promoters and substantial shareholders
TRANSCRIPT
33
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATI
ON
ON
PR
OM
OTE
RS,
SU
BST
AN
TIA
L SH
AR
EHO
LDER
S, D
IREC
TOR
S A
ND
KEY
SEN
IOR
MA
NA
GEM
ENT
33
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
) 4.
1 PR
OM
OTE
RS
AN
D S
UB
STA
NTI
AL
SHA
REH
OLD
ERS
4.1.
1 Pr
omot
ers
and
subs
tant
ial s
hare
hold
ers’
sha
reho
ldin
gs
Th
e de
tails
of o
ur P
rom
oter
s an
d su
bsta
ntia
l sha
reho
lder
s an
d th
eir r
espe
ctiv
e sh
areh
oldi
ngs
in o
ur C
ompa
ny b
efor
e an
d af
ter t
he IP
O a
re a
s fo
llow
s:
Nat
iona
lity/
C
ount
ry o
f in
corp
orat
ion
Bef
ore
the
IPO
/As
at th
e LP
D
Afte
r the
IPO
<----
------
Dire
ct---
------
->
<----
-----I
ndire
ct---
------
> <-
------
---D
irect
------
-->
<----
-----I
ndire
ct---
------
>
No.
of S
hare
s
%(1
) N
o. o
f Sha
res
%
(1)
No.
of S
hare
s
%(2
) N
o. o
f Sha
res
%
(2)
Prom
oter
s an
d su
bsta
ntia
l sha
reho
lder
s
IH
AA
Cap
ital
Mal
aysi
a 46
5,67
2,40
0 45
.37
- -
465,
672,
400
39.4
6 -
-
D
atuk
Gre
gory
M
alay
sian
-
- 46
5,67
2,40
0(3)
45.3
7 -
- 46
5,67
2,40
0(3)
39.4
6
W
an N
asir
bin
Wan
Mus
tafh
a
Mal
aysi
an
- -
465,
672,
400(3
) 45
.37
- -
465,
672,
400(3
) 39
.46
Lim
Phe
ck J
oo
Sing
apor
ean
- -
465,
672,
400(3
) 45
.37
- -
465,
672,
400(3
) 39
.46
Subs
tant
ial s
hare
hold
ers
VT
Glo
bal F
und
Sing
apor
e 16
5,89
4,22
0 16
.16
- -
165,
894,
220
14.0
6 -
-
Fo
rtres
s
Mal
aysi
a 14
8,59
0,20
0 14
.48
- -
88,5
90,2
00
7.50
C
ente
nnia
l Sa
lute
M
alay
sia
104,
730,
840
10.2
0
10
4,73
0,84
0 8.
88
Urb
anfir
st
Mal
aysi
a 10
4,73
0,82
0 10
.20
104,
730,
820
8.88
Yo
ng P
eng
Tak
Mal
aysi
an
- -
209,
639,
860(4
) 20
.42
- -
209,
639,
860(4
) 17
.77
Tim
othy
Yo
ng
Zhan
gwen
M
alay
sian
17
8,20
0 0.
02
104,
730,
820(5
) 10
.20
178,
200
0.01
10
4,73
0,82
0(5)
8.88
34
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATI
ON
ON
PR
OM
OTE
RS,
SU
BST
AN
TIA
L SH
AR
EHO
LDER
S, D
IREC
TOR
S A
ND
KEY
SEN
IOR
MA
NA
GEM
ENT
(CO
NT’
D)
34
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
N
atio
nalit
y/
Cou
ntry
of
inco
rpor
atio
n
Bef
ore
the
IPO
/As
at th
e LP
D
Afte
r the
IPO
<----
------
Dire
ct---
------
->
<----
-----I
ndire
ct---
------
> <-
------
---D
irect
------
-->
<----
-----I
ndire
ct---
------
>
No.
of S
hare
s
%(1
) N
o. o
f Sha
res
%
(1)
No.
of S
hare
s
%(2
) N
o. o
f Sha
res
%
(2)
Cha
rlotte
Yo
ng
Zhan
ghui
Mal
aysi
an
- -
104,
730,
840(6
) 10
.20
- -
104,
730,
840(6
) 8.
88
N
otes
:
(1)
Base
d on
the
issu
ed s
hare
cap
ital o
f 1,0
26,3
46,0
80 S
hare
s fo
llow
ing
Pre-
IPO
Res
truct
urin
g Ex
erci
se, d
etai
ls o
f whi
ch a
re s
et o
ut in
Sec
tion
5.1.
2 of
this
Pro
spec
tus.
(2
) Ba
sed
on th
e en
larg
ed is
sued
sha
re c
apita
l of 1
,180
,000
,000
Sha
res
upon
the
List
ing.
(3
) D
eem
ed in
tere
sted
by
virtu
e of
his
/her
sha
reho
ldin
g in
IHA
A C
apita
l pur
suan
t to
Sec
tion
8 of
the
Act.
(4)
Dee
med
inte
rest
ed b
y vi
rtue
of h
is s
on, T
imot
hy Y
ong
Zhan
gwen
’s s
hare
hold
ing
in P
arag
rene
Lan
d an
d hi
s sh
areh
oldi
ng in
Urb
anfir
st a
nd
Cen
tenn
ial S
alut
e pu
rsua
nt to
Sec
tion
8 of
the
Act
(5)
Dee
med
inte
rest
ed b
y vi
rtue
of h
is s
hare
hold
ing
in U
rban
first
pur
suan
t to
Sect
ion
8 of
the
Act.
(6)
Dee
med
inte
rest
ed b
y vi
rtue
of h
er s
hare
hold
ing
in C
ente
nnia
l Sal
ute
purs
uant
to S
ectio
n 8
of th
e Ac
t.
35
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’D
)
35
Reg
istra
tion
No.
: 199
6010
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9 (4
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)
As d
iscl
osed
in t
he t
able
abo
ve,
Dat
uk G
rego
ry,
Wan
Nas
ir bi
n W
an M
usta
fha
and
Lim
Phe
ck J
oo (
all
are
our
Prom
oter
s an
d su
bsta
ntia
l sh
areh
olde
rs)
thro
ugh
thei
r sh
areh
oldi
ngs
in IH
AA C
apita
l, ex
erci
se c
ontro
l ove
r ou
r C
ompa
ny. S
ave
as d
iscl
osed
abo
ve, o
ur D
irect
ors
are
not
awar
e of
any
oth
er p
erso
n w
ho, d
irect
ly o
r ind
irect
ly, j
oint
ly o
r sev
eral
ly, e
xerc
ises
con
trol o
ver o
ur C
ompa
ny.
As a
t the
LPD
, our
Pro
mot
ers
and
subs
tant
ial s
hare
hold
ers
have
the
sam
e vo
ting
right
s w
ith e
ach
othe
r. Af
ter t
he IP
O, o
ur P
rom
oter
s an
d su
bsta
ntia
l sh
areh
olde
rs w
ill ha
ve t
he s
ame
votin
g rig
hts
with
oth
er s
hare
hold
ers
of o
ur G
roup
. Th
ere
is n
o ar
rang
emen
t be
twee
n ou
r C
ompa
ny a
nd o
ur
shar
ehol
ders
with
any
third
par
ties,
the
oper
atio
n of
whi
ch m
ay re
sult
in th
e ch
ange
and
con
trol o
f our
Com
pany
.
36
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
36
Registration No.: 199601027709 (400061-H)
4.1.2 Profiles of our Promoters and Substantial Shareholders
The profiles of our Promoters and substantial shareholders are as follows:
(i) IHAA Capital
Promoter and substantial shareholder
IHAA Capital is our Promoter and substantial shareholder. It was incorporated in Malaysia under the Companies Act 1965 on 19 March 2014 and is deemed registered under the Act as a private limited company. IHAA Capital was previously known as IHAA Holding Sdn Bhd and the change of name was effected on 11 August 2021. As at the LPD, the issued share capital of IHAA Capital is RM400,000 comprising 400,000 ordinary shares. The principal activity of IHAA Capital is investment holding. As at the LPD, the directors of IHAA Capital are Datuk Gregory, Wan Nasir bin Wan Mustafha and Lim Pheck Joo. The shareholders and their respective shareholdings in IHAA Capital as at the LPD are as follows:
Shareholders
<-------Direct-------> <----Indirect-----> Nationality
No. of ordinary
shares
% No. of ordinary
shares
%
Datuk Gregory Malaysian 159,488 39.87 - - Wan Nasir bin Wan Mustafha
Malaysian 126,268 31.57 - -
Lim Pheck Joo Singaporean 114,244 28.56 - -
Save for its investment in Paragrene Land, IHAA Capital does not have any subsidiary or associated company as at the LPD.
37
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
37
Registration No.: 199601027709 (400061-H)
(ii) Datuk Gregory Managing Director, Promoter and substantial shareholder
Datuk Gregory, a Malaysian, aged 46, is our Managing Director, Promoter and substantial shareholder. He was appointed to our Board on 11 November 2015 and is responsible for overseeing the business growth, strategic business planning and operations of our Group. He graduated with a Bachelor of Arts in Accountancy with Honours from the University of Bolton, United Kingdom in 2005. He began his career in 1994 with Arthur Andersen & Co as an Articled Clerk in the audit division. He was subsequently promoted to Audit Semi-Senior before his departure from the company in 2000. During his tenure there, he was involved in undertaking audit and business advisory engagements. In 2001, he pursued and obtained his Diploma in Audio Engineering from SAE International Technology College. He joined Eastgate Insurance Brokers Sdn Bhd in 2002 as an Executive where he advised the company’s clients on risk management and recommended suitable insurance policies.
In 2003, he joined Amanah Scotts Properties (KL) Sdn Bhd (now known as Attana Scotts Properties (KL) Sdn Bhd) as an Assistant to the Financial Controller where he assisted in overseeing the operations of the finance and accounts department. He left the company in 2006 and took a career break. In 2007, he joined Paragrene Land as a Finance Manager where he was primarily responsible for the finance and operations of our Group. Following the departure of one of the Directors in Paragrene Land in 2009, his role as a Finance Manager evolved to include overseeing the implementation and execution of our development projects and obtaining financing for these projects. Datuk Gregory has been pivotal in the successful completion of all of our completed projects. He was subsequently promoted to Financial Controller and Director in Financial Planning of our Group in 2013 and 2015, respectively. As Financial Controller and Director in Financial Planning, he continued to oversee the implementation and execution of development projects. His responsibilities also extended to include financial planning and providing strategic input to the strategic direction of the company. In 2015, he was promoted to his current position as the Managing Director of our Group. Over the years, Datuk Gregory has garnered approximately 17 years of experience working in the property development industry. He is also a director of various other private limited companies, details of which are as set out in Section 4.2.4 of this Prospectus.
38
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
38
Registration No.: 199601027709 (400061-H)
(iii) Wan Nasir bin Wan Mustafha Promoter and substantial shareholder
Wan Nasir bin Wan Mustafha, a Malaysian, aged 46, is our Promoter and substantial shareholder. Between 1988 and 1989, he attended secondary education at Sekolah Menengah Kebangsaan Pengkalan Chepa, Kota Bharu, Kelantan. Thereafter, he took up various short term casual jobs up to the year 1998. In 1998, he set up and operated food stalls in Kota Bharu, Kelantan and Kuala Lumpur up to 2007. At the same time, between the year 2004 and 2007, he was exploring opportunities relating to property acquisitions and disposals in Kelantan. In 2008, he joined Elite Appeal, a company principally involved in general construction works, as an Executive Director where he was primarily responsible in procuring government construction contracts. He left Elite Appeal in 2012. In 2008, he also joined Betamusifa Trading Sdn Bhd, a company principally involved in the trading of building materials as a Director where he was primarily responsible in procuring supply contracts to provide materials to government agencies. He then joined Seri Setia Plantation Sdn Bhd in 2009 as a Director where he was responsible for liaising with authorities for obtaining relevant permits and approvals. He subsequently left Betamusifa Trading Sdn Bhd in 2009. Seri Setia Plantation Sdn Bhd was dissolved in 2017. In 2009, he was appointed as Director of Paragrene Land and was responsible for overseeing the Authorities Liaison and Tender Department of Paragrene Land. During that time, he was responsible in identifying suitable lands for future development and leading all liaison activities with authorities. He left his role as a Director in July 2021 but remains a Promoter and Substantial Shareholder of our Group.
39
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
39
Registration No.: 199601027709 (400061-H)
(iv) Lim Pheck Joo Promoter and substantial shareholder
Lim Pheck Joo, a Singaporean, aged 52, is our Promoter and substantial shareholder. She is currently residing in Malaysia. In 1987, she completed her junior college course from Yishun Junior College (now known as Yishun Innova Junior College), Singapore. Upon completing her pre-university education, she joined PAMA Group Inc (formerly known as Prudential Asset Management Asia) in Singapore as a Personal Assistant to the Investment Director in 1989 until 1994. During her tenure there, she was primarily responsible for assisting the Investment Director in his investment work. Thereafter, she focused on her personal investments in Singapore and Malaysia. From 2017 to 2021, she was a Business Development Advisor to our Group and was responsible in marketing and referring potential foreign buyers under the Grenepark Village Project.
(v) Fortress
Substantial shareholder
Fortress is our substantial shareholder. It was incorporated in Malaysia under the Companies Act 1965 on 19 November 2002 and is deemed registered under the Act as a private limited company under its present name. Fortress is principally an asset management company. Fortress holds a fund management license granted by the SC to carry out fund management in relation to portfolio management. As at the LPD, there are 10 licensed representatives of Fortress who are responsible for the management of its investment portfolios. As at the LPD, the issued share capital of Fortress is RM2,030,000 comprising 2,030,000 ordinary shares. The directors of Fortress are Yong Peng Tak, Loo Kok Yuen and Geoffrey Ng Ching Fung. Yong Peng Tak is the Non-Independent Non-Executive Chairman of our Group since 9 July 2021.
40
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
40
Registration No.: 199601027709 (400061-H)
The shareholder of Fortress and its respective shareholding in Fortress as at the LPD are as follows:
Shareholders
<-------Direct-------> <-------Indirect-------> Nationality/ Country of incorporation
No. of ordinary
shares
% No. of ordinary
shares
%
Fortress Capital Management
Malaysia 2,030,000 100.00 - -
Yong Peng Tak
Malaysian - - 2,030,000(1) 100.00
Loo Kok Yuen Malaysian 2,030,000(2) 100.00
Notes: (1) Deemed interested pursuant to his 70% equity interest in Fortress Capital
Management pursuant to Section 8 of the Act.
(2) Deemed interested pursuant to his 30% equity interest in Fortress Capital Management pursuant to Section 8 of the Act.
Fortress’ interest in Paragrene Land, being one of their investee companies, is solely for investment purposes only. Fortress does not participate in the day-to-day management and operations of our Group.
Fortress has full authority, power and discretion to exercise, on behalf of its clients, all voting and other rights relating to the securities held as part of the investment portfolios. As at the LPD, there are a total of 21 clients that have invested in our Group via Fortress (“Investors”). The Investors are diversely owned by Malaysian, foreigners, local and foreign companies. None of the Investors have any control in anyway in relation to the decision making of Fortress in our Group or the ability to participate in the management of the Fortress or ultimately the Fortress’ investee companies, including our Group. Further, the Investors are not involved in the day-to-day management of our Group and they do not have control on the direction, allocation and usage of our Group’s financial resources. In addition, the Investors do not have any family relationship with the Directors, Promoters, substantial shareholders and Key Senior Management of our Group. As at the LPD, Fortress does not have any subsidiary or associated company.
41
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
41
Registration No.: 199601027709 (400061-H)
(vi) VT Global Fund Substantial shareholder
VT Global Fund (Singapore ACRA UEN: 202024806M) is our substantial shareholder. It was incorporated in Singapore under the Companies Act 2006 of Singapore on 18 August 2020 as a private limited company under its present name. VT Global Fund is an investment fund company. As at the LPD, the issued share capital of VT Global Fund is SGD1.00 comprising 1 ordinary share. The director of VT Global Fund is Luchetti Lucia. The registered shareholder of VT Global Fund is Equiom Trust Services Pte Ltd (Singapore ACRA UEN: 201018406R), a company duly incorporated in Singapore and licensed by the Monetary Authority of Singapore as a licensed trust company. Equiom Trust Services Pte Ltd holds the share in VT Global Fund on trust for the purposes of succession planning. The trust arrangement is discretionary and revocable, and none of the beneficiaries of the trust has a vested interest in the assets of the trust. VT Global Fund is managed by VT Family Office Pte Ltd, which has the full authority, power and discretion to exercise on behalf of VT Global Fund all voting and other rights relating to the securities held as part of the investment portfolios. VT Global Fund and the VT Family Office Pte Ltd do not participate in the day-to-day management and operations of our Group and do not have control on the direction, allocation and usage of our Group’s financial resources. In addition, VT Global Fund, VT Family Office Pte Ltd and the beneficiaries of the trust do not have any family relationships with the Directors, Promoters, substantial shareholders and Key Senior Management of our Group.
(vii) Centennial Salute
Substantial shareholder
Centennial Salute is our substantial shareholder. It was incorporated in Malaysia under the Act on 8 July 2020 as a private company limited by shares under its present name. The principal activity of Centennial Salute is investment holding. As at LPD, the issued share capital of Centennial Salute is RM10,473,085 comprising 5,236,543 ordinary shares.
42
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
42
Registration No.: 199601027709 (400061-H)
As at LPD, the directors and shareholders of Centennial Salute are Yong Peng Tak and Charlotte Yong Zhanghui and their respective shareholdings are as follows:
Shareholders
<--------Direct--------> <-------Indirect-------> Nationality No. of
ordinary shares
% No. of ordinary
shares
%
Yong Peng Tak
Malaysian 3,986,543 76.13 - -
Charlotte Yong Zhanghui
Malaysian 1,250,000 23.87
As at the LPD, Centennial Salute does not have any subsidiary or associated company.
(viii) Urbanfirst
Substantial shareholder
Urbanfirst is our substantial shareholder. It was incorporated in Malaysia under the Act on 3 August 2020 and is deemed registered under the Act as a private company limited by shares under its present name. The principal activity of Urbanfirst is investment holding. As at LPD, the issued share capital of Urbanfirst is RM10,473,083 comprising 5,236,542 ordinary shares. The directors and shareholders of Urbanfirst are Yong Peng Tak and Timothy Yong Zhangwen and their respective shareholdings are as follows:
Shareholders
<--------Direct--------> <-------Indirect-------> Nationality
No. of ordinary
shares
% No. of ordinary
shares
%
Yong Peng Tak
Malaysian 3,986,541 76.13 - -
Timothy Yong Zhangwen
Malaysian 1,250,001 23.87 - -
As at the LPD, Urbanfirst does not have any subsidiary or associated company.
43
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
43
Registration No.: 199601027709 (400061-H)
(ix) Timothy Yong Zhangwen Substantial shareholder
Timothy Yong Zhangwen, a Malaysian, aged 26, is our substantial shareholder by virtue of his shareholdings in Urbanfirst. In 2020, he graduated with a Bachelor of Business and Commerce from the University of Monash, Australia. Upon completing his tertiary education, he joined our Company in 2020 as a Marketing Executive.
(x) Charlotte Yong Zhanghui
Substantial shareholder
Charlotte Yong Zhanghui, a Malaysian, aged 22, is our substantial shareholder by virtue of her shareholdings in Centennial Salute. She is currently pursuing her tertiary education in Australia.
44
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATI
ON
ON
PR
OM
OTE
RS,
SU
BST
AN
TIA
L SH
AR
EHO
LDER
S, D
IREC
TOR
S A
ND
KEY
SEN
IOR
MA
NA
GEM
ENT
(CO
NT’
D)
44
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.1.
3 C
hang
es in
our
Pro
mot
ers’
and
/or s
ubst
antia
l sha
reho
lder
s’ s
hare
hold
ing
Save
as
disc
lose
d be
low
, the
re a
re n
o ot
her c
hang
es in
the
shar
ehol
ding
s of
our
Pro
mot
ers
and
subs
tant
ial s
hare
hold
ers
in o
ur C
ompa
ny fo
r the
pa
st th
ree
year
s pr
eced
ing
the
LPD
:
A
s at
31
Dec
embe
r 201
8 A
s at
31
Dec
embe
r 201
9
<----
------
Dire
ct---
------
->
<----
-----I
ndire
ct---
------
->
<----
------
Dire
ct---
------
->
<----
-----I
ndire
ct---
------
>
Nam
e N
o. o
f Sh
ares
%
N
o. o
f Sh
ares
%
N
o. o
f Sh
ares
%
N
o. o
f Sh
ares
%
Pr
omot
ers
and
subs
tant
ial
shar
ehol
ders
IHA
A C
apita
l -
- -
- -
- -
-
Dat
uk G
rego
ry
- -
- -
- -
- -
Wan
Nas
ir bi
n W
an M
usta
fha
5,10
0,00
0 14
.57
- -
5,10
0,00
0 14
.57
- -
Lim
Phe
ck J
oo
1,90
0,00
0 5.
43
- -
1,90
0,00
0 5.
43
- -
Subs
tant
ial s
hare
hold
ers
Fortr
ess (7
) 28
,000
,000
80
.00
- -
28,0
00,0
00
80.0
0 -
-
VT G
loba
l Fun
d -
- -
- -
- -
-
Cen
tenn
ial S
alut
e -
- -
- -
- -
-
Urb
anfir
st
- -
- -
- -
- -
Yong
Pen
g Ta
k -
- -
- -
- -
-
Tim
othy
Yon
g Zh
angw
en
- -
- -
- -
- -
Cha
rlotte
Yon
g Zh
angh
ui
- -
- -
- -
- -
45
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATI
ON
ON
PR
OM
OTE
RS,
SU
BST
AN
TIA
L SH
AR
EHO
LDER
S, D
IREC
TOR
S A
ND
KEY
SEN
IOR
MA
NA
GEM
ENT
(CO
NT’
D)
45
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
A
s at
31
Dec
embe
r 202
0 A
s at
the
LPD
<----
------
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ct---
------
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rect
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Nam
e N
o. o
f Sh
ares
%
N
o. o
f Sh
ares
%
N
o. o
f Sh
ares
%
(1)
No.
of
Shar
es
%(1
) Pr
omot
ers
and
subs
tant
ial
shar
ehol
ders
IHA
A C
apita
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- -
- 46
5,67
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3)
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-
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uk G
rego
ry
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- -
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465,
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400(2
)(3)
45
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n W
an M
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- -
- -
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672,
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)(3)
45
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ck J
oo
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43
- -
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465,
672,
400(2
)(3)
45
.37
Subs
tant
ial s
hare
hold
ers
Fortr
ess(7
) 28
,000
,000
80
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- -
148,
590,
200
14.4
8 -
-
VT G
loba
l Fun
d(7)
- -
- -
165,
894,
220
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6 -
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tenn
ial S
alut
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- 10
4,73
0,84
0 10
.20
- -
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anfir
st
- -
- -
104,
730,
820
10.2
0 -
-
Yong
Pen
g Ta
k -
- -
- -
- 20
9,63
9,86
0(4)
20.4
2
Tim
othy
Yan
g Zh
angw
en
- -
- -
178,
200
0.02
10
4,73
0,82
0(5)
10.2
0
Cha
rlotte
Yon
g Zh
angh
ui
- -
- -
- -
104,
730,
840(6
) 10
.20
46
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATI
ON
ON
PR
OM
OTE
RS,
SU
BST
AN
TIA
L SH
AR
EHO
LDER
S, D
IREC
TOR
S A
ND
KEY
SEN
IOR
MA
NA
GEM
ENT
(CO
NT’
D)
46
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
Not
es:
(1
) Ba
sed
on o
ur is
sued
sha
re c
apita
l of 1
,026
,346
,080
Sha
res
as a
t the
LPD
. (2
) Pl
ease
refe
r to
Sect
ion
5.1.
2 fo
r mor
e de
tails
on
the
Pre-
IPO
Res
truct
urin
g Ex
erci
se.
(3)
Dee
med
inte
rest
ed b
y vi
rtue
of h
is/h
er s
hare
hold
ing
in IH
AA
Cap
ital p
ursu
ant t
o S
ectio
n 8
of th
e Ac
t. (4
) D
eem
ed in
tere
sted
by
virtu
e of
his
son
, Tim
othy
Yon
g Zh
angw
en’s
sha
reho
ldin
g in
Par
agre
ne L
and
and
his
shar
ehol
ding
in U
rban
first
and
C
ente
nnia
l Sal
ute
purs
uant
to S
ectio
n 8
of th
e Ac
t. (5
) D
eem
ed in
tere
sted
by
virtu
e of
his
sha
reho
ldin
g in
Urb
anfir
st p
ursu
ant t
o Se
ctio
n 8
of th
e Ac
t. (6
) D
eem
ed in
tere
sted
by
virtu
e of
her
sha
reho
ldin
g in
Cen
tenn
ial S
alut
e pu
rsua
nt to
Sec
tion
8 of
the
Act.
47
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATI
ON
ON
PR
OM
OTE
RS,
SU
BST
AN
TIA
L SH
AR
EHO
LDER
S, D
IREC
TOR
S A
ND
KEY
SEN
IOR
MA
NA
GEM
ENT
(CO
NT’
D)
47
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
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(7)
The
follo
win
g ch
ange
s in
our
sub
stan
tial s
hare
hold
ers’
sha
reho
ldin
g ar
e by
virt
ue o
f RC
PS:
Nam
e
As
at 3
1 D
ecem
ber 2
018
As
at 3
1 D
ecem
ber 2
019
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dire
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rect
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of R
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%
N
o. o
f RC
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%
No.
of R
CPS
%
N
o. o
f RC
PS
%
Fortr
ess
– R
CP
S
56,6
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00
100
- -
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- -
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e
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at 3
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020
As
at th
e LP
D
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of R
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%
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o. o
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%
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of R
CPS
%
N
o. o
f RC
PS
%
Fortr
ess
– R
CP
S
67,6
39,5
00
100
- -
- -
- -
48
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
48
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.1.
4 Pr
omot
ers
and
subs
tant
ial s
hare
hold
ers’
rem
uner
atio
n an
d be
nefit
s
Sa
ve fo
r the
agg
rega
te re
mun
erat
ion
and
bene
fits-
in-k
ind
paid
or p
ropo
sed
to b
e pa
id to
our
Pro
mot
ers
and
subs
tant
ial s
hare
hold
ers
for s
ervi
ces
rend
ered
to o
ur G
roup
in a
ll ca
paci
ties
for t
he F
YE 3
1 D
ecem
ber 2
019
and
FYE
31 D
ecem
ber 2
020
as s
et o
ut in
Sec
tion
4.2.
6 of
this
Pro
spec
tus,
th
ere
are
no o
ther
am
ount
s or
ben
efits
pai
d or
inte
nded
to b
e pa
id o
r giv
en to
any
of o
ur P
rom
oter
s or
sub
stan
tial s
hare
hold
ers,
with
in th
e 2
year
s pr
eced
ing
the
date
of t
his
Pro
spec
tus.
Prom
oter
s an
d su
bsta
ntia
l sha
reho
lder
s
Rem
uner
atio
n B
and
FY
E 31
Dec
embe
r 201
9 R
M’0
00
FYE
31 D
ecem
ber 2
020
RM
’000
Dat
uk G
rego
ry(1
) 45
0 - 5
00
400
- 450
Wan
Nas
ir bi
n W
an M
usta
fha(2
) 15
0 - 2
00
150
- 200
Lim
Phe
ck J
oo(3
) 35
0 - 4
00
250
- 300
N
otes
:
(1)
Kind
ly re
fer t
o Se
ctio
n 4.
2.6
of th
is P
rosp
ectu
s fo
r fur
ther
det
ails
. (2
) R
emun
erat
ion
was
pai
d to
him
(whi
ch in
clud
es s
alar
y, b
onus
es a
nd b
enef
its-in
-kin
d) fo
r his
role
as
a D
irect
or o
f the
Com
pany
. (3
) R
emun
erat
ion
was
pai
d to
her
(w
hich
incl
udes
sal
ary,
bon
uses
and
ben
efits
-in-k
ind)
for
her
role
as
a Bu
sine
ss D
evel
opm
ent A
dvis
or o
f th
e C
ompa
ny.
49
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
49
Registration No.: 199601027709 (400061-H)
4.2 DIRECTORS
4.2.1 Our Board comprises the following members:
Name Age Gender Nationality Date of
appointment Designation
Yong Peng Tak
53 Male Malaysian 9 July 2021 Non-Independent
Non-Executive Chairman
Datuk Gregory 46 Male Malaysian 11 November
2015 Managing Director
Mohd Halim
Why bin Abdullah
59 Male Malaysian 22 January 2021
Executive Director
Sanipah binti
Sanusi 50 Female Malaysian 9 July 2021 Executive
Director
Heng Aik Chong
55 Male Malaysian 3 August 2021 Senior Independent
Non-Executive Director
Yang Chong
Yaw Alan
52 Male Malaysian 3 August 2021 Independent Non-Executive
Director
Safina binti Mohd Ali
51 Female Malaysian 3 August 2021 Independent Non-Executive
Director
Tan Sik Hui 48 Female Malaysian 3 August 2021 Independent Non-Executive
Director
50
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
50
Registration No.: 199601027709 (400061-H)
4.2.2 Profiles of Directors
The profiles of the Directors of our Group are as follows:
(i) Yong Peng Tak Non-Independent Non-Executive Chairman and Substantial shareholder
Yong Peng Tak, a Malaysian, aged 53, is our Non-Independent Non-Executive Chairman and substantial shareholder. He was appointed to our Board on 9 July 2021. He graduated with a Bachelor of Accountancy from the National University of Singapore, Singapore in 1990 and later obtained a Master of Business Administration from Imperial College of Science, Technology and Medicine of the University of London, United Kingdom in 1995. He is a member of the Chartered Financial Analyst Institute (previously known as the Institute of Chartered Financial Analysts), United States of America, since 1995 and a Fellow member of the Institute of Singapore Chartered Accountants, Singapore, since 2005. He has approximately 31 years of experience in investment management and financial advisory services. He began his career in 1990 with Price Waterhouse (now known as PricewaterhouseCoopers (“PwC”)), based in Singapore, as an Audit Assistant in the Audit and Business Advisory Services Department. He was subsequently promoted to Audit Semi-Senior, Audit Senior and Audit Supervisor in 1991, 1992 and 1993, respectively. During his tenure with PwC, he was primarily responsible in assisting with the audit of the clients’ accounts and the types of clients that he was exposed to including companies in the manufacturing and trading sectors, construction companies, travel agencies and financial institutions. He left PwC in 1993 to pursue his further studies on a full-time basis. Upon completing his master’s degree, he joined BHLB Asset Management Sdn Bhd in 1995 as a Manager, where he was primarily responsible for the formulation of investment strategies, supervision of central dealing activities and research coverage. He left BHLB Asset Management Sdn Bhd as a Senior Investment Manager in 2000. Subsequently, he joined Pacific Mutual Fund Bhd as a Chief Investment Officer in 2000. He was primarily responsible for the formulation of investment strategies, supervision of investment team and research coverage until his departure in 2002.
51
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
51
Registration No.: 199601027709 (400061-H)
After he left Pacific Mutual Fund Bhd in 2002, he founded Fortress, a fund management firm licensed under the CMSA. As the Chief Executive Officer, he is primarily responsible for developing business strategies, formulation of investment strategies and management of overall operations. Presently, he is also the Independent Non-Executive Director of Wellcall Holdings Berhad, a public listed company on the Main Market of Bursa Securities as well as director of various other private limited companies, details of which are as set out in Section 4.2.4 of this Prospectus.
(ii) Datuk Gregory
Managing Director, Promoter and substantial shareholder Please refer to section 4.1.2 of this Prospectus for his profile.
(iii) Mohd Halim Why bin Abdullah
Executive Director Mohd Halim Why bin Abdullah, a Malaysian, aged 59, is our Executive Director. He was appointed to our Board on 22 January 2021. He has approximately 29 years of experience in the property development industry. In 1980, he attended his Lower 6 education with Wesley Methodist School Ipoh (International). In 2001, he graduated with a Master of Business Administration in Southern California University for Professional Studies (now known as California Southern University), United States of America. After he left Wesley Methodist School Ipoh (International) in 1981, he was involved in direct sales and marketing until 1992. In 1992, he joined Farlim Berhad as a Sales and Marketing Executive, where he was primarily involved in assisting the Marketing and Credit Control Manager in the marketing of projects as well as pre-sales administration. He left Farlim Berhad in 1994 and joined LBS Bina Holdings Sdn Bhd as a Marketing Manager where he was primarily responsible for formulating sales and pricing strategies for the company. He left LBS Bina Holdings Sdn Bhd in 1995 and subsequently joined Yoong Hun Holdings Sdn Bhd as a Marketing Manager in the same year, where he was responsible for managing the overall sales and marketing activities of the company.
52
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
52
Registration No.: 199601027709 (400061-H)
In 1997, he joined Hiap Aik Construction Berhad as a Sales and Marketing Manager where he was primarily involved in the execution of marketing strategies in the company. While working with Hiap Aik Construction Berhad, he pursued his Master of Business Administration. In 1999, he co-founded Knox Management Sdn Bhd, a company involved in the provision of consulting and management services for property development companies. Subsequently, he left Hiap Aik Construction Berhad to focus on the business of Knox Management Sdn Bhd in 2000. From 2000 to 2019, he was the Executive Director of the company and he was primarily responsible for overseeing the entire business operation of the company. In 2018, he was appointed as a Development Advisor of our Group on a retainer basis until January 2021. Thereafter, he joined our Group in January 2021 as an Executive Director and is currently responsible for conceptual plan development, formulating marketing strategies, liaising with end-financiers, and managing property agents to undertake sales activities for our Group. He is also responsible for identifying suitable land for development for our Group. He is also a director of various other private limited companies, details of which are as set out in Section 4.2.4 of this Prospectus.
(iv) Sanipah binti Sanusi
Executive Director Sanipah binti Sanusi, a Malaysian, aged 50, is our Executive Director. She was appointed to our Board on 9 July 2021. She is responsible for liaising with authorities for relevant permits and approvals and managing tender applications for the appointment of contractors for our Group. She has approximately 28 years of experience in quantity surveying and project management. She obtained her Diploma in Buildings from MARA Institute of Technology Shah Alam in 1993. She began her career in 1993 with Arab-Malaysian-Toda Construction Sdn Bhd as an Assistant Contracts Administrator, in which she was involved in quantity surveying works, handling payments to sub-contractors and managing contracts entered into between contractors, sub-contractors and developers. She was subsequently promoted to Contracts Administrator in 1996 where she assumed similar responsibilities as her previous designation. She left Arab-Malaysian-Toda Construction Sdn Bhd in 1999.
53
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
53
Registration No.: 199601027709 (400061-H)
From 1999 to 2007, she worked with Pembinaan Gagah Listari Sdn Bhd as a Quantity Surveyor in the Project Department where she was primarily responsible in handling the overall cost and management of projects as well as monitoring sub-contractors and quantity surveyor works. In 2007, she joined Paragrene Land as a Quantity Surveyor where she was responsible for assisting in the management of project development activities, including overseeing the execution of construction activities and management of project costs, as well as liaising with authorities. In 2015, she was promoted to Assistant General Manager in the Authorities Liaison and Tender Department where she was responsible for assisting in authorities-liaison and tendering works in the Group. Thereafter, she joined our Group in 2021 as an Executive Director and is currently responsible for liaising with authorities for relevant permits and approvals as well as managing tender applications for the appointment of contractors for our Group.
(v) Heng Aik Chong
Senior Independent Non-Executive Director Heng Aik Chong, a Malaysian, aged 55, is our Senior Independent Non-Executive Director. He was appointed to our Board on 3 August 2021. He is also the Chairman of the Risk Management Committee and Nomination Committee and a member of the Audit Committee and Remuneration Committee of our Group. He has approximately 31 years of experience in audit, accounting and finance. He completed his Sijil Tinggi Persekolahan Malaysia (STPM) in 1985 at Sekolah Menengah King George V (A), Seremban and thereafter graduated with the Chartered Association of Certified Accountants in 1992. He has been an Associate of the Chartered Association of Certified Accountants since 1994 and a Fellow member since 1999. He is also admitted as a Registered Accountant since 1995 and Chartered Accountant since 2001 in the Malaysian of Accountants.
He began his career in 1990 in Brenner Nathan Hart Chartered Accountants in London, United Kingdom, as a Trainee Certified Accountant, in which he was involved in the provision of accounting, auditing and consultation services. He left Brenner Nathan Hart Chartered Accountants in 1991. After taking a break for several months, he returned to Malaysia and joined Anthony Skelchy & Aziz as an Audit Senior in the Audit and Business Advisory Department in 1992, where he was primarily responsible for the provision of accounting, auditing and consultation services. In 1993, he left Anthony Skelchy & Aziz and joined Price Waterhouse (now known as PwC) as an Audit Senior in the Business Advisory Department where he was primarily responsible for conducting audit with various clients from public listed companies to multinational companies.
54
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
54
Registration No.: 199601027709 (400061-H)
Subsequently, he left PwC in 1993 and joined Dataprep Holdings Bhd as a Finance Executive in the Finance Department where he was primarily responsible for overseeing the overall finance, accounting, tax and treasury matters of the company. In 1995, he was promoted to Finance Manager. From 1996 to 2000, he worked with FCS Computer Systems Sdn Bhd as Finance and Admin Manager in the Finance Department where he was responsible for overseeing the overall finance and accounting matters of the company. In 2000, he worked with Linguaphone Distributors Sdn Bhd as a Chief Financial Officer for several months where he was primarily responsible for management of cash flow and overseeing all company accounts and investment. In the same year, he left Linguaphone Distributors Sdn Bhd and joined KS Eminent Advance Systems Sdn Bhd (now known as Profitera Corporation Sdn Bhd) as a Chief Financial Officer where he was primarily responsible for the overall financial matters of the company. He left KS Eminent Advance Systems Sdn Bhd in 2002. In 2002, he joined RK Komputer Sdn Bhd as a Chief Financial Officer where he was primarily responsible for overseeing the overall finance, accounting, tax, legal and treasury matters of the company. In 2009, he left RK Komputer Sdn Bhd to join Frost & Sullivan as a Finance Director where he was responsible for overseeing the finance, accounting and treasury departments of the company. He left Frost & Sullivan in 2010. In 2010, he joined Interactive Intelligence Inc as Director of Financial Operations (APAC) where he was primarily responsible for overseeing the finance, accounting and treasury departments of the company. He left Interactive Intelligence Inc in 2014 and took a career break until 2015 where he joined Dimension Data (M) Sdn Bhd (now known as NTT Malaysia Solutions Sdn Bhd) as a Chief Financial Officer. He was primarily responsible for full spectrum of finance functions, including budgeting and forecasting, management reporting, working capital management, inventory management, internal controls and tax issues until his departure in 2021. He is also a director of several private limited companies, details of which are as set out in Section 4.2.4 of this Prospectus.
55
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
55
Registration No.: 199601027709 (400061-H)
(vi) Yang Chong Yaw Alan Independent Non-Executive Director Yang Chong Yaw Alan, a Malaysian, aged 52, is our Independent Non-Executive Director. He was appointed to our Board on 3 August 2021. He is also the Chairman of the Audit Committee and a member of the Risk Management Committee, Nomination Committee and Remuneration Committee of our Group. He has approximately 28 years of experience in accounting, tax, corporate advisory, business and product development. He graduated with a Bachelor of Economics from the Macquarie University, Australia in 1993, followed by a Master of Business Administration from the same university in 1999. He is a Certified Practising Accountant (“CPA”) of the Australian Society of CPA (now known as CPA Australia) since 1996. He began his career in 1993 in Coopers and Lybrand (now known as PwC) as an Audit Assistant. He was subsequently promoted to Audit Senior in 1995. During his tenure of employment in Coopers and Lybrand, he was primarily involved in performing audit works for insurance companies, banks, property companies and engineering companies. He left Coopers and Lybrand in 1996. From 1996 to 1998, he worked with Amanah Merchant Bank Berhad (now known as Alliance Investment Bank Berhad) as an Executive in the Corporate Finance Department where he was primarily responsible in assisting in the execution of various corporate finance exercises.
In 1999, he joined Kurnia Insurans (Malaysia) Berhad (now known as AmGeneral Insurance Berhad) as a Deputy Manager in the Accounts Department where he was primarily responsible for performing treasury management and evaluating potential fund managers. He joined Malaysian International Merchant Bankers Berhad (now known as Hong Leong Bank Berhad) in 2000 as a Senior Executive in the Corporate Finance Department, in which he was primarily responsible for the execution of corporate finance exercises. He was subsequently promoted to Assistant Manager in 2000 where he carried out similar responsibilities as his previous designation. In 2001, he joined TGN Dataworks Sdn Bhd, a start-up company that develops innovative applications for valuation of companies, as a Vice President where he was involved in providing information and analysis with a focus on mergers and acquisition transaction development and execution solutions. In 2004, he co-founded WB Research Sdn Bhd, a company involved in providing financial fundamental data and analytics on companies listed on Bursa Securities and assumed the role of a Chief Operating Officer. He was primarily responsible for overseeing the day-to-day administrative and operational functions of the business. In 2005, he joined AVIC Tech Corporation Sdn Bhd as a Financial Controller where he was primarily responsible for the financial function of the company. He left the company in 2006 to rejoin WB Research Sdn Bhd in 2007 as a Chief Operating Officer. He left WB Research Sdn Bhd in 2010.
56
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
56
Registration No.: 199601027709 (400061-H)
In 2010, he co-founded Firegent iASP Sdn Bhd, a company involved in providing data-driven analytics to companies. Until present, he assumes the role of a Chief Operating Officer where he is primarily responsible for overseeing the day-to-day administrative and operational functions of the company. Presently, he is also the Independent Non-Executive Director of Wellcall Holdings Berhad, a company listed on the Main Market of Bursa Securities as well as a director of several private limited companies, details of which are as set out in Section 4.2.4 of this Prospectus.
(vii) Safina binti Mohd Ali
Independent Non-Executive Director
Safina binti Mohd Ali, a Malaysian, aged 51, is our Independent Non-Executive Director. She was appointed to our Board on 3 August 2021. She is also a member of the Audit Committee and Risk Management Committee of our Group. She obtained her Diploma in Computer Science from Institut Teknologi Mara, Selangor in 1992 and subsequently obtained her Bachelor of Science (Land Administration and Development) from Universiti Teknologi Malaysia in 2011. She later graduated with a Doctor of Philosophy (Land Administration and Development) from University Teknologi Malaysia in 2021. She began her career in 1991 in Reliance Computer Centre Sdn Bhd, as a programmer focusing on the application development of the in-house systems. In 1992, she left Reliance Computer Centre to join Guthrie Solutions Sdn Bhd as a programmer wherein she was responsible for developing job costing and timesheet system. She left Guthrie Solutions Sdn Bhd in 1994. From 1994 to 1998, she joined Time Systems Integrators Sdn Bhd and assumed the role of an Analyst Programmer in the System Development Department wherein she was primary responsible for the development of land system application for the state of Kedah. Subsequently, from 1998 to 2000, she worked with Global System Integration Sdn Bhd as a Software Engineer in the System Development Department and was primarily responsible for the development of SMARTMilik application for the state of Selangor. In 2000, she joined Imatera Digital Image Services Sdn Bhd as a Senior ICT Consultant where she was primarily responsible for preparing tender information technology solutions specifically in land related matters in the government sectors. She left Imatera Digital Image Services Sdn Bhd in 2010.
57
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
57
Registration No.: 199601027709 (400061-H)
In 2010, she worked with Konsortium Jaya Sdn Bhd as a Project Manager and was primarily responsible in leading the team in developing a registration module in e-Tanah system. She subsequently joined Sage Consulting Sdn Bhd in the same year as a Consultant on a contract basis where she was primarily responsible for conducting research works on the impacts of applying the e-Tanah system in Penang. When the project ended in 2010, she worked as a freelancer in various other projects in relation to the development of land system applications. In 2011, she joined Konsortium Jaya Sdn Bhd as a Consultant on a contract basis where she was primarily responsible for guiding the application development team in developing the e-Tanah system for both Negeri Sembilan and Malacca. The project was completed in 2014 and thereafter she fully focused on her studies for Doctor of Philosophy (Land Administration and Development). She has been taking a break since her graduation. Her interests in other corporations are as set out in Section 4.2.4 of this Prospectus.
(viii) Tan Sik Hui
Independent Non-Executive Director Tan Sik Hui, a Malaysian, aged 48, is our Independent Non-Executive Director. She was appointed to our Board on 3 August 2021. She is also the Chairman of the Remuneration Committee and a member of the Nomination Committee of our Group. She obtained her Bachelor of Commerce from The University of Western Australia, Australia in 1995. She began her career in 1995 in The Pacific Bank Berhad (now known as Malayan Banking Berhad) as a Credit and Risk Analyst in the “Privilege” Banking Division of the Gleneagles Branch which she was primarily responsible in preparing, analysing and proposing loan documentations for bank borrowers and the submission for credit or loan approval to the Executive Committee Board for approval as well as preparing and carrying out credit and risk analysis. She was then promoted to be the Assistant Branch Manager in 1996 and was responsible for overseeing the servicing of clients in the premier banking branch in Gleneagles. She left The Pacific Bank Berhad in 1998. In 1998, she joined HLG Securities Sdn Bhd (now known as Hong Leong Investment Bank Berhad) as an Analyst and was primarily involved in researching and analysing data in the oil and gas as well as timber sectors. After working as an Analyst for several months in HLG Securities Sdn Bhd, she requested for an internal transfer to join the dealing team in HLG Securities Sdn Bhd as a Dealer Representative for high net worth clients.
58
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
58
Registration No.: 199601027709 (400061-H)
She left HLG Securities Sdn Bhd in 1999 to join PhileoAllied Bank (Malaysia) Berhad (now known as Malayan Banking Berhad) as a Manager. She was primarily responsible for assisting in the establishment of the new private banking department. She left PhileoAllied Bank (Malaysia) Berhad in 1999. Subsequently, from 1999 to 2001, she worked with Canadian Imperial Bank of Commerce, based in Singapore, as the Associate Director in the private banking department and was primarily responsible for product structuring and servicing for high net worth individuals in Malaysia, Singapore, Thailand, Hong Kong and Japan. She took a career break from 2001 to 2003. In 2003, she joined Merrill Lynch (Asia Pacific) Limited (now known as Bank of America Corporation), based in Hong Kong and assumed the role of a Vice President in which she was primarily responsible for servicing investors, discussing and implementing investment strategies as well as leading trading activities. She was subsequently transferred to the Beijing branch in China in 2004 wherein she assumed the same role. She left Merrill Lynch (Asia Pacific) Limited in 2015 and worked in a boutique investment consulting firm in China named House of Qin Limited from 2016 to 2017 as the Executive Vice President for Equities. She was responsible for implementing investment funds’ investing strategies and managing their portfolio trading activities. In 2017, she co-founded M Academy China, an artist management company based in China and assumed the role of Chief Executive Officer. She was primarily responsible in planning and overseeing the business development of the company as well as handling the sourcing of artists and music ventures. She left M Academy China in 2020.
Upon returning to Malaysia in 2020, she joined Longhouse Films Sdn Bhd, a film investment and production company, as a Managing Director, a position she holds to-date. She is primarily responsible for planning and overseeing the corporate, financial and business development of the company. She also holds directorships and shareholdings in various other private limited companies, details of which are as set out in Section 4.2.4 of this Prospectus.
59
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATI
ON
ON
PR
OM
OTE
RS,
SU
BST
AN
TIA
L SH
AR
EHO
LDER
S, D
IREC
TOR
S A
ND
KEY
SEN
IOR
MA
NA
GEM
ENT
(CO
NT’
D)
59
Reg
istra
tion
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: 199
6010
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1-H
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4.2.
3 D
irect
ors’
sha
reho
ldin
gs
Th
e di
rect
and
indi
rect
sha
reho
ldin
gs o
f our
Dire
ctor
s be
fore
and
afte
r the
IPO
are
as
follo
ws:
Dire
ctor
s
N
atio
nalit
y
Bef
ore
the
IPO
/As
at th
e LP
D
Afte
r the
IPO
<-
-----D
irect
------
->
<----
---In
dire
ct---
------
> <-
------
--Dire
ct---
------
> <-
------
---In
dire
ct---
---->
N
o. o
f Sh
ares
%
(1)
No.
of
Shar
es
%(1
) N
o. o
f Sh
ares
%
(2)
No.
of
Shar
es
%(2
)
Yo
ng P
eng
Tak
Mal
aysi
an
- -
209,
639,
860(3
) 20
.42
- -
209,
639,
860(3
) 17
.77
Dat
uk G
rego
ry
Mal
aysi
an
- -
465,
672,
400(4
) 45
.37
- -
465,
672,
400(4
) 39
.46
Moh
d H
alim
Why
bin
Ab
dulla
h M
alay
sian
20
,000
,000
1.
95
- -
20,0
00,0
00
1.69
-
-
Sani
pah
bint
i San
usi
Mal
aysi
an
137,
500
0.01
-
- 13
7,50
0 0.
01
- -
Hen
g Ai
k C
hong
M
alay
sian
-
- -
- -
- -
-
Ya
ng C
hong
Yaw
Ala
n
Mal
aysi
an
- -
- -
- -
- -
Safin
a bi
nti M
ohd
Ali
Mal
aysi
an
- -
- -
- -
- -
Tan
Sik
Hui
M
alay
sian
-
- -
- -
- -
-
60
Reg
istra
tion
No.
: 199
6010
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)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
60
Reg
istra
tion
No.
: 199
6010
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)
Not
es:
(1
) Ba
sed
on th
e is
sued
sha
re c
apita
l of 1
,026
,346
,080
Sha
res
follo
win
g th
e Pr
e-IP
O R
estru
ctur
ing
Exer
cise
, det
ails
of w
hich
are
set
out
in
Sect
ion
5.1.
2 of
this
Pro
spec
tus.
(2
) Ba
sed
on th
e en
larg
ed is
sued
sha
re c
apita
l of 1
,180
,000
,000
Sha
res
upon
the
List
ing.
(3)
Dee
med
inte
rest
ed b
y vi
rtue
of h
is s
on, T
imot
hy Y
ong
Zhan
gwen
’s s
hare
hold
ing
and
his
shar
ehol
ding
in U
rban
first
and
Cen
tenn
ial S
alut
e pu
rsua
nt to
Sec
tion
8 of
the
Act.
(4
) D
eem
ed in
tere
sted
by
virtu
e of
his
sha
reho
ldin
g in
IHA
A C
apita
l pur
suan
t to
Sect
ion
8 of
the
Act.
61
Reg
istra
tion
No.
: 199
6010
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)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
61
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istra
tion
No.
: 199
6010
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4.2.
4 Pr
inci
pal b
usin
ess
activ
ities
and
dire
ctor
ship
s in
oth
er c
orpo
ratio
ns fo
r the
pas
t 5 y
ears
Save
as
disc
lose
d be
low
, non
e of
our
Dire
ctor
s ha
ve a
ny p
rinci
pal b
usin
ess
activ
ities
and
dire
ctor
ship
s in
any
oth
er c
orpo
ratio
ns o
utsi
de o
f our
G
roup
, at t
he p
rese
nt a
nd in
the
past
5 y
ears
pre
cedi
ng th
e LP
D:
(i)
Yo
ng P
eng
Tak
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as D
irect
or
Dat
e re
sign
ed
as D
irect
or
Dire
ct
inte
rest
(%)
Indi
rect
in
tere
st (%
) Pr
esen
t inv
olve
men
t: W
ellc
all
Hol
ding
s Be
rhad
In
vest
men
t hol
ding
(1)
Dire
ctor
1
April
201
5 -
- -
Fortr
ess(2
) As
set m
anag
emen
t
Dire
ctor
19
Nov
embe
r 20
02
- -
100.
00(2
)
Fortr
ess
Cap
ital
Advi
sory
Sdn
Bhd
In
vest
men
t re
sear
ch a
nd
advi
sory
ser
vice
s D
irect
or
18 M
ay 2
005
- -
100.
00(3
)
Fortr
ess
Cap
ital
Man
agem
ent
Inve
stin
g an
d its
rel
ated
ac
tiviti
es
Dire
ctor
and
sh
areh
olde
r 14
Nov
embe
r 20
02
- 70
.00
-
Cen
tenn
ial S
alut
e
Inve
stm
ent
hold
ing
in
shar
es
Dire
ctor
and
sh
areh
olde
r 8
Dec
embe
r 20
20
- 76
.13
-
Urb
anfir
st
Inve
stm
ent
hold
ing
in
shar
es
Dire
ctor
and
sh
areh
olde
r 12
Aug
ust 2
021
- 76
.13
-
62
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istra
tion
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4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
62
Reg
istra
tion
No.
: 199
6010
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)
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as D
irect
or
Dat
e re
sign
ed
as D
irect
or
Dire
ct
inte
rest
(%)
Indi
rect
in
tere
st (%
) Pa
st in
volv
emen
t: Su
cces
s D
rago
n In
tern
atio
nal
Hol
ding
s Li
mite
d(4)
Inve
stm
ent h
oldi
ng(4
) D
irect
or
6 Ap
ril 2
011
30 S
epte
mbe
r 20
18
- -
Dat
aspa
ce S
dn B
hd
Dor
man
t D
irect
or a
nd
shar
ehol
der
4 M
ay 2
020
15 J
une
2021
-
100
Fare
Ad
viso
rs
Sdn
Bhd
W
ound
Up
on 5
Apr
il 20
21
Dire
ctor
21
Apr
il 20
14
- -
39.0
0(5)
Fare
As
sets
1
Sdn
Bhd
Wou
nd U
p on
5 A
pril
2021
D
irect
or
21 A
pril
2014
-
- 39
.00(6
)
N
otes
: (1
) In
vest
men
t hol
ding
com
pany
, cur
rent
ly li
sted
on
the
Mai
n M
arke
t of B
ursa
Sec
uriti
es w
ith it
s su
bsid
iarie
s m
ainl
y in
volv
ed in
the
man
ufac
turin
g of
rubb
er h
ose
and
rela
ted
prod
ucts
, pro
perty
inve
stm
ent a
nd o
ther
rela
ted
activ
ities
and
man
ufac
turin
g, m
arke
ting
and
sale
of c
ompo
site
hos
e an
d fit
tings
. (2
) Yo
ng P
eng
Tak
is th
e fo
unde
r and
dire
ctor
of F
ortre
ss w
hich
man
ages
fund
s on
beh
alf o
f its
inve
stor
s w
ho m
ade
inve
stm
ents
in o
ur
Gro
up. D
eem
ed in
tere
sted
pur
suan
t to
Sect
ion
8 of
the
Act;
held
via
For
tress
Cap
ital M
anag
emen
t whi
ch in
turn
hol
ds 1
00%
in
Fortr
ess.
63
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istra
tion
No.
: 199
6010
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)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
63
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istra
tion
No.
: 199
6010
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)
(3)
Dee
med
inte
rest
ed p
ursu
ant t
o Se
ctio
n 8
of th
e Ac
t; he
ld v
ia F
ortre
ss C
apita
l Man
agem
ent w
hich
in tu
rn h
olds
100
% in
For
tress
C
apita
l Adv
isor
y Sd
n B
hd.
(4)
Inve
stm
ent h
oldi
ng c
ompa
ny in
corp
orat
ed in
Ber
mud
a an
d cu
rren
tly li
sted
on
the
Mai
n B
oard
of t
he S
tock
Exc
hang
e of
Hon
g Ko
ng
Lim
ited
with
its
subs
idia
ries
enga
ged
in th
e pr
ovis
ion
of o
utso
urce
d bu
sine
ss p
roce
ss m
anag
emen
t for
ele
ctro
nic
gam
ing
mac
hine
s in
Mac
au, p
rovi
sion
of i
nfor
mat
ion
tech
nolo
gy s
ervi
ce b
usin
ess
to V
ietn
am p
ari-m
utue
l sec
tor a
nd tr
adin
g of
pac
kagi
ng p
rodu
cts.
(5
) D
eem
ed in
tere
sted
pur
suan
t to
Sect
ion
8 of
the
Act;
held
via
For
tress
Cap
ital M
anag
emen
t whi
ch h
olds
100
% in
For
tress
whi
ch in
tu
rn h
olds
39%
in F
are
Adv
isor
s Sd
n Bh
d.
(6)
Dee
med
inte
rest
ed p
ursu
ant t
o Se
ctio
n 8
of th
e Ac
t; he
ld v
ia F
ortre
ss C
apita
l Man
agem
ent w
hich
hol
ds 1
00%
in F
ortre
ss w
hich
in
turn
hol
ds 3
9% in
Far
e As
sets
1 S
dn B
hd.
(ii
) D
atuk
Gre
gory
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as D
irect
or
Dat
e re
sign
ed
as D
irect
or
Dire
ct
inte
rest
(%)
Indi
rect
in
tere
st (%
)
Pres
ent i
nvol
vem
ent:
IHA
A C
apita
l In
vest
men
t hol
ding
D
irect
or a
nd
shar
ehol
der
8 D
ecem
ber
2020
-
39.8
7 -
Past
invo
lvem
ent:
Gre
ne R
esid
enci
a Sd
n Bh
d(1)
Oth
er s
ervi
ce a
ctiv
ities
D
irect
or
7 D
ecem
ber
2015
17
Sep
tem
ber
2021
-
-
Gre
nelig
ht H
ouse
Sdn
Bh
d
Oth
er s
ervi
ce a
ctiv
ities
D
irect
or
3 M
ay 2
017
12 J
uly
2020
-
-
64
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istra
tion
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4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
64
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istra
tion
No.
: 199
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1-H
)
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as D
irect
or
Dat
e re
sign
ed
as D
irect
or
Dire
ct
inte
rest
(%)
Indi
rect
in
tere
st (%
)
Ris
ing
Val
ley
Sdn
Bhd
Ac
tiviti
es
of
hold
ing
com
pani
es,
buyi
ng,
sellin
g,
rent
ing
and
oper
atin
g of
sel
f-ow
ned
or
leas
ed
real
es
tate
–
resi
dent
ial
build
ings
, ex
port
and
impo
rt of
a
varie
ty
of
good
s w
ithou
t an
y pa
rticu
lar
spec
ializ
atio
n
Dire
ctor
12
May
202
0 2
June
202
1 -
-
Hyp
erst
raits
Sdn
Bhd
O
ther
ser
vice
act
iviti
es
Dire
ctor
3
May
201
7
2 Ju
ne 2
021
- -
Knox
Met
ro L
and
Sdn
Bhd
C
onst
ruct
ion
of
build
ings
n.
e.c.
Dire
ctor
17
Feb
ruar
y 20
20
1 M
arch
202
1 -
-
Para
gon
Prom
enad
e Sd
n Bh
d
Prop
erty
de
velo
pmen
t, in
vest
men
t in
pr
oper
ties,
bu
ildin
g co
nstru
ctin
g
Dire
ctor
7
Dec
embe
r 20
15
25 O
ctob
er
2016
-
-
N
ote:
(1)
The
disp
osal
of G
rene
Res
iden
cia
Sdn
Bhd
was
com
plet
ed o
n 21
Sep
tem
ber 2
021.
65
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istra
tion
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: 199
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4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
65
Reg
istra
tion
No.
: 199
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0006
1-H
)
(iii)
Moh
d H
alim
Why
bin
Abd
ulla
h
Com
pany
C
urre
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sitio
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lutio
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Bh
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olde
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W
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an
Man
agem
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dn B
hd
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act
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agem
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to
colle
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serv
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char
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fund
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Sdn
Bhd
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NT’
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pany
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urre
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activ
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sitio
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Adm
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202
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V
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Sdn
Bh
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Prop
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Met
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and
Sdn
Bh
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Bin
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n Bh
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Maj
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sale
of
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prod
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May
202
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de
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201
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202
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W
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Dev
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Bhd
Pr
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4 Ap
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021
- -
N
ote:
(1
) Sh
areh
oldi
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prio
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strik
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off.
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MO
TER
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UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
68
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istra
tion
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(iv)
Yang
Cho
ng Y
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lan
Com
pany
C
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nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as D
irect
or
Dat
e re
sign
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or
Dire
ct
inte
rest
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nvol
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lcal
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ares
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Sdn
Bhd
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Oth
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her
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l or
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ts,
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entre
s
Dire
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and
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201
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lous
Loc
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Sdn
Bhd
Pr
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and
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entre
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2016
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Oct
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20
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ote:
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Inve
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mar
ketin
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le o
f com
posi
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and
fittin
gs.
69
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istra
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ATIO
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N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
69
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istra
tion
No.
: 199
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(v)
Hen
g Ai
k C
hong
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as
Dire
ctor
D
ate
resi
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as
Dire
ctor
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in
tere
st (%
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dire
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inte
rest
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Past
invo
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ent:
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M
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Solu
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Sdn
Bhd
To
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data
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mm
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and
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acce
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Dire
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21
May
201
5 31
Mar
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021
- -
NTT
MSC
Sdn
Bhd
Su
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and
ins
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of
tele
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mun
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eq
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the
prov
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Dire
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NTT
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Paci
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cons
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tions
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al
l its
fo
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Dire
ctor
27
Oct
ober
20
17
1 M
arch
202
1 -
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70
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istra
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No.
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ATIO
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MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
70
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as
Dire
ctor
D
ate
resi
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as
Dire
ctor
D
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in
tere
st (%
) In
dire
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inte
rest
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ensi
on
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a C
omm
unic
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n So
lutio
ns (M
) Sdn
Bhd
Dis
tribu
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and
serv
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mm
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d ot
her r
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ms
Dire
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1
Febr
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20
16
31 M
arch
202
1 -
-
Fusi
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Com
m.
Solu
tion
Sdn
Bhd
Pr
ovis
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of
info
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tech
nolo
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and
com
mun
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serv
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of
com
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and
softw
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ctor
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Febr
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20
16
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202
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-
Dat
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alay
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Sd
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unic
atio
ns
activ
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D
irect
or
27 J
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2015
31
Mar
ch 2
021
- -
71
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istra
tion
No.
: 199
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4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
71
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istra
tion
No.
: 199
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(vi)
Safin
a bi
nti M
ohd
Ali
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as D
irect
or
Dat
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sign
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as D
irect
or
Dire
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inte
rest
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rect
in
tere
st (%
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ent i
nvol
vem
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Prud
ent
Touc
h Sd
n Bh
d So
ftwar
e de
velo
per
and
cons
ulta
nts
in
info
rmat
ion
tech
nolo
gy
Shar
ehol
der
- -
74.0
0 -
72
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
72
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
(vii)
Ta
n Si
k H
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Com
pany
C
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nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
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irect
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irect
or
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ct
inte
rest
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rect
in
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st (%
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ent i
nvol
vem
ent:
MFG
E
nter
tain
men
t Sd
n Bh
d C
reat
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ar
ts
and
ente
rtain
men
t act
iviti
es
Dire
ctor
and
sh
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olde
r 30
Nov
embe
r 20
20
- 10
0.00
-
Past
invo
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ent:
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l Vie
w S
dn B
hd
Stru
ck o
ff on
8 J
une
2018
D
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or a
nd
shar
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991
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.00(1
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Pena
rik
Fish
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W
harf
Res
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Sd
n Bh
d
Stru
ck o
ff on
18
Janu
ary
2019
D
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or a
nd
shar
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der
13 A
pril
1993
-
2.50
(1)
-
N
ote:
(1
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areh
oldi
ngs
prio
r to
strik
ing
off.
73
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
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)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
73
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istra
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4.2.
5 In
volv
emen
t of o
ur E
xecu
tive
Dire
ctor
s in
oth
er b
usin
esse
s/co
rpor
atio
ns
Sa
ve a
s di
sclo
sed
in S
ectio
n 4.
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of t
his
Pros
pect
us,
our
Exec
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irect
ors
are
not
invo
lved
in
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r bu
sine
sses
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pora
tions
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volv
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f ou
r Ex
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Dire
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s in
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usin
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pera
tions
of
our
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re
prin
cipa
lly in
volv
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day-
to-d
ay o
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ttend
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and
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r adv
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ly im
pact
th
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bilit
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act
as
our E
xecu
tive
Dire
ctor
s.
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r bus
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ses
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ratio
ns in
whi
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tive
Dire
ctor
s ar
e al
so th
e di
rect
ors
are
eith
er in
volv
ed in
inve
stm
ent h
oldi
ng in
sha
res
or d
orm
ant.
Hen
ce, o
ur B
oard
is o
f the
vie
w th
at th
is w
ould
not
affe
ct th
eir c
ontri
butio
n an
d pe
rform
ance
in o
ur G
roup
.
74
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istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
74
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istra
tion
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: 199
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)
4.2.
6 D
irect
ors’
rem
uner
atio
n an
d m
ater
ial b
enef
its in
-kin
d
Th
e de
tails
of t
he re
mun
erat
ion
and
mat
eria
l ben
efits
in-k
ind
paid
and
pro
pose
d to
be
paid
to o
ur D
irect
ors
for s
ervi
ces
rend
ered
to o
ur G
roup
in
all c
apac
ities
for t
he F
YE 3
1 D
ecem
ber 2
020
and
FYE
31
Dec
embe
r 202
1 ar
e as
follo
ws:
FYE
31 D
ecem
ber 2
020
(A
ctua
l)
Dire
ctor
s’
fees
B
asic
sa
lary
B
onus
es
Allo
wan
ces
Stat
utor
y co
ntrib
utio
ns
(EPF
and
SO
CSO
) B
enef
its-in
-kin
d To
tal
RM
’000
R
M’0
00
RM
’000
R
M’0
00
RM
’000
R
M’0
00
RM
’000
Ex
ecut
ive
Dire
ctor
s
Dat
uk G
rego
ry
- 38
4 -
- 47
-
431
Moh
d H
alim
Why
bin
Abd
ulla
h(1)
- 28
8 -
- 35
-
323
Sani
pah
bint
i San
usi(2
) -
156
- -
20
- 17
6
Non
-Exe
cutiv
e D
irect
ors
Yong
Pen
g Ta
k -
- -
- -
- -
Hen
g Ai
k C
hong
-
- -
- -
- -
Yang
Cho
ng Y
aw A
lan
- -
- -
- -
-
Safin
a bi
nti M
ohd
Ali
- -
- -
- -
-
Tan
Sik
Hui
-
- -
- -
- -
75
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
75
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istra
tion
No.
: 199
6010
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9 (4
0006
1-H
)
FYE
31 D
ecem
ber 2
021
(Pro
pose
d)
Dire
ctor
s’
fees
B
asic
sa
lary
B
onus
es(3
) Al
low
ance
s
Stat
utor
y co
ntrib
utio
ns
(EPF
and
SO
CSO
) B
enef
its-in
-kin
d
Tota
l R
M’0
00
RM
’000
R
M’0
00
RM
’000
R
M’0
00
RM
’000
R
M’0
00
Exec
utiv
e D
irect
ors
Dat
uk G
rego
ry
- 38
4 -
- 47
9
440
Moh
d H
alim
Why
bin
Abd
ulla
h -
288
- -
35
- 32
3
Sani
pah
bint
i San
usi
- 15
6 -
- 20
-
176
Non
-Exe
cutiv
e D
irect
ors
Yong
Pen
g Ta
k 15
0 -
- 2
- 8
160
Hen
g Ai
k C
hong
33
-
- 2
- -
35
Yang
Cho
ng Y
aw A
lan
33
- -
2 -
- 35
Safin
a bi
nti M
ohd
Ali
33
- -
2 -
- 35
Tan
Sik
Hui
33
- -
2 -
- 35
76
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
76
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
Not
es:
(1
) M
ohd
Hal
im W
hy b
in A
bdul
lah
was
pre
viou
sly
appo
inte
d as
a D
evel
opm
ent A
dvis
or o
f our
Gro
up u
ntil J
anua
ry 2
021.
He
was
then
app
oint
ed
as a
n Ex
ecut
ive
Dire
ctor
of o
ur G
roup
in J
anua
ry 2
021.
(2
) Sa
nipa
h bi
nti S
anus
i was
pre
viou
sly
appo
inte
d as
an
Assi
stan
t Gen
eral
Man
ager
of o
ur G
roup
unt
il Ju
ne 2
021.
She
was
then
app
oint
ed
as a
n Ex
ecut
ive
Dire
ctor
of o
ur G
roup
in J
uly
2021
. (3
) Fi
nal b
onus
es w
ill be
det
erm
ined
late
r bas
ed o
n th
e in
divi
dual
’s p
erfo
rman
ce a
s w
ell a
s ou
r Gro
up’s
per
form
ance
at t
he ti
me
of a
sses
smen
t.
The
rem
uner
atio
n w
hich
incl
udes
our
Dire
ctor
s’ s
alar
ies,
bon
uses
, fe
es a
nd a
llow
ance
as
wel
l as
othe
r be
nefit
s of
our
Dire
ctor
s, m
ust
be
cons
ider
ed a
nd re
com
men
ded
by th
e R
emun
erat
ion
Com
mitt
ee a
nd s
ubse
quen
tly, b
e ap
prov
ed b
y ou
r Boa
rd. O
ur D
irect
ors’
fees
and
/or b
enef
its
mus
t be
furth
er a
ppro
ved
by o
ur s
hare
hold
ers
at a
gen
eral
mee
ting.
77
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
77
Registration No.: 199601027709 (400061-H)
4.3 BOARD PRACTICES
4.3.1 Directorship
As at the LPD, the details of the date of expiration of the current term of office for each of the Directors and the period for which the Directors have served in that office are as follows:
Name Designation Date of
appointment
Date of expiration of the current term in
office
No. of year(s) in
office Yong Peng Tak
Non-Independent Non-Executive Chairman
9 July 2021 Subject to retirement at the
AGM in year 2022
Less than 1 year
Datuk Gregory
Managing Director 11 November 2015
Subject to retirement at the
AGM in year 2022
Less than 6 years
Mohd Halim Why bin Abdullah
Executive Director 22 January 2021
Subject to retirement at the
AGM in year 2022
Less than 1 year
Sanipah binti Sanusi
Executive Director 9 July 2021 Subject to retirement at the
AGM in year 2022
Less than 1 year
Heng Aik Chong
Senior Independent Non-Executive Director
3 August 2021 Subject to retirement at the
AGM in year 2022
Less than 1 year
Yang Chong Yaw Alan
Independent Non-Executive Director
3 August 2021 Subject to retirement at the
AGM in year 2022
Less than 1 year
Safina binti Mohd Ali
Independent Non-Executive Director
3 August 2021 Subject to retirement at the
AGM in year 2022
Less than 1 year
Tan Sik Hui Independent Non-
Executive Director 3 August 2021 Subject to
retirement at the AGM in year
2022
Less than 1 year
78
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
78
Registration No.: 199601027709 (400061-H)
In accordance with the Company’s Constitution, all Directors shall retire from office at the first annual general meeting and an election of Directors shall take place every year. At every subsequent annual general meeting, 1/3 of the Directors who are subject to retirement by rotation for the time being or if their number is not 3 or a multiple of 3, then the number nearest to 1/3 shall retire from office and be eligible for re-election, provided that all Directors shall retire from office once at least in every 3 years. A retiring Director shall be eligible for re-election. A Director retiring at a meeting shall retain office until the conclusion of the meeting. Our Directors who are deemed as independent directors, as defined in the Listing Requirements, shall be subject to annual re-appointment by Members as defined by the Malaysian Code on Corporate Governance and such other relevant law, regulation or guideline. Our Directors to retire every year shall be those who have been longest in office since their last election, but as between persons who became Directors on the same day, those to retire shall (unless they otherwise agree among themselves) be determined by lot. The length of time a Director has been in office shall be computed from his last election or appointment when he has previously vacated office. A Director appointed by our Board to fill in a casual vacancy or as an addition to our existing Board, shall hold office only until the next AGM of our Company and shall then be eligible for re-election.
4.3.2 Audit Committee
Our Audit Committee was established on 4 August 2021 and its members are appointed by our Board. Our Audit Committee comprises the following members:
Name Designation Directorship Yang Chong Yaw Alan Chairman Independent Non-Executive Director
Heng Aik Chong Member Senior Independent Non-Executive Director
Safina binti Mohd Ali Member Independent Non-Executive Director
79
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
79
Registration No.: 199601027709 (400061-H)
The main functions of our Audit Committee is to assist our Board in fulfilling its responsibility on the oversight of the integrity of our Group’s accounting and financial reporting matters. The Audit Committee’s duties and responsibilities as stated in its terms of reference include, among others, the following:
(a) to oversee financial reporting process; (b) to review the engagement, compensation, performance, qualifications and
independence of our external auditors, its conduct of the annual statutory audit of our financial statements, and the engagement of external auditors for all other services;
(c) to review and approve our quarterly and annual financial statements for
recommendation to our Board, focusing in particular on any changes in or implementation of major accounting policies and practices, significant and unusual events, significant adjustments arising from the audit, going concern assumption and compliance with accounting standards and other regulatory or legal requirements;
(d) to review any related party transactions entered into by our Group and any conflict
of interest situations that may arise within our Group;
(e) to ensure that the internal audit function is effective and able to function independently;
(f) to approve any appointment or termination of the internal auditor; (g) to evaluate the performance of the internal audit personnel; (h) to ensure that there is co-ordination between internal and external auditors;
(i) to review annually the allocation of options/shares granted pursuant to the
Employees’ Share Option Scheme (“ESOS”) or Employee Share Grant Plan (“ESGP”), if any;
(ii) to verify at the end of each financial year the allocation of options/shares
granted pursuant to the ESOS/ESGP in compliance with the criteria as stipulated in the by-law of ESOS/ESGP of the Group, if any.
(i) to consider the major findings of internal investigations and management’s
response; and (j) to perform such other functions as may be requested by our Board.
The recommendations of our Audit Committee are subject to the approval of our Board. Our Nominating Committee will review the composition, performance and effectiveness of our Audit Committee annually.
80
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
80
Registration No.: 199601027709 (400061-H)
4.3.3 Risk Management Committee
Our Risk Management Committee was established on 4 August 2021 and its members are appointed by our Board. Our Risk Management Committee comprises the following members:
Name Designation Directorship Heng Aik Chong Chairman Senior Independent Non-Executive Director
Yang Chong Yaw Alan Member Independent Non-Executive Director
Safina binti Mohd Ali Member Independent Non-Executive Director
Our Board together with management takes responsibility for the governance of sustainability in our company including setting the company’s sustainability strategies, priorities and targets. Our Board has the overall responsibility for risk oversight and risk management within our Group. However, as a committee of our Board, our Risk Management Committee shall lead our strategic direction in the management of our business and sustainability risks and opportunity, including oversight on the establishment and implementation of a risk management framework and reviewing the effectiveness of the risk management framework in identifying and managing risks and internal processes which include but are not limited to ensuring the adequacy of risk management policy and infrastructure to facilitate the implementation of action plans for risk management.
The objectives of the framework are to ensure the provision of quality product and services and monitor the risk culture and processes throughout our Group to take advantage of opportunities while managing climate-related risks that may adversely affect our reputation and achievement of business objectives.
81
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
81
Registration No.: 199601027709 (400061-H)
The duties and responsibilities as stated in the terms of reference of our Risk Management Committee include the following:
(a) to oversee and recommend the risk management policies and procedures of our
Group; (b) to review and recommend changes as needed to ensure that our Group has in
place at all times a risk management policy which addresses the strategic, operational, financial, compliance and sustainability risks;
(c) to implement and maintain a sound risk management framework which identifies,
assesses, manages and monitors our Group’s business and sustainability risks; (d) to set reporting guidelines for management to report to the committee on the
effectiveness of our Group’s management of its business and sustainability risks; (e) to review the risk profile of our Group including all our subsidiaries and to evaluate
the measures taken to mitigate the business and sustainability risks; (f) to review the adequacy of management response to issues identified in risk
registers, ensuring that our risks are managed within our Group’s risk appetite; (g) to provide awareness and education on risk management to all level of the Group;
and (h) to oversee any investigation of activities which are within its terms of reference. The recommendations of our Risk Management Committee are subject to the approval of our Board.
82
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
82
Registration No.: 199601027709 (400061-H)
4.3.4 Nomination Committee
Our Nomination Committee was established on 4 August 2021 and its members are appointed by our Board. Our Risk Management Committee comprises the following members:
Name Designation Directorship Heng Aik Chong Chairman Senior Independent Non-Executive Director
Yang Chong Yaw Alan Member Independent Non-Executive Director
Tan Sik Hui Member Independent Non-Executive Director
The Nomination Committee’s duties and responsibilities as stated in its terms of reference include, among others, the following:
(a) to assist our Board in ensuring that our Board is of an effective composition, size
and commitment to adequately discharge its responsibilities and duties; (b) to ensure appropriate selection criteria and processes and to identify and
recommend to our Board, candidates for directorships of our Company and members of the relevant Board committees;
(c) to ensure sufficient diversity and independence in the Board in order to achieve
greater depth and breadth in the decision making process; (d) to evaluate the effectiveness of our Board and the relevant Board committees; (e) to establish the mechanisms for the formal assessment on the effectiveness of the
Board as a whole and the effectiveness of each Director and senior management. The annual assessment to be conducted would be based on objective performance criteria approved by our Board;
(f) to ensure that all Directors receive appropriate continuous training in order to
broaden their perspectives and to keep abreast with developments in the market place and the changes in new statutory and regulatory requirements;
(g) to assess the independence of our Independent Non-Executive Directors and their
ability to discharge their responsibilities or functions and exercise of the independent judgement or the ability to act in the best interest of the Company;
83
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
83
Registration No.: 199601027709 (400061-H)
(h) to review on annual basis, the length of service of each Independent Non-Executive Director. The tenure of each Independent Non-Executive Director shall not exceed a term limit of 9 years. For Independent Director whose cumulative tenure has exceeded 9 years, to review his independence and if deemed appropriate for continuance in the office, to provide justification to the Board for consideration and seek annual shareholders' approval through a two-tier voting process;
(i) to ensure that the composition of the Board is refreshed periodically. To review the
tenure of each director and annual re-election of a director, which should be contingent on satisfactory evaluation of the director’s performance and contribution to the board and to consider and recommend to the Board concerning the re-election/re-appointment of Director to the Board pursuant to the provisions in the Company’s Constitution;
(j) to assist our Board to assess and evaluate circumstances where a Director’s
involvement outside our Group may give rise to a potential conflict of interest with our Group’s businesses, upon receiving declaration of the same from our Director and thereafter, to inform our Audit Committee of the same. After deliberation with our Audit Committee, to recommend to our Board the necessary actions to be taken in circumstances where there is a conflict of interest; and
(k) to ensure an appropriate framework and succession planning for our Board,
including our Group Managing Director, Executive Directors and senior management.
The recommendations of our Nominating Committee are subject to the approval of our Board.
4.3.5 Remuneration Committee
Our Remuneration Committee was established on 4 August 2021 and its members are appointed by our Board. Our Remuneration Committee comprises the following members:
Name Designation Directorship Tan Sik Hui Chairman Independent Non-Executive Director
Heng Aik Chong Member Senior Independent Non-Executive Director
Yang Chong Yaw Alan Member Independent Non-Executive Director
84
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
84
Registration No.: 199601027709 (400061-H)
The main function of our Remuneration Committee is to support our Board in actively overseeing the design and operation of the Group’s remuneration system to ensure corporate accountability and governance. The Remuneration Committee’s duties and responsibilities as stated in its terms of reference include, among others, the following:
(a) to develop and administer a fair and transparent remuneration policy and
procedure, including the fee structure and level of remuneration for Directors and senior management, taking into account the demands, complexities and performance of the Company in managing material sustainability risks and opportunities as well as skills and experience required. The Board determines who makes up senior management and if any other group of employees should be covered by the remuneration policy and procedures. The policy and procedure shall be reviewed periodically to ensure relevance to the Group;
(b) to recommend a remuneration framework for our Managing Director, Executive
Directors and senior management for our Board’s approval to ensure corporate accountability, in managing material sustainability risks and opportunities and governance with respect to our Board’s remuneration and compensation. There should be a balance in determining the remuneration package, which should be sufficient to attract and retain Directors of calibre, and yet not excessive. The framework should cover all aspects of remuneration including Director’s fee, salaries, allowance, bonuses, options and benefits-in-kind;
(c) to recommend specific remuneration packages for our Managing Director,
Executive Directors and senior management. The remuneration package should be structured such that it is competitive. Salary scales drawn up should be within the scope of the general business policy and not be dependent on short-term performance to avoid incentives for excessive risk-taking. As for Independent Directors, the level of remuneration should be linked to their level of expertise, commitment and responsibilities undertaken and contribution to the effective functioning of our Board, with or without other independent professional advice or other outside advice, with reference to the Company’s remuneration policy and procedure;
(d) when recommending the fee and other benefits for the Independent Directors, our
Remuneration Committee shall ensure it does not conflict with the Independent Directors’ obligation to bring objectivity and independent judgment on matters discussed at Board meetings;
(e) to ensure the establishment of a formal and transparent procedure for developing
policies, strategies and framework for the remuneration of our Managing Director, Executive Directors and senior management;
(f) to implement the policies and procedures on remuneration including reviewing and
recommending matters relating to the remuneration of our Board and Key Senior Management; and
(g) to perform any other functions as defined by our Board.
The recommendations of our Remuneration Committee are subject to the approval of our Board.
85
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istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
85
Reg
istra
tion
No.
: 199
6010
2770
9 (4
0006
1-H
)
4.4
KEY
SEN
IOR
MAN
AGEM
ENT
4.4.
1 K
ey S
enio
r Man
agem
ent’s
sha
reho
ldin
gs
Th
e de
tails
of o
ur K
ey S
enio
r Man
agem
ent a
nd th
eir d
irect
and
indi
rect
sha
reho
ldin
gs b
efor
e an
d af
ter t
he IP
O a
re a
s fo
llow
s:
Key
Sen
ior
Man
agem
ent
Des
igna
tion
Nat
iona
lity
Bef
ore
the
IPO
/As
at th
e LP
D
Afte
r the
IPO
<-
------
Dire
ct---
----->
<-
------
Indi
rect
------
->
<----
---D
irect
------
-->
<----
--Ind
irect
------
> N
o. o
f Sh
ares
%
(1)
No.
of
Shar
es
%(1
) N
o. o
f Sh
ares
%
(2)
No.
of
Shar
es
%(2
)
Tang
Wai
Hoo
ng
Fina
ncia
l C
ontro
ller
Mal
aysi
an
708,
200
0.07
-
- 70
8,20
0 0.
06
- -
O
ng S
uan
Suan
G
ener
al
Man
ager
M
alay
sian
29
3,40
0 0.
03
- -
293,
400
0.02
-
-
H
alid
bin
Abd
ul
Ras
hid
Proj
ect
Dire
ctor
M
alay
sian
2,
177,
100
0.21
-
- 2,
177,
100
0.18
-
-
N
otes
:
(1)
Base
d on
our
issu
ed s
hare
cap
ital o
f 1,0
26,3
46,0
80 S
hare
s as
at t
he L
PD.
(2)
Base
d on
the
enla
rged
issu
ed s
hare
cap
ital o
f 1,1
80,0
00,0
00 S
hare
s up
on th
e Li
stin
g.
86
Registration No.: 199601027709 (400061-H)
4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
86
Registration No.: 199601027709 (400061-H)
4.4.2 Profiles
The profiles of the Key Senior Management of our Group are as follows:
(i) Tang Wai Hoong
Tang Wai Hoong, a Malaysian, aged 39, is our Financial Controller. He is responsible for overseeing the overall finance and accounting matters of our Group. He obtained his Diploma in Accounting from Stamford College Malaysia in 2002 and subsequently graduated with a Bachelor of Arts in Accountancy and Finance from the University of Abertay Dundee, United Kingdom in 2006. He has been a member of the Association of Chartered Certified Accountants since 2017 and a member of the Malaysian Institute of Accountants since 2017. In 2005, he began his career in Grant Thornton Malaysia, as an Audit Associate in the Audit and Assurance Department. He was subsequently promoted to be a Semi Senior Audit Associate in 2007, a Senior Associate in 2008, an Acting Supervisor in 2009, a Supervisor in 2010 and an Assistant Manager in the same year, all under the Audit and Assurance Department. In 2011, he left Grant Thornton Malaysia to take a career break for several months and subsequently rejoined Grant Thornton Malaysia in the same year wherein he assumed the role of Manager in the Audit and Assurance Department. In 2013, he was promoted twice to be the Senior Manager and the Principal in the Audit and Assurance Department in the same year. In 2017, he was promoted again to be a Director in the Audit and Assurance Department. During his tenure in Grant Thornton Malaysia, he was involved in various audit assignments of companies in the manufacturing, commercial, construction, trading and services industries as well as conducting financial due diligence review for corporate proposals. He was also part of the reporting accountant team that participated in initial public offerings works and various fundraising exercises in the capital market. In 2019, he left Grant Thornton Malaysia. In 2019, he joined our Group as Financial Controller and assumed his current role since. Over the years, he has garnered approximately 14 years of experience working in the audit and assurance industry.
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(ii) Ong Suan Suan Ong Suan Suan, a Malaysian, aged 55, is our General Manager. She is responsible for the credit management functions for our Group. She has approximately 35 years in audit, preparing working papers for banking and trade facilities, company secretarial-related activities, as well as business analytics She completed her STPM at Sekolah Menengah Penang Free, Pulau Pinang in 1985. She was a member of the Malaysian Association of Certified Public Accountants since 1995 up to 2017. She is a Chartered Accountant under the Malaysian Institute of Accountants since 2001 and also a member of the Asean Chartered Professional Accountants since 2019. She began her career in 1986 with KPMG Peat Marwick (now known as KPMG PLT), as an Articled Clerk and was subsequently promoted to be an Audit Senior in 1990. During her tenure in KPMG Peat Marwick, she was primarily responsible for handling the audit of various companies from small companies to public listed companies of from various industries. She left KPMG Peat Marwick in 1990 and took a career break.
In 1991, she joined PwC as an Audit Senior where she was primarily responsible for audit and due diligence work for various manufacturing companies. She left PwC in 1993 and worked with Public Packages Holdings Berhad from 1993 to 1995 as an Assistant to the Group Finance Manager where her responsibilities included assisting the Group Finance Manager in preparation of consolidated accounts as well as handling corporate finance, company secretarial and legal matters. Subsequently, in 1995, she joined Digi Telecommunications Sdn Bhd (formerly known as Mutiara Telecommunications Sdn Bhd) as the Finance and Business Control Manager in the northern regional office, in which she was primarily responsible in overseeing the business and financial operations of the company. In the same year, she was promoted to be the Head of Finance in the northern regional office. Subsequently, in 2009 she was promoted to be the Principal in Business Development in the northern regional office before her departure in 2011. From 2011 to 2012, she worked with Packet One Networks (Malaysia) Sdn Bhd as an Associate Director in the Financial Accounting and Taxation Department. She was primarily responsible for managing the financial, accounting and taxation matters of the company as well as overseeing the implementation of finance processes in the company. From 2012 to 2013, she worked with RHB Bank Berhad as an Assistant Vice President in Finance Division where she was part of the team that handled the annual budget preparation of the bank and was responsible for segmental reporting. She subsequently joined Travelex Malaysia Sdn Bhd as Finance Manager in 2013 and was primarily responsible for management reporting and credit management.
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In 2014, she left Travelex Malaysia Sdn Bhd and joined Paragrene Land and she assumed the role of General Manager until present. Between 2014 and 2019, she assisted Datuk Gregory, who was then the Financial Controller and Director in Financial Planning, in managing and monitoring financial report preparation and tax matters. In 2019, she assumed her present responsibilities in focusing on credit management for our Group.
(iii) Halid bin Abdul Rashid
Halid bin Abdul Rashid, a Malaysian, aged 54, is our Project Director. He is responsible for overseeing the Project Management Department of the Group and is responsible for the overall administration of our property development operations. He has approximately 30 years of experience in project management. He graduated with a Degree of Associate of General Studies from Indiana University Malaysia in August 1987 and subsequently obtained his Bachelor of Science in Mechanical Engineering from the University of Arizona, United States of America in 1990. He is a registered member of the Board of Engineers, Malaysia since 1997.
He began his career in 1990 with Chunghwa Picture Tube Components Sdn Bhd as an engineer where he was primarily involved in assisting with the setting up of a factory. He left Chunghwa Picture Tube Components Sdn Bhd in 1992. From 1993 to 1996, he worked with Malaysia Mining Corporation Berhad as a Mechanical Engineer in the Project Management Department where he was primarily responsible in assisting the project manager with planning, organising and directing the completion of a project relating to the Danavision production facilities. In 1996, he joined Gold Bridge Engineering and Construction Berhad as a Mechanical and Electrical Project Manager in the Project Management Department, in which he was primarily responsible for planning, organising and directing the completion of construction projects. He was subsequently redesignated to be Mechanical and Electrical Manager in 1997. Subsequently, from 2003 to 2007, he worked with PGL Sdn Bhd as the Site Mechanical and Electrical Manager in the Project Department and his role included overseeing the mechanical and electrical construction related activities at sites. From 2007 to 2009, he worked with Homeland Consultants Ltd and assumed the role of a Manager for Construction Audit in Mechanical and Electrical Department. During his employment in Homeland Consultants Ltd, he was primarily responsible in handling the appointment of contractors, project scheduling, quality control, reviewing building designs and liaising with consultants of projects.
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From 2009 to 2010, he worked with Pembinaan BLT Sdn Bhd as Assistant Manager in the Design Management Department and he was subsequently promoted to the role of Manager in 2010 where he was primarily responsible for handling design, quality control, tender and contract activities. He worked with Pembinaan BLT Sdn Bhd in 2010. From 2010 to 2011, he joined Malaysian Rubber Board as Property Development Manager in the Property Development Department. He was primarily responsible for overseeing the development of a land in Sungai Buloh. From 2012 to 2015, he worked with Stream Environment Sdn Bhd as Project Manager. He was primarily responsible for project implementation activities. Upon leaving Stream Environment Sdn Bhd, he took a short career break while continuing assisting Stream Environment Sdn Bhd with the handover of tasks to a new project manager before joining Maxi Sphere Sdn Bhd as Project Director in Project Department in 2015. He was primarily responsible in overseeing the construction and contract related activities. He left Maxi Sphere Sdn Bhd in 2018. He joined Paragrene Land in 2019, assuming the role as the Project Director in which he is responsible for leading the Project Management Department of our Group to undertake project management activities, which includes project planning and management of construction activities undertaken by contractors. His interests in other businesses are set out in Section 4.4.3 of this Prospectus.
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0006
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4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
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istra
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4.4.
3 In
volv
emen
t of K
ey S
enio
r Man
agem
ent i
n ot
her b
usin
esse
s/co
rpor
atio
ns
Sa
ve a
s di
sclo
sed
belo
w, o
ur K
ey S
enio
r M
anag
emen
t are
not
invo
lved
in o
ther
prin
cipa
l bus
ines
s ac
tiviti
es o
utsi
de o
ur G
roup
for
the
past
5
year
s pr
ior t
o th
e LP
D:
(i)
H
alid
bin
Abd
ul R
ashi
d
Com
pany
C
urre
nt p
rinci
pal
activ
ities
Po
sitio
n he
ld
Dat
e ap
poin
ted
as D
irect
or
Dat
e re
sign
ed
as D
irect
or
Dire
ct
inte
rest
(%)
Indi
rect
in
tere
st (%
)
Pres
ent i
nvol
vem
ent:
Azi
z D
esig
n Se
rvic
es
Sdn
Bhd
Softw
are
deve
lopm
ent,
vide
o st
ream
ing
serv
ices
, IT
cons
ulta
ncy
and
gene
ral t
radi
ng
Dire
ctor
(r
esig
ned)
an
d sh
areh
olde
r
9 O
ctob
er 2
015
13 J
uly
2020
24
.75
-
Past
invo
lvem
ent:
Max
i Sph
ere
Sdn
Bhd
W
ound
Up
on 8
Jun
e 20
21
Dire
ctor
15
Apr
il 20
15
5 Se
ptem
ber
2017
-
-
Th
e in
volv
emen
t of H
alid
bin
Abd
ul R
ashi
d in
the
abov
esai
d co
mpa
ny w
ill no
t affe
ct h
is c
ontri
butio
n to
our
Gro
up a
nd w
ould
not
be
expe
cted
to
affe
ct h
is e
xecu
tive
role
s an
d re
spon
sibi
litie
s to
our
Gro
up a
s th
e ab
ovem
entio
ned
invo
lvem
ent i
n ot
her
busi
ness
act
iviti
es d
oes
not
requ
ire h
is in
volv
emen
t on
a da
y-to
-day
bas
is. F
urth
er, t
his
does
not
giv
e ris
e to
any
con
flict
of i
nter
est w
ith o
ur b
usin
ess.
He
has
and
will
co
ntin
ue to
ens
ure
that
he
wou
ld b
e ab
le to
fulfi
ll an
d di
scha
rge
his
dutie
s an
d re
spon
sibi
litie
s in
our
Gro
up e
ffect
ivel
y.
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istra
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4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
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istra
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4.4.
4 K
ey S
enio
r Man
agem
ent’s
rem
uner
atio
n an
d m
ater
ial b
enef
its-in
-kin
d
Th
e ag
greg
ate
rem
uner
atio
n an
d m
ater
ial b
enef
its in
-kin
d pa
id a
nd p
ropo
sed
to b
e pa
id to
our
Key
Sen
ior M
anag
emen
t for
ser
vice
s re
nder
ed to
ou
r Gro
up in
all
capa
citie
s fo
r the
FYE
31
Dec
embe
r 202
0 an
d FY
E 3
1 D
ecem
ber 2
021
are
as fo
llow
s:
Rem
uner
atio
n ba
nd
Key
Sen
ior M
anag
emen
t FY
E 31
Dec
embe
r 202
0 R
M’0
00
Prop
osed
for F
YE 3
1 D
ecem
ber 2
021(1
)
RM
’000
Ta
ng W
ai H
oong
20
0 - 2
50
200
- 250
Ong
Sua
n Su
an
150
- 200
15
0 - 2
00
Hal
id b
in A
bdul
Ras
hid
250
- 300
25
0 - 3
00
Not
e:
(1
) Bo
nuse
s, i
f an
y, w
ill b
e de
term
ined
lat
er b
ased
on
the
indi
vidu
al’s
per
form
ance
as
wel
l as
our
Gro
up’s
per
form
ance
at
the
time
of
asse
ssm
ent.
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istra
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4.
INFO
RM
ATIO
N O
N P
RO
MO
TER
S, S
UB
STAN
TIAL
SH
AREH
OLD
ERS,
DIR
ECTO
RS
AND
KEY
SEN
IOR
MAN
AGEM
ENT
(CO
NT’
D)
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4.4.
5 M
anag
emen
t Rep
ortin
g St
ruct
ure
The
man
agem
ent r
epor
ting
stru
ctur
e of
our
Gro
up is
as
follo
ws:
Dat
uk G
rego
ry
Man
agin
g D
irect
or
Sani
pah
bint
i Sa
nusi
Exec
utiv
e D
irect
or
Moh
d H
alim
W
hy b
in
Abdu
llah
Exec
utiv
e D
irect
or
Tang
Wai
H
oong
Fina
ncia
l C
ontr
olle
r
Ong
Sua
n Su
an
Gen
eral
M
anag
er
Hal
id b
in A
bdul
R
ashi
d
Proj
ect
Dire
ctor
H
uman
R
esou
rce,
Ad
min
istr
atio
n,
Lega
l and
C
ompl
ianc
e D
epar
tmen
t
Proj
ect
Dev
elop
men
t D
epar
tmen
t
Auth
oriti
es
Liai
son
and
Tend
er
Dep
artm
ent
Cre
dit
Adm
inis
trat
ion
Dep
artm
ent
Proj
ect
Man
agem
ent
Dep
artm
ent
Fina
nce
Dep
artm
ent
Boa
rd o
f D
irect
ors
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4. INFORMATION ON PROMOTERS, SUBSTANTIAL SHAREHOLDERS, DIRECTORS AND
KEY SENIOR MANAGEMENT (CONT’D)
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4.5 DECLARATIONS FROM OUR PROMOTERS, DIRECTORS AND KEY SENIOR MANAGEMENT None of our Promoters, Directors and Key Senior Management is or was involved in any of the following events, whether within or outside Malaysia:
(i) in the last 10 years, a petition under any bankruptcy or insolvency laws was filed (and
not struck out) against such person or any partnership in which he/she was a partner or any corporation of which he/she was a director or member of Key Senior Management; or
(ii) disqualified from acting as a director of any corporation, or from taking part directly or
indirectly in the management of any corporation; or (iii) in the last 10 years, charged or convicted in a criminal proceeding or is a named subject
of a pending criminal proceeding; or (iv) in the last 10 years, any judgement was entered against him/her, or finding of fault,
misrepresentation, dishonesty, incompetence or malpractice on his/her part, involving a breach of any law or regulatory requirement that relates to the capital market; or
(v) in the last 10 years, he/she was the subject of any civil proceeding, involving an
allegation of fraud, misrepresentation, dishonesty, incompetence or malpractice on his/her part that relates to the capital market; or
(vi) being the subject of any order, judgment or ruling of any court, government, or
regulatory authority or body temporarily enjoining him/her from engaging in any type of business practice or activity; or
(vii) in the last 10 years, he/she has been reprimanded or issued any warning by any regulatory authority, securities or derivatives exchange, professional body or government agency; or
(viii) any unsatisfied judgment against him/her.
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4.6 FAMILY RELATIONSHIPS AND ASSOCIATIONS Save as disclosed below, there is no family relationships and/or associations between any of
our Promoters, substantial shareholders, Directors and Key Senior Management as at the LPD:
Name Position Relationship Yong Peng Tak Non-Independent Non-
Executive Chairman
Substantial shareholder of our Company(1)
Director and Substantial
shareholder of Fortress Director and Substantial
shareholder of Centennial Salute
Director and Substantial shareholder of Urbanfirst
Brother-in-law of Lim Pheck Joo
Father of Timothy Yong Zhangwen and Charlotte Yong Zhanghui
Lim Pheck Joo Promoter and Substantial
shareholder(2) of our Company
Sister-in-law of Yong Peng Tak
Aunt of Timothy Yong Zhangwen and Charlotte Yong Zhanghui
Timothy Yong Zhangwen
Substantial shareholder of our Company(3)
Director and Substantial shareholder of Urbanfirst
Son of Yong Peng Tak
Brother of Charlotte Yong Zhanghui
Nephew of Lim Pheck Joo
Charlotte Yong Zhanghui
Substantial shareholder of our Company(4)
Director and Substantial shareholder of Centennial Salute
Daughter of Yong Peng Tak
Sister of Timothy Yong Zhangwen
Niece of Lim Pheck Joo
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Notes: (1) Deemed interested by virtue of his son, Timothy Yong Zhangwen’s shareholding in
Paragrene Land and his shareholding in Urbanfirst and Centennial Salute pursuant to Section 8 of the Act.
(2) Deemed interested by virtue of her shareholding in IHAA Capital pursuant to Section 8 of the Act.
(3) Interested by virtue of his direct interest in Paragrene Land and deemed interested by
virtue of his shareholdings in Urbanfirst pursuant to Section 8 of the Act.
(4) Deemed interested by virtue of her shareholdings in Centennial Salute pursuant to Section 8 of the Act.
4.7 SERVICE AGREEMENTS
As at the LPD, none of our Directors and/or Key Senior Management has any existing or proposed service agreements with our Group.
4.8 MANAGEMENT SUCCESSION PLAN
Our Group has implemented a management succession plan, where we have put in place a process to groom middle management staff to gradually assume the responsibilities of senior management. Our Group’s strategy for management continuity is driven by our Key Senior Management. In summary, we have taken the following steps, in the event of any planned or unplanned changes in our Key Senior Management: (i) identifying talented employees, where our Key Senior Management identifies middle
management staff to gradually assume responsibilities of senior management by recognising the key competencies and requirements of these employees;
(ii) career development and progression, which is done through on-the-job training as well as mentoring, coaching and training programs. Our senior key management will continue to groom middle management personnel to gradually assume greater responsibilities after reviewing each employee’s capability, knowledge, skills, leadership and performance contribution; and
(iii) competitive remuneration and benefits to reward our performing employees and to retain their services with our Group.
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In addition, we also ensure that our middle management personnel are constantly exposed to various aspects of our business activities. This enables our middle management personnel to acquire an understanding of the business so that they are adequately equipped with the necessary knowledge for them to advance to higher senior management positions. If the need arises, we will recruit qualified and competent personnel with knowledge and expertise of our business to enhance our operations. By enhancing our corporate profile as a listed issuer, we expect to be able to attract more qualified personnel to play an active role in the growth and success of our Group.
4.9 MANAGEMENT AND EMPLOYEES
The breakdown of employees based on department in our Group as at 31 December 2020 and as at the LPD is as follows:
Department Total number of employees
As at 31 December 2020
As at the LPD
Executive Directors 2 3 Key Senior Management 3 3 Authorities Liaison & Tender 5 4 Project Management 5 6 Project Development 17 18 Credit Administration 11 10 Finance 5 5 Human Resource, Administration, Legal and Compliance
8 8
Total 56 57
None of our employees are member of any union nor have there been any major industrial disputes in the past. As at the LPD, our Group does not employ any foreign workers and contractual and/or temporary workers.