
Group Chief Financial Officer, PBA Holdings Bhd
Mary Ann has more than 30 years of experience in public practise, industry and commerce. A Malaysian, she graduated with a Bachelor of Accounting (Honours) degree from the University of Malaya in 1992 and earned her MBA at Universiti Utara Malaysia in 1999. She received her Doctor of Business Administration (DBA) from Universiti Sains Malaysia (USM) in 2008.
She is a member of the Malaysian Institute of Accountants (MIA), which carries the designation of Chartered Accountant C.A.(M); an ASEAN Chartered Professional Accountant (ASEAN CPA), as well as a Fellow of CPA Australia.
She began her career in Arthur Andersen, one of the then Big Six Accounting firms, in 1992. She subsequently joined the hospitality sector, working with many international chains such as Starwood, Intercontinental and Parkroyal. From 2009 to 2014, she took on the role of pre-opening and opening General Manager of the Eastin Hotel Penang. During her tenure at Eastin, she was awarded the Ambassador of Hospitality Award (Top 5) in the Hospitality Asia Platinum Awards 2013 – 2015.
She has been the Group Chief Financial Officer of PBA Holdings Bhd, the public listed holding company of the sole water supply company in the State of Penang, Malaysia, since 2014.
In her role as Group CFO, she has led the company to make record profits, which surpassed RM145 million in 2024, the highest ever in the company’s history. This is even though water tariffs are highly regulated by both the Federal and State Governments.
Under her leadership, PBA Holdings Bhd won the award for the Edge Malaysia Centurion Club & Corporate Awards (TECCCA) 2019 for the Highest Returns to Shareholders Over Three Years in the Telecommunication, Media & Utilities sector.
In 2023, PBA Holdings won the TECCC award for Highest Growth in Profit After Tax Over Three Years in the same sector category.
In 2025, PBA Holdings won two TECCC awards: the Highest Growth in Profit After Tax Over Three Years and Highest Returns to Shareholders Over Three Years in the same sector category.
For fund raising via a M5.0 billion sukuk wakalah or Islamic Bonds program in 2025, she successfully led the company to obtain a AAA rating, the highest rating possible for a non-Government guaranteed bond, by the Rating Agency of Malaysia (RAM). This excellent rating translated into lower borrowing costs for the company.
The RM5.0 billion Islamic Medium-Term Notes Programme with a rating of AAA/Stable and a Sustainable Finance Rating of Gold, won the RAM Blueprint Award 2025.
The inaugural issuance of the RM300 million Sustainability Sukuk Wakalah for Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP SB), a subsidiary of PBA Holdings Bhd, won the BEST ISLAMIC FINANCE DEALS for Asia Pacific and Malaysia, accorded by FinanceAsia Achievement Awards in 2025. The maiden issuance was massively oversubscribed by 14 times, a testament to the wide market appeal of the bonds.
On 12 January 2026, Bursa Malaysia launched the Bursa Malaysia Quality 50 Index (BMQ) as well as its shariah variant, the Bursa Malaysia Quality 50 Shariah Index (BMQ-S). Under her leadership, PBA Holdings Bhd was selected to be included in both indexes. The indexes recognize listed companies that demonstrate superior financial quality, assessed using key quantitative measures including Return on Equity, Debt to Equity ratio, and Operating Cash Flow strength relative to Profit After Tax and Minority Interests. These core metrics highlight financial discipline, sustainable earnings, and overall resilience.