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Annual-Report-2020.Pdf Annual Report 2020 01 TABLE OF CONTENTS CORPORATE INFORMATION 02 PROFILE OF DIRECTORS 03 PROFILE OF KEY SENIOR MANAGEMENT 08 KEY MILESTONES 10 CORPORATE STRUCTURE 12 FINANCIAL HIGHLIGHTS 13 CHAIRMAN’S STATEMENT 16 MANAGEMENT’S DISCUSSION & ANALYSIS 22 SUSTAINABILITY REPORT 29 CORPORATE GOVERNANCE OVERVIEW STATEMENT 60 STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL 65 AUDIT COMMITTEE REPORT 72 DIRECTORS’ RESPONSIBILITY STATEMENT 76 ADDITIONAL COMPLIANCE INFORMATION DISCLOSURES 77 FINANCIAL STATEMENTS 78 LIST OF PROPERTIES 209 STATISTICS OF SHAREHOLDINGS 215 NOTICE OF ANNUAL GENERAL MEETING 219 DIRECTORY 224 FORM OF PROXY 225 MEGA FIRST CORPORATION BERHAD CORPORATE INFORMATION Executive Chairman Senior Independent Director Goh Nan Kioh Dato’ Koh Hong Sun Non-Independent Independent Directors Non-Executive Deputy Chairman Yeow See Yuen Mr Tay Kheng Chiong Datuk Hj. Pengiran Saifuddin bin Pengiran Tahir, JP Jesper Bjorn Madsen Executive Directors Professor Dato’ Dr. Tan Hui Meng Goh Nan Yang Datin Jeyanthini a/p M. Kannaperan (Also Alternate to Goh Nan Kioh) Khoo Teng Keat Goh Mei Sze AUDIT COMMITTEE COMPANY SECRETARY AUDITORS Yeow See Yuen (Chairman) Foo Wen Yunn Crowe Malaysia PLT Datuk Hj. Pengiran Saifuddin SSM PC No. 201908000440 201906000005 (LLP0018817-LCA) bin Pengiran Tahir, JP (MAICSA 7057965) & AF 1018 Jesper Bjorn Madsen REGISTERED OFFICE STOCK EXCHANGE LISTING REMUNERATION COMMITTEE A-12-01, Level 12 Main Market, Jesper Bjorn Madsen (Chairman) Block A, PJ8 Bursa Malaysia Securities Berhad Dato’ Koh Hong Sun 23 Jalan Barat Stock Code : 3069 Datin Jeyanthini a/p M. Kannaperan Seksyen 8 Stock Name : MFCB 46050 Petaling Jaya Sector : Utilities Tel : +603-7960 8818 NOMINATING COMMITTEE Fax : +603-7960 7818 E-mail : [email protected] WEBSITE ADDRESS Dato’ Koh Hong Sun (Chairman) Datin Jeyanthini a/p M. Kannaperan www.mega-first.com Yeow See Yuen SHARE REGISTRAR AND SHARE TRANSFER OFFICE EMPLOYEES’ SHARE Boardroom Share Registrars Sdn Bhd 199601006647 (378993-D) OPTION COMMITTEE 11th. Floor, Menara Symphony, No. 5 Jalan Prof. Khoo Kay Kim, Seksyen 13 Goh Nan Kioh (Chairman) 46200 Petaling Jaya, Selangor Darul Ehsan Yeow See Yuen Helpdesk : +603-7890 4700 Dato’ Koh Hong Sun Fax No. : +603-7890 4670 E-mail address : [email protected] Annual Report 2020 03 Goh Nan Kioh Malaysian, Male, Aged 67 Executive Chairman Chairman of the PROFILE OF Employees’ DIRECTORS Share Option Committee GOH NAN KIOH Malaysian, Male, Aged 67 Executive Chairman Chairman of the Employees’ Share Option Committee Mr Goh Nan Kioh joined the Board on 1 February 2003 as a Non-Independent Non-Executive Director. He was appointed as Chairman of the Board on 29 July 2003 and as Executive Chairman on 1 July 2011. Mr Goh holds a Bachelor of Economics (Honours) degree from the University of Malaya. He has wide and varied business investments in many countries. Mr Goh Nan Kioh and his wife’s siblings namely Dr Lim Thian Soo, Mr Lim Thiam Cheok and Ms Lim Yam Poh, are substantial shareholders of the Company. Mr Goh is also the brother of Mr Goh Nan Yang and the father of Ms Goh Mei Sze. TAY KHENG CHIONG Malaysian, Male, Aged 57 Non-Independent Non-Executive Deputy Chairman Mr Tay Kheng Chiong joined the Board as a Non-Independent Non-Executive Director on 1 June 2006. Mr Tay was redesignated as Non-Independent Non-Executive Deputy Chairman on 26 February 2021. He holds a Bachelor of Engineering (Honours) degree majoring in Electrical and Electronics from the University of Sunderland, England. He also holds a Master of Business Administration degree from the University of Stratchclyde, Scotland and is a Chartered Engineer with The Institution of Engineering and Technology, United Kingdom. Mr Tay has more than 30 years’ experience in the semiconductor industry. He joined a multinational semiconductor company upon graduation in 1989 as Development Engineer and was promoted to Director of Manufacturing in 1999. During 2001 to 2005, he was the Managing Director of Dominant Opto Technologies Sdn Bhd. Mr Tay is presently the Group Managing Director of D&O Green Technologies Berhad (“D&O”) which is listed on Bursa Malaysia. He is deemed to be interested in certain transactions between MFCB Group and D&O Group by virtue of his common directorships. MEGA FIRST CORPORATION BERHAD GOH NAN YANG Malaysian, Male, Aged 57 Executive Director and Alternate Director to Mr Goh Nan Kioh Mr Goh Nan Yang joined the Board on 13 March 2003 as the alternate director to Mr Goh Nan Kioh, who is his brother. He was appointed as Executive Director on 26 KHOO TENG KEAT November 2004. Mr Goh graduated from Malaysian, Male, Aged 50 the University of Toledo with a Bachelor Executive Director of Science honours degree in Engineering. He joined a public listed company after Mr Khoo Teng Keat joined the Board on 6 graduation, during which period he was September 2011 as Executive Director. He involved in several major infrastructure holds a Bachelor of Commerce (Actuarial and housing projects. In the mid-1990s, Science) honours degree from University he left employment and started his own of Melbourne, Australia. Prior to joining business in property development and the Company, Mr Khoo has more than 14 manufacturing activities in Melbourne, years experience as an equity analyst and Australia. Since then, his business has has held senior positions with several diversified into hospitality and student reputable international investment education ventures. banks. Mr Goh Nan Yang is an uncle of Ms Goh Mei Sze. Mr Goh Nan Yang is a non-executive director and deemed substantial shareholder of D&O Green Technologies Berhad (“D&O”), a company listed on Bursa Malaysia. He is deemed to be interested in various transactions between MFCB Group and D&O Group by virtue of his common directorships and GOH MEI SZE substantial shareholding in D&O. Malaysian, Female, Aged 32 Executive Director Ms Goh Mei Sze joined the Board on 16 November 2020 as Executive Director. She holds a Bachelor of Commerce degree from University of Melbourne, Australia. Ms Goh Mei Sze started her career in Ernst & Young from 2010 to 2012 in Audit and Assurance. She joined Mega First Corporation Berhad in 2013, in which she is the Personal Assistant to the Executive Chairman since then. She is a daughter of Mr Goh Nan Kioh, and a niece of Mr Goh Nan Yang. Annual Report 2020 05 DATO’ KOH HONG SUN Malaysian, Male, Aged 68 Senior Independent Director Chairman of the Nominating Committee, Member of the Remuneration Committee and the Employees’ Share Option Committee Dato’ Koh Hong Sun joined the Board as an Independent Director on 1 December 2010. He holds a Master degree in Strategic and Security Studies from Universiti Kebangsaan Malaysia. Dato’ Koh had a distinguished career with the Royal Malaysian Police (RMP) for almost 40 years, having joined RMP as a Probationary Inspector in 1971 and retired in October 2010 as the Director of Commercial Crime Investigation Department. During the period as an officer of the RMP, he has held various important command posts including as Commandant of The Police Training Centre in Kuala Lumpur, Assistant Director NCB-Interpol, Officer-in-Charge of Brickfields Police District, Federal Traffic Chief, Deputy Chief Police Officer of Johor, Chief Police Officer of Penang and Commissioner of Police as Director of Commercial Crime Investigation Department. Dato’ Koh is also a Director of Genting Malaysia Berhad. YEOW SEE YUEN Malaysian, Male, Aged 53 Independent Director Chairman of the Audit Committee, Member of the Nominating Committee and the Employees’ Share Option Committee Mr Yeow See Yuen joined the Board as an Independent Director on 10 May 2006. He holds a first class honours degree in Accountancy from the National University of Singapore. Mr Yeow started his career in 1991 with Coopers & Lybrand, Singapore Office in the audit division. He left the firm in 1994 to join Deutsche Securities Asia Limited (“Deutsche Securities”) where he spent 9 years working in the Equity Research Department. During that period, he progressed through a series of positions including Deputy Head of Indonesia Research, Head of Malaysian Research and Head of Consumer Research Asia. Since leaving Deutsche Securities in 2003, he has been actively involved in investment banking related work, including investor relations corporate advisory and research consultancy. Mr Yeow is also a Director of D&O Green Technologies Berhad (“D&O”) which is listed on Bursa Malaysia. He is deemed to be interested in certain transactions between MFCB Group and D&O Group by virtue of his common directorships. MEGA FIRST CORPORATION BERHAD DATUK HJ. PENGIRAN SAIFUDDIN BIN PENGIRAN TAHIR, JP Malaysian, Male, Aged 63 Independent Director Member of Audit Committee Datuk Hj. Pengiran Saifuddin bin Pengiran Tahir joined the Board on 15 August 2014 as Independent Director. He holds a Law Degree from University of London, England and a Master Degree in Business Administration from Universiti Malaysia Sabah. Datuk Hj. Pengiran was admitted to the High Court of Borneo in 1988 and his career in the legal field included the appointment as a Senior Legal Officer in the Sabah State Attorney General Department from 1994 until 1996. Embarking into the corporate management field, he joined a fleet management services company, Angkatan Hebat Sdn Bhd as its Deputy Chief Executive Officer in 1996. A year later, he took up a similar position in K.K.I.P., the developer of Sabah’s premier integrated industrial estate, and served in that capacity for over 13 years. Datuk Hj. Pengiran Saifuddin was appointed Managing Director of Sabah Urban Development Corporation Sdn Bhd in 2010 before moving on to Sabah Economic Development Corporation (SEDCO) to take up his current position as Group General Manager in December 2013. JESPER BJORN MADSEN Danish, Male, Aged 67 Independent Director Chairman of the Remuneration Committee and Member of the Audit Committee Mr Jesper Bjorn Madsen joined the Board as an Independent Director on 30 November 2016.
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