PUTRAJAYA: IOI Group has appointed Datuk Lee Yeow Chor and Lee Yeow Seng as chief executive officers of IOI Corp Bhd and IOI Properties Group Bhd respectively.

The appointments come prior to the relisting of IOI Properties on Jan 15, effective Wednesday.

Yeow Chor was previously the group executive director of IOI Corp.

As for Yeow Seng, he was appointed to the board as executive director of IOI Corp on June 3, 2008 and subsequently re-designated to non-independent non-executive director on Dec 18, 2013.

Yeow Seng was appointed to the board of IOI Properties Group Bhd on Feb 25, 2013 and he was responsible for overseeing the operations of IOI Properties Group.

At the media briefing on Wednesday, Yeow Chor, said once the companies have demerged successfully, IOI Corp would be one of the largest pure plantation players in the market.

The company would also be fully integrated into the downstream plantation market.

He added the company would be more aggressive in sourcing for opportunities locally and in other countries such as Indonesia.

Yeow Seng, who will helm IOI Properties Group, said the target was to achieve RM2.5bil to RM3bil in sales for the financial year ending June 30, 2015.

IOI Properties' projects are mainly focused within Malaysia in the Klang Valley, Johor Baru, Malacca, Negeri Sembilan and Penang. It also has projects in Singapore and Xiamen, China.