Former ‘flying car’ minister Redzuan named Boustead chairman

By , in Business on .

Kuala Lumpur, January 3 — Former “flying car” minister Mohd Redzuan Yusof has been appointed independent non-executive chairman of Boustead Holdings Bhd, the government-linked diversified conglomerate.

The company said Redzuan was appointed to accelerate the group’s 2022 agenda for reinvention and environmental, social, and corporate governance.

Group managing director Mohammed Shazalli Ramly said in a filing with Bursa Malaysia that Redzuan’s vast experience in corporate and public offices would elevate Boustead to a new height, Bernama reported.

The Armed Forces Fund Board (LTAT) is the majority shareholder of the group, which has interests in plantations, property, pharmaceuticals, heavy industries including military equipment, and finance.


Redzuan was minister of entrepreneur development and cooperatives from 2018 to 2020 and later served as a special functions minister in the Prime Minister’s Department from 2020 to 2021.

As entrepreneur development minister, Redzuan hit the headlines in 2019 for promoting what he said would be Malaysia’s first “flying car”, capable of cutting travel time from Kuala Lumpur to Penang to just an hour.

He said the project could take off in early 2020 but later said the red tape had got in the way.

Boustead said Redzuan holds a degree in civil engineering from the University of Leeds and began his professional career as an engineer with Esso Malaysia and was later with Petronas Carigali Sdn Bhd.


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