The Background Of The Haio Company Commerce Essay

October 14, 2017 Commerce

Hai-O is one of the taking traditional health care companies in Malaysia, viing in the niche of traditional Chinese medical specialty. In the first chapter, this paper will discourse the background of the company in general to farther exemplify the concern nature of the company. This will supply the footing for the farther treatment of Hai-O ‘s concern scheme.

Introduction

Hai-O is a local group of companies that operates in the concern of traditional Chinese medical specialty. Hai-O Group of Companies ‘ ( “ the Group ” ) comprise of a few concern divisions in the corporate construction. All of these divisions operate in the nucleus concern of Chinese health care merchandises that include herbal medical specialties, pharmaceutical merchandises every bit good as wellness nutrient. Hai-O divisions include multi-level selling ( “ MLM ” ) wholesaling, retail shops, every bit good as fabrication. The Group has besides diversified into a few other industries such as advertisement services and renting of machinery.

Problem Statement

For 1000s of old ages, traditional medical specialty has been used in some communities for wellness remedies and redresss. As it has been re-introduced in the modern universe, there has been a turning argument on its effectivity and possible side effects. This causes a unsmooth drive for Hai-O as a traditional medical specialty supplier.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

One of the challenges arise is the deficiency of international criterions and rating methods for the efficiency of traditional medicine because of international diverseness of civilizations and parts. As a consequence, many states do non hold national policies and ordinances for traditional medical specialties. And there is besides an issue of disparity in definition and categorization for traditional medical specialty therapies. Some states may specify an herbal merchandise as nutrient addendum while others may accept it as herbal medical specialty, doing international entree and planetary merchandise distributions a challenge to stay for Hai-O Group.

There is besides restriction for traditional medical specialties in footings of safety and quality. This is due to the complex nature of the methods for research and rating. For illustration, the safety and quality of finished herbal medical specialty merchandises require trials on their resources which at one point can consist 100s of natural components. And the handling of these elements besides needs to be evaluated.

Merchandises of traditional medical specialty are produced form natural elements which largely are collected from wild workss. Scarcity of resources could besides be an issue for concern patterns, non to advert the societal menace they might confront because of destructing of natural resources.

Aside from turning competitions from other extension of health care concern, Hai-O Enterprise Berhad needs to turn to these challenges and issues in its scheme to tickle pink growing and enlargement.

Problem Questions

Writing this instance will take to reply a few inquiries that arise in the job statement above. Some of the inquiries are:

What is Hai-O ‘s scheme to undertake the negative facets of TCM?

Why does Hai-O use its current concern schemes?

How does Hai-O program to spread out into international market?

How does Hai-O prolong its growing despite the challenges and menaces?

Case Study Aims

Aim of this instance survey is to critically analyze the:

Business scheme ;

Strategy preparation ; and the

Issues and challenges faced by Hai-O Group in its concern scheme

Upon completion, this survey will assist to understand and clearly place the concern scheme of Hai-O Group. Through the instance analysis, Hai-O ‘s scheme preparation will be carefully examined and this will steer the determination of the critical issues and challenges of its concern scheme.

Company ‘s Overview

Hai-O was established in 1975, and has become a celebrated family name in Malaysia of all time since. Originally, the Company offered an mixture of Chinese medical specialties and health care merchandises. Much later, the concern expanded and grew into Hai-O Group of Companies. It foremost made its manner to Bursa Malaysia Securities Berhad in the twelvemonth 1996, by being listed in the 2nd board of Bursa Malaysia. The Group has 5 principal concern that are multi-level selling, wholesaling, retailing, fabrication and medicative clinics. The Group was the first traditional health care company listed on the stock exchange. It was listed into the chief board of Bursa Malaysia on 2007. Expert in its niche, Hai-O has managed to construct extended and efficient distribution web for the past three decennaries.

As portion of its services, the Group is besides rehearsing integrated wellness services which combine the traditional Chinese medical specialty clinic services and non-decocted Chinese herbal audience in their retail shops. These services were coaction with its joint venture spouse, Beijing Tongrentang Co Ltd, a large TCM supplier in China.

History of Hai-O

Hai-O Enterprise Bhd was founded by Mr. Tan Kai Hee in 1975. He was an adjunct secretary-general of the Labour Party in 1960s and was arrested under the Internal Security Act ( “ ISA ” ) from 1965 to 1973. Merely 28 old ages old at the clip, Tan was optimistic despite the unfortunate fortunes. Finding occupation after the detainment was non easy, and this leads him to the thought of organizing other ex-comrades to venture into China trade. And so they set up Hai-O in 1975 and started operation in Klang. The concern was shortly became a word of oral cavity among friends and protagonists. Due to a batch of difficult work and high optimism, the Group was able to interrupt even within the first twelvemonth and all of the cardinal historical and inspirational achievement took topographic point itself in the first twelvemonth it was introduced.

Throughout many old ages of operation, the Group has earned a batch of awards for their singular public presentation. Such acknowledgments are awarded to all the top acting companies within the Group. The Group take pride in its accomplishments which have aid instil good assurance among its investors and clients. Awards and acknowledgments received by Hai-O Group are:

Hai-O Enterprise: ‘Best Small Capitalisation Company ( Malayan Corporate Governance Index 2009 ) ‘ – by Minority Shareholder Watchdog Group ( MSWG )

Hai-O Enterprise: ‘Best Tax return to Shareholder Category First Runner Up Award ‘ – by Malayan Business CIMA Enterprise Governance 2009

Hai-O Enterprise: ‘Best Under a Billion Award ‘ – by Forbes Asia 2009

Hai-O Enterprise: Ranked no. 6 in Top 100 Listed Company In Footings of Shareholder Values Creations 2008 – by KPMG and The Edge

Hai-O Enterprise: ‘Best Under a Billion Award ‘ – by Forbes Asia 2008

Hai-O Raya: ‘The Brand Laureate 2008-2009 ‘ – under the Product Branding for Traditional Chinese Medicine class

Hai-O Selling: ‘Malaysian Business Ethics Excellence 2008 ‘ – acknowledgment certification by Ministry of Domestic Trade and Consumer Affairs

Hai-O Raya: ‘Malaysian Business Ethics Excellence 200 ‘ – acknowledgment certification by Ministry of Domestic Trade and Consumer Affairs

Hai-O Enterprise: ‘Best Under a Billion Award ‘ – by Forbes Asia 2007

Hai-O Selling: ‘Outstanding Contribution Towards Developing Bumiputra Entrepreneurs 2007 ‘ – acknowledgment certification by MECD

Hai-O Raya: ‘Superbrand ‘ – 2003/2004

Hai-O Raya: ‘Malaysian Book of Records: Greatest Number of Traditional Healthcare Chain Stores in Malaysia 2001 ‘

Hai-O Raya: ‘Golden Bull Award: Malaysia ‘s Top 100 Outstanding SMEs 2003 ‘

Hai-O Raya: ‘Enterprise 50 ‘ – by SMIDEC and Deloitte 2003

‘Top Malaysian Small Cap Companies ( 100 Jewels 2007 ) ‘ – by OSK Investment Bank Bhd

Hai-O Selling: ’13 Old ages Membership with Direct Selling Association Malaysia 2007 ‘

‘Diamond Club Award ‘ – for Excellent Performance 2002, 2003, 2006

GMP Status and ISO: 9001certification by SG Global Biotech Sdn Bhd

U.S. FDA Facility Registration certification by SG Global Biotech Sdn Bhd

Beginning: hypertext transfer protocol: //en.hai-o.com.my

Vision, Mission and Corporate Valuess

The Group ultimate end is to go a premiere health care company in Malaysia. Concentrating on it, its vision reads: ‘We purpose to go the Prime Minister health care company in Malaysia and thereby conveying the greatest value and pride to our clients, concern spouses, employees and stockholders ‘ . This explained that their vision of being the taking health care company are much focused on presenting value to each cardinal component that make up their concern, internally and externally.

Hai-O has strived over 35 old ages to take the trade name name beyond the image of Chinese medical specialty. The Group genuine involvements in healthy civilization hike their spirit to advance human ‘s wellbeing with the mission statement that reads: ‘We are committed to advancing healthcare civilization and bettering homo ‘s wellbeing ‘ .

Such vision and mission is incorporated into the Group ‘s corporate value. Hai-O means sea gull in Mandarin. It is a metaphor that the Group will surge high and the Group incorporated its corporate values in the word ‘seagull ‘ itself and the image of a sea gull is embedded in the Group ‘s company logo. Their 7 nucleus values are:

Social duty ; Hai-O strives to refund society by assisting those in demands through actions and pecuniary support.

Excellent service ; Hai-O strives beyond clients outlooks to give first-class quality merchandises and superior service.

Attitude ; Hai-O strives to prolong a positive attitude in every dimensions of the concern at any fortunes it faces.

Integrity ; Hai-O strives to unify its organisation as one large household in Malayan civilization of different races to accomplish its ends in the challenging concern universe.

Turning ; Hai-O strives to capitalize on its competitory advantage and cognition to guarantee uninterrupted betterment and growing.

Loyalty ; Hai-O strives to be loyal to its concern spouses and its committedness to convey good consequences to the clients every bit good as the stockholders.

Learning ; Hai-O strives to construct a knowledge-based working environment by roll uping its resources together to accomplish ends to educate consumers on health care and to lend to the research and development in the biotechnology and pharmaceutical scientific discipline.

Figure 1: Hai-O ‘s Company Logo

Image beginning: Adapted from hypertext transfer protocol: //en.hai-o.com.my

Scheme

One of the obvious schemes to market its merchandise was the Group formation of Hai-O Marketing Sdn. Bhd. in 1992. This subordinate company is targeted to market Hai-O ‘s merchandises through multilevel selling. Merchandises that are sold through this company are wellness nutrient, health and beauty merchandises. This scheme of has boosted the Group ‘s concern well and has brought a immense exposure for Hai-O ‘s trade name into the consumer market. Although the concern move has brought a elephantine impact, the Group cardinal schemes still remain in three chief standards ; taking the right merchandise, aiming the Bumiputra section and embarking abroad.

Hai-O beginnings natural stuffs for its merchandise from the chief land China. TCM market in China is saturated and the merchandises are assortment. But Hai-O is devoted to lone choose the right 1s to convey into its merchandise line. Merely importing patented merchandises that are approved by the Ministry of Health, the Group built its clients ‘ trust by selling echt quality merchandises at a just monetary value with Hai-O stigmatization. In 2002, links to China were farther consolidated in a partnership with Peking Tongrentang, a celebrated company with a 338-years history and is celebrated for working for the emperor during the Qing dynasty. Other than that, the Group besides signed a exclusive distributorship understanding in 2007, with Yunnan Baiyao Group Co Ltd.

Since the scene of its MLM division, Malay consumers have constituted a big section of its market every bit good as its gross revenues force, which has consequence in a singular transmutation for Hai-O as a group. The construct of MLM suited the Bumiptra market really good. Celebrated merchandise among the Malay consumer is the ‘Pur Er ‘ tea which is considered as a admiration quinine water with abundant wellness benefits runing from taking toxins to bettering blood circulation. Achieving repute among Malay consumers has changed the Group ‘s image from antecedently a chiefly Malayan Chinese trade. As a consequence, the trade name is more accessible and good received by other citizen in Malaysia.

As the power of traditional medical specialty is demoing apparent consequences in today ‘s health care industry, the Group decided to take the concern abroad by perforating the moneymaking markets of China and Indonesia. A joint venture company has been set up in Jakarta and has started concern in August 2009. As for China, the Group is in the thick of obtaining the necessary rights and licenses to advance Malaysia ‘s traditional medical specialties and wellness merchandises such as Tongkat Ali, and Kacip Fatimah in its local market. Venturing into the international market is a scheme that the Group hope will assist to expose their trade name even further every bit good as promote traditional Chinese medical specialty to a higher degree.

Corporate Structure

Figure 2: Hai-O ‘s Corporate Structure

Beginning: hypertext transfer protocol: //en.hai-o.com.my

Sweeping Division

As a 2nd largest subscriber to the Group, the sweeping division have secured sole bureau rights for importation and distributing of more than 200 branded merchandises from China under the company names Hai-O Medicine Sdn. Bhd. , Kinds Resources Sdn. Bhd. , Grand Brands ( M ) Sdn. Bhd. , Chop Aik Seng Sdn. Bhd. and Vintage Wine Sdn. Bhd. These merchandises include a broad scope of traditional Chinese medical specialties, teas and vinos that are distributed through Hai-O ‘s multi-distribution channels. These channels offer a wide entree to Chinese medical halls, hyper/ supermarkets, convenience shops, retail mercantile establishments and eating houses.

Direct Selling Division

The direct merchandising division, besides known as the MLM division has been the Group ‘s fastest turning section since it is foremost introduced in 1992. Operating under the company name Hai-O Marketing Sdn. Bhd. , the division has a strong distribution force that helped the company to emerge as a taking local direct merchandising company. Hai-O Marketing Sdn. Bhd. is now functioning over 34,000 distributorships, through more than 50 distribution Centres throughout Malaysia. With the merchandise mix runing from health care to family merchandises, Hai-O Marketing Sdn. Bhd. besides owns a subordinate company, PT Hai-O Indonesia which took up a 60 % interest in a joint-venture company with an Indonesian spouse. The company has started concern in August 2009, selling merchandises manufactured from Malaysia.

Retail Division

The Group has over 60 concatenation shops in major metropoliss and towns across Malaysia. These concatenation shops carry an extended scope of traditional Chinese medical specialties, teas, vinos and other health care merchandises. Operating under the company name Hai-O Raya Berhad, the Group besides owns retail counters in some of major supermarkets viz. Carrefour and AEON Jusco. These mercantile establishments provide audiences on herbs and TCMs by professional herb Masterss. Hai-O Raya Berhad besides provides a franchise plan for enterprisers who are interested in runing a professional TCM shop. In 2002, the Group expanded to besides offer incorporate clinical service under the company name, Peking Tongrentang ( M ) Sdn. Bhd. This incorporate clinic is a joint-venture between Hai-O and Beijing Tongrentang Co Ltd, the largest manufacturer of traditional Chinese medical specialty in China. Besides that, the Group besides owns another subordinate company that offers extended traditional Chinese medical specialty merchandises and service, Hai-O Polaris ( M ) Sdn. Bhd.

Manufacturing Division

Recognizing the importance and the fast turning demand of traditional Chinese medical specialty in the state, the Group made a determination to open up its ain pharmaceutical fabrication works in 1994. Operating under the name SG Global Biotech Sdn. Bhd. , it was the first traditional medicative maker that complies with the Good Manufacturing Practice ( “ GMP ” ) criterions in the state. The company ‘s duty to quality confidence has obtained the making under ISO 9002 in 1999 and ISO9001: 2000 in 2002.

Its nucleus concerns is bring forthing and processing of herb tea and other wellness merchandises and SG Global is besides active in a batch of research and development activities. The company shared the engineering and expertness with China and several local opposite numbers in Malaysia. Riding on the possible growing of the research and development country in herb tea and traditional medical specialty in Malaysia, the Group extended its operation into another subordinate that focuses on research lab research to increase merchandise invention. QIS Research Laboratory Sdn. Bhd. is established to offer a full service in analytical research lab, microbiology and chemical analysis of traditional medical specialty. QIS Lab is accredited to ISO 17025 by the Department of Standard Malaysia ( “ DSM ” ) of the Ministry of Science and Technology.

In the past old ages, the Group has besides ventured in several other concern sections. Other subordinate companies include Seagull Advertising Sdn. Bhd. , Hai-O Credit and Leasing Sdn. Bhd. , Sri Pangkor Credit and Leasing Sdn. Bhd. , Hai-O Energy ( M ) Sdn. Bhd. and Hai-O Properties Sdn. Bhd. The Group other back uping concerns involved the leasing of machinery and equipment, advertisement services, investing retention every bit good as insurance bureau.

Corporate Administration

The Board of Directors of Hai-O Enterprise Berhad ( “ the Board ” ) embraces the value of the Malayan Code of Corporate Governance which outlines the moralss and the best patterns on corporate administration. In respects, the Board is dedicated to do certain that the corporate administration rules are good practiced and good observed throughout the operation of Hai-O Group in order to guarantee unity and professionalism within the organisation to safeguard stockholders ‘ investing and value.

Composition of the Board

The Board of Hai-O Group is consists of 8 members, consisting of 3 Executive Directors and 5 Non-Executive Directors. 4 of these Non-Executive Directors are Independent Directors who act as independent advisers. This composing meets the footings with the Listing Requirements of Bursa Malaysia Securities Bhd which requires one-third ( 1/3 ) of the Board to be Independent Directors.

The Executive and Non-Executive Directors maps are defined clearly. The Executive Directors capacity is to administrate the Group ‘s operations and put to death the operational and corporate determinations while the Non-Executive Directors offer the Company with necessary sentiments and determinations.

Formulation of the Group ‘s schemes and policies are shaped from the combination between the expertness of the Independent Non-Executive Directors and the accomplishment and wisdom of the Executive Directors. If a struggle of involvement is likely to originate, it is the duty for the manager concerned to declare his involvement and withdraw from the procedure of the determination devising.

The same expression is tailored to the duties between the Chairman and the Managing Director in order to keep a balance of authorization and answerability. The Chairman provides a general leading to the Board without curtailing the rule of corporate duty for Board ‘s determinations. And the Managing Director ‘s chief duty is to explicate the concern schemes and to use the corporate determinations every bit good as to administrate the overall concern operations. The Board ‘s composing represents a mix of accomplishment, cognition and expertness that are important to the activities of the Group.

The Board meeting is held one time every 3 months. The Board entrusted the Nomination Committee with the necessary duties to name and re-elect the managers. This commission is comprises of Independent and Non-Executive Directors and is responsible to acknowledge and pick possible new managers and propose nominations to the Board.

The Board besides recognizes that changeless acquisition is critical for its members in order to derive penetrations into the province of economic system, technological progresss, regulative updates and direction schemes. Therefore all the Directors of the Company have to finish the Mandatory Accreditation Programme ( “ MAP ” ) which is compulsory for the Listing Requirements of the Bursa Malaysia Securities Bhd. The Directors will go on to set about other important preparation programmes and the Continuing Education Programmes ( “ CEP ” ) to supplement and maximise cognition in the latest statutory and regulative developments. This is besides to help them in maintaining au courant with developments in the concern environment in order to enable them to continue their duties more efficaciously.

Directors ‘ Wages

A wage Committee was set up by the Board to pull off the Executive Directors ‘ wage bundle. The commission members are bulk dwelling of the Non-Executive Directors. This wage bundle is based on the Group ‘s consequences apart from the single manager ‘s public presentation. The commission meeting is held often as required to decide all facet of wage every bit good as footings and conditions of service of the Executive Directors. Level of the wage is structured as such to actuate and promote the Directors to run the Group at the top of their public presentations. And the compensation for the Non-Executive Directors is subjected to the Board ‘s determination as a whole. The fees for both the Executive and Non-Executive Directors are approved by the stockholders at the Annual General Meeting ( “ AGM ” ) .

Stockholders and Investors

It is of import to public listed organisations to inform the current position of the Group to the stockholders, stakeholders every bit good as the general populace. Hence, the Group has been maintaining up a constructive and active communicating policy which enables the direction and the Board to pass on efficaciously with its stockholders. The Group ‘s web site, ‘www.hai-o.com.my ‘ is one of the channels available for corporate information to help stockholders and investors to measure their investing determinations.

The Group ‘s AGM proceedings are unfastened to all stockholders to advance transparence. Stockholders are besides invited to go to any Extraordinary General Meetings which are announced through handbills and notice of run intoing whenever it occurs.

Accountability and Audited account

An Audit Committee is set up to pull off the one-year fiscal statements of the Group. This commission is responsible to guarantee that the statements are complied with the demands in the valid accounting criterions in Malaysia under the Companies Act, 1965 every bit good as the Listing Requirements of Bursa Malaysia Securities Bhd.

The commission is besides accountable to set up an appropriate and crystalline relationship with the Group ‘s internal and external hearers. The Board besides recognizes the important of fiscal controls, operational and conformity controls every bit good as hazard direction. Hence, the internal control system is designed to administrate the hazard of failure to carry through concern aims.

Board of Directors

The names and places of Hai-O Enterprise Berhad ‘s executive officers ( as of February 17, 2010 ) are listed below:

Table 1: Hai-O ‘s Board of Directors

Name

Position

Y. Bhg. Tan Sri Osman S. Cassim

Chairman, Independent & A ; Non- Executive Director

Tan Kai Hee

Pull offing Director, Non-Independent Director

Datin Sunita Mei-Lin Rajakumar

Independent & A ; Non-Executive Director

Tan Keng Song

Executive Director, Non-Independent Director

Chia Kuo Wui

Executive Director, Non-Independent Director

Y. Bhg. Dato ‘ Abdul Rani Bin Mohd Razalli

Non-Independent & A ; Non-Executive Director

Lim Chin Luen

Independent & A ; Non-Executive Director

Quek Ah Ba

Independent & A ; Non-Executive Director

Beginning: Adapted from hypertext transfer protocol: //en.hai-o.com.my

Profile of the Board of Directors

Y. Bhg. Tan Sri Osman S. Cassim

( Chairman, Independent & A ; Non-Executive Director )

Tan Sri Osman graduated from University of Malaya, Singapore with an Awards Degree in Humanistic disciplines. He subsequently attended the Advanced Management Programmes by Harvard Business School, Boston in 1984. During his 30 old ages calling in public sector, Tan Sri Osman used to function as Secretary General in the Ministry of Labour, the Ministry of Information, and Ministry of Home Affairs. He was elected as the Director General of the Public Services Department Malaysia in 1980. Later in 1988, he was appointed as the National Advisor to the General Electric International ( USA )

Presently he is the Vice President in the Court of Fellows of Malaysia Institute of Management. Tan Sri Osman was besides the Chairman of Southern Bank Berhad from 1990 to 2005. He joined Hai-O Group and become the Chairman on 31 January 2005. Tan Sri Osman is besides the Chairman of the Remuneration and Nomination Committee of Hai-O Group.

Tan Kai Hee

( Pull offing Director, Non-Independent Director )

Mr. Tan Kai Hee is one of the laminitiss of the Group. He is besides the chief policy and decision-maker. Mr. Tan has more than 33 old ages of experience in the trading concern. In August 2006, he attended China Market Study Tour Program which was carried out by Beijing International MBA, Peking University. Mr. Tan is besides an devouring societal worker for the past 35 old ages. As besides a laminitis of Malaysia-China Friendship Association ( “ PMC ” ) , Mr. Tan acts as the Secretary-General. He is besides the laminitis of Malaysia-China Medicine & A ; Health Product Association ( “ MCMHPA ” ) , Malaysia-China Chamber of Commerce ( “ MCCC ” ) and Malaysia Ru-Shang Social Association. Among others, Mr. Tan is besides the Chairman in the Trading Services of the Malaysia China Business Council ( “ MCBC ” ) and the Advisor for the Federation of Chinese Physicians and Medicine Dealers Association of Malaysia ( “ FCPMDAM ” ) . Mr. Tan holds directorship in Hai-O Raya Bhd. every bit good as a few other private limited companies. He was selected to the Group ‘s Board on 30 August 1975 and is besides a member in the Remuneration and Investment Committee. Mr. Tan is the male parent of Ms. Tan Keng Song, who is the Executive Director of Hai-O Enterprise Bhd.

Datin Sunita Mei-Lin Rajakumar

( Independent & A ; Non-Executive Director )

Graduated from University Bristol, United Kingdom, Datin Sunita holds a Bachelor Degree in Law. She is the Member of Institute of Chartered Accountants of England and Wales, gaining her making certification in 1994. She used to work for Ernst & A ; Young, London as the Audit Manager. She besides used to be the Manager in RHB Sakura Merchant Bank, Kuala Lumpur. In add-on, she used to work in Corporate Finance as the Vice President at Petra Technologies and was appointed as the Director of Corporate Finance at Southern Plastic. She besides used to work for MIMOS Berhad as the Venture Capital Consultant before fall ining the Group ‘s Board on January 2009. Datin Sunita is besides a member of the Group ‘s Audit Committee.

Tan Keng Song

( Executive Director, Non-Independent Director )

Ms. Tan Keng Song holds a Bachelor Degree in Commerce from University of Western Australia. Majoring in Marketing and Management, she used to work for UMW Group. She joined Hai-O Group in 2000 as the MIS Executive at Hai-O Raya Bhd. Later she was promoted to the caput of the Group ‘s IT and MIS division. Currently she is taking the Business Administration, MIS and Human Resources Department and is a member of the Investment Committee. Ms. Tan joined the Board on 2001. She is the girl of Mr. Tan Kai Hee, the Managing Director of Hai-O Enterprise Bhd.

Chia Kuo Wui

( Executive Director, Non-Independent Director )

Mr. Chia Kuo Wui obtained his Bachelor Degree in Accounting at Curtin University, Australia. Subsequently he continued to gain his survey MBA from Charles Stuart University at Help University College Kuala Lumpur. Mr. Chia joined Hai-O Group in the Corporate Planning and the Investor Relation Department. Keeping cardinal places in some of Hai-O Groups, he besides holds the directorships in a few other private limited companies. Mr. Chia Kuo Wui was appointed to the Group ‘s Board on 14 November 2008.

Y. Bhg. Dato ‘ Abdul Rani Bin Mohd Razalli

( Non Independent & A ; Non Executive Director )

Dato ‘ Abdul Rani obtained his Senior Cambridge Certificate in 1952. He used to function the Government Royal Custom & A ; Excise, Malaysia as the Deputy Director General. He subsequently ventured into commercial concern in the Fieldss of cargos, transit, repositing, and fabrication. Dato ‘ Abdul Rani joined Hai-O Group on 1995 as the Executive Director. He was besides a member of the Investment Committee of Hai-O Group and was re-designated as Non Executive and Non Independent Director in 2003.

Lim Chin Luen

( Independent & A ; Non-Executive Director )

Mr. Lim Chin Luen has been involved with the trading of Chinese traditional medical specialty and herbal merchandises for over 15 old ages. He besides owns a alimentary nutrient and noodles shops in Singapore. Mr. Lim joined the Group ‘s Board in December 1997. He was besides a member of the Audit, Remuneration and Nomination Committee of Hai-O Group.

Quek Ah Ba

( Independent & A ; Non-Executive Director )

Mr. Quek Ah Ba served as an Accountant and Operational Manager in many companies. He besides served two of the Securities houses, Noone & A ; Co Sdn Bhd from 1980 to 1983, and C.S. Securities Sdn Bhd from 1986 to 1989. Mr. Quek was a member of Australia Society of Accountants ( “ A.S.A. ” ) and CPA ( Australia ) . He joined Hai-O on 2001 and became the Chairman of the Audit Committee. In add-on, Mr. Quek is besides a member of the Nomination Committee.

x

Hi!
I'm Amanda

Would you like to get a custom essay? How about receiving a customized one?

Check it out