s leading financial institution and most valuable company on Bursa Malaysia.

To promote long-term growth and counteract organizational fatigue, Maybank convened a "Tiger Summit" in Putrajaya involving its top 1,000 managers and leaders. This gathering formulated a renewed mission: Humanising Financial Services—delivering accessible financing with equitable terms, customer-focused guidance, and active community involvement. This mission was embraced by Maybank’s 40,000 employees throughout Asia.

Structurally, Maybank introduced the "House of Maybank" model featuring three core business pillars: Community Financial Services; Global Wholesale Banking; and Insurance & Takaful. Islamic Financial Services and International Operations were integrated across these pillars. Guided by this framework and revitalized mission, Maybank maintained its position as Malaysia’s premier bank while expanding its presence as a leading regional banking group across all ten ASEAN nations.

2013–2016: Minister in the Prime Minister's Department

On 5 June 2013, Abdul Wahid was appointed Minister in the Prime Minister's Department with responsibility for Economic Planning. His portfolio included oversight of key agencies such as the Economic Planning Unit, Public-Private Partnership Unit (UKAS), Department of Statistics, Ekuiti Nasional Berhad (EKUINAS), Talent Corporation (TALENCORP), TERAJU, and Yayasan Pendidikan Peneraju Bumiputera.

He regarded his non-elected ministerial appointment as a humbling opportunity and committed to applying his extensive banking knowledge to advance Malaysia's Vision 2020 objectives. Additionally, Abdul Wahid held board memberships at Malaysia Healthcare Travel Council, East Coast Economic Region Development Council (ECERDC), Northern Corridor Implementation Authority (NCIA), Aerospace Malaysia, Yayasan Peneraju Pendidikan Bumiputera, and chaired the Investment Committee of Malaysia’s Innovation Agency.

2016–2018: Permodalan Nasional Berhad

Abdul Wahid assumed the role of Group Chairman at Permodalan Nasional Berhad (PNB) on 1 August 2016, following the completion of his tenure as Senator and Minister. During his stewardship, PNB broadened its portfolio of syariah-compliant investment and financing solutions, with a strategic focus on establishing Malaysia as a premier center for Islamic finance worldwide.

He stepped down from his position at PNB on 29 June 2018, after which former Bank Governor Zeti Akhtar Aziz took over as Group Chairman.

2019–present: Universiti Kebangsaan Malaysia and Bursa Malaysia

On 1 November 2018, Abdul Wahid was named chairman of the board at Universiti Kebangsaan Malaysia (UKM), succeeding Tan Sri Dr Ibrahim Saad, and held this post until 31 October 2021.

Subsequently, on 17 April 2020, Finance Minister Tengku Zafrul Aziz appointed him as chairman of Bursa Malaysia, the nation's primary stock exchange. His leadership commenced on 1 May, succeeding Shireen Ann Zaharah Muhiudeen upon her retirement. This appointment was met with a favorable reaction in Bursa Malaysia’s stock market performance.

Honours of Malaysia

• :
  • Commander of the Order of Loyalty to the Crown of Malaysia (PSM) – Tan Sri (4 June 2016)
• :
  • Knight Grand Companion of the Order of Loyalty to Negeri Sembilan (SSNS) – Dato' Seri (14 January 2020)
• :
  • Grand Knight of the Order of Sultan Ahmad Shah of Pahang (SSAP) – Dato' Sri (24 October 2007)
  • Knight Companion of the Order of Sultan Ahmad Shah of Pahang (DSAP) – Dato' (24 October 2003)
• :
  • Knight Grand Companion of the Order of Sultan Sharafuddin Idris Shah (SSIS) – Dato' Setia (11 December 2016)

Awards

• Business Times/American Express Malaysia CEO of the Year Award, 2006.
• Asian Banker’s Leadership Achievement Award for Malaysia in 2013.
• The Edge Value Creator Award received in 2013.