M alaysian Genomics Resource Centre Berhad (Company No. 652790-V ) Sequence. Analyse. Innovate. Annual Report 2O11 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V) 27-9, Level 9, Signature Office, Bandar Mid-Valley, 59200 Kuala Lumpur, Malaysia T +6 03 2283 3860 F +6 03 2282 8102 E enquiries@mgrc.com.my
Innovate. Analyse. Sequence. >> Cover Rationale We are all connected you, me, the animals, plants, microbes and other organisms. All of us have genes which determine who we are and how we function at the genetic level. MGRC provides genome sequencing and analysis services to help scientists and researchers to make sense of the vast amount of complex genetic information, which will then enable them to accelerate their scientific discoveries for the benefit of mankind. Corporate Mission We aspire to be the leading provider of rapid genome sequencing and analysis services. We are committed to continuously improving our services, resources and expertise to help our customers accelerate their scientific discoveries in the medical, agricultural and industrial sectors. Our passion in genomics motivates us to stay at the forefront in this exciting space, and push the boundaries of research for the benefit of mankind. We are determined to continue to promote local awareness and understanding of the enormous potential in genomics. It is our mission to position Malaysia as a leader in the global genomics landscape.
pg59 pg30 Financial Statements Corporate Governance pg4 pg8 Corporate Information Our Services Table of Contents >> 02 Historical Financial Summary >> 04 Corporate Information 06 Corporate Directory 07 Organisational Structure 08 Our Services 14 Board of Directors 15 Board of Directors Profiles 21 Board Committees >> 22 Performance Review 24 Letter to Shareholders 28 Financial Review >> 30 Corporate Governance 32 Statement on Corporate Governance 38 Other Compliance Information 40 Statement on Internal Control 42 Audit Committee Report 49 Statement of Directors Responsibility >> 50 Corporate Responsibilities 52 Human Resource 54 Corporate Social Responsibility 56 Calendar of Events >> 59 Financial Statements >> 101 Other Information 102 Analysis of Shareholdings 105 Notice of Annual General Meeting >> Proxy Form pg22 Performance Review
pg2 Historical Financial Summary
Financial year/ 31.05.2007 31.05.2008 31.05.2009 30.06.2010 30.06.2011 period ended Note (RM'000) (RM'000) (RM'000) (RM'000) (RM'000) *(13 months) Results Revenue 2,013 6,189 17,056 15,779 12,146 EBITDA 1 397 2,315 12,667 10,090 3,279 Profit from operations 35 1,816 12,027 9,360 2,777 Profit before tax 6 1,785 12,022 9,359 2,777 Income tax expense - - (18) (43) (142) Profit, net of tax 6 1,785 12,004 9,316 2,635 Equity and liabilities Share capital 1,444 1,444 1,925 7,700 9,410 Share premium 1,656 1,656 1,175 1,175 14,755 (Accumulated losses)/retained earnings (1,454) 331 12,336 5,876 8,511 Total equity 1,646 3,431 15,436 14,751 32,676 Non-current liabilities - 38 3 - - Current liabilities 6,278 5,299 13,822 4,227 4,955 Total equity and liabilities 7,924 8,768 29,261 18,978 37,631 Assets Property, plant and equipment 543 651 483 680 5,356 Intangible assets - - 6,110 5,448 4,837 Current assets 7,381 8,117 22,668 12,850 27,438 Total assets 7,924 8,768 29,261 18,978 37,631 Performance statistics EBITDA margin 1 20% 37% 74% 64% 27% PBT margin 2 0% 29% 70% 59% 23% * The financial year of the Company was changed from 31 May to 30 June. The Company was listed on the ACE Market of Bursa Malaysia Securities Berhad on 5 October 2010. Notes 1 Earnings before interest income, finance cost, taxation, depreciation and amortisation ( EBITDA ) 2 Profit before tax ( PBT ) margin is defined as PBT divided by revenue A n n u a l R e p o r t 2 0 1 1 3
pg4 Corporate Information
MyGenome Malaysia comprises diverse ethnic groups. Genomic data from Malaysians is critical in understanding how different ethnic groups are predisposed to different genetic and inherited diseases. >> 06 Corporate Directory 07 Organisational Structure 08 Our Services 14 Board of Directors 15 Board of Directors Profiles 21 Board Committees A n n u a l R e p o r t 2 0 1 1 5
Corporate Directory BOARD OF DIRECTORS Tan Sri Datuk (Dr) Rafiah binti Salim Senior Independent Non-Executive Chairman Robert George Hercus @ Abdul Karim Hercus Managing Director Munirah binti Haji Abdul Hamid Executive Director Dato Dr Norraesah binti Haji Mohamad Executive Director Ahmad Fauzi bin Ali Non-Independent Non-Executive Director Loh Lee Soon Independent Non-Executive Director COMPANY SECRETARIES Chua Siew Chuan (MAICSA 0777689) Mak Chooi Peng (MAICSA 7017931) REGISTERED OFFICE Level 7, Menara Milenium Jalan Damanlela Pusat Bandar Damansara Damansara Heights 50490 Kuala Lumpur Tel +603 2084 9000 Fax +603 2094 9940 MANAGEMENT OFFICE 27-9, Level 9 Signature Office Bandar Mid Valley 59200 Kuala Lumpur Tel +603 2283 3860 Fax +603 2282 8102 SPONSOR Kenanga Investment Bank Berhad (15678-H) 801, 8th Floor Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur Tel +603 2027 5555 Fax +603 2164 6690 EXTERNAL AUDITOR Ernst & Young (AF 0039) Chartered Accountants Level 23A, Menara Milenium Jalan Damanlela Pusat Bandar Damansara Damansara Heights 50490 Kuala Lumpur Tel +603 7495 8000 Fax +603 7495 9076 / 9078 INTERNAL AUDITOR KPMG Business Advisory Services Sdn Bhd Level 10, KPMG Tower 8, First Avenue Bandar Utama 47800 Petaling Jaya Selangor Darul Ehsan Tel +603 7721 3388 Fax +603 7721 7998 SHARE REGISTRAR Securities Services (Holdings) Sdn Bhd (36869-T) Level 7, Menara Milenium Jalan Damanlela Pusat Bandar Damansara Damansara Heights 50490 Kuala Lumpur Tel +603 2084 9000 Fax +603 2094 9940, 2095 0292 PRINCIPAL BANKER RHB Bank Berhad WEBSITE www.mgrc.com.my 6 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Organisational Structure Internal Audit Board of Directors Managing Director Executive Director Executive Director Financial Controller Chief Scientific Officer Data Access & Contract Services Sequencing Services Genetic Screening Services Manager, Operations Manager, Sequencing Services Manager, Personal Genomics Bioinformatics Training & Education Assistant Manager, Bioinformatics Training Marketing & Corporate Communications Manager, Applications Assistant Manager, Bioinformatics Assistant Manager, IT Operations Manager, Sequencing Facility Assistant Manager, Marketing A n n u a l R e p o r t 2 0 1 1 7
pg8 Our Services 8 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Overview The first draft assembly of the Human Genome Project was announced in 2000. This initiative to sequence the entire human genome, which cost US$3 billion over 13 years, announced the arrival of bioinformatics on the life sciences landscape. Since then, bioinformatics technologies and software have advanced rapidly, and have forever changed the way scientists and researchers look at living organisms. Over the past decade, researchers have begun to study living organisms at the genetic level to better understand the complex processes and mechanisms that determine how they function. By having a clearer picture of what is represented in the DNA, genes and chromosomes of living cells, researchers hope to identify and solve biological problems more rapidly and efficiently. Our Business Sequencing Services MGRC provides next-generation sequencing services for genomes, transcriptomes and exomes. Our services are highly customised to suit various research needs, and include the latest high-throughput sequencing technologies. The two key advantages that we offer are versatility and technical expertise. A team of scientists is assigned to each project, thus ensuring that all projects are monitored and conducted by experts in the business. ^^ Genetic Screening Services Through our Genetic Screening Services, detailed knowledge of the human genome and the variations within can be used to detect predispositions towards diseases, and to identify diseasecausing genes that can be passed from parent to child. A n n u a l R e p o r t 2 0 1 1 9
Our Business Contract Genomics Services Our Contract Genomics Services are provided as an end-toend package which is designed to enable customers to fully leverage our comprehensive applications, pipelines and expertise. The services are tailored for each customer s needs to provide optimised results, and are designed to save costs in terms of resources, time and manpower. By relying on our extensive know-how of next-generation sequencing informatics, customers can stay focused on their core business or research. Genetic Screening Services Over the past decade, Malaysians have become more proactive in maintaining their health. The public has already been exposed to emerging technologies in healthcare, including stem-cell therapy, gene therapy and genetic testing. They are becoming more receptive to the latest breakthroughs in diagnosis and treatment, and are realising that many diseases are determined by genetic factors. Genomics has facilitated significant progress in the understanding of human health. More importantly, it has enabled rapid discoveries linking genes to the risk and onset of diseases, deepened our understanding of the causes of illnesses, and facilitated the development of more effective vaccines and cures. The strategy deployed in applying personalised genomics to healthcare is two-pronged. The first is the use of detailed knowledge of the human genome, and the variations within, to detect predispositions towards diseases, and to identify disease-causing genes that can be passed from parent to child. The second approach is to design, or personalise, treatment for patients. This method seeks to treat the disease, not the symptom. As a result, patients can look forward to more accurate diagnosis of diseases, and more effective and optimised medication. Complementing the main aspects of MGRC s GSS is the wide range of microarrays that we offer, which enable the screening and detection of hundreds of infectious and communicable diseases simultaneously. These microarrays are specifically designed using genetic markers to rapidly test for diseases that are common in Malaysia. Our services are offered to the general public, via healthcare professionals, at designated hospitals and primary care centres. Industry players and pharmaceutical companies are eager to explore the promise of improved and effective treatment of diseases, by understanding what goes on at the genetic level and applying it to medical disciplines. At MGRC, we anticipated the growth of this niche market several years back, and as a result, we are perfectly poised to establish ourselves as a go-to centre for genetic screening. Our capability to drive this sector in healthcare is further strengthened by our extensive work in the analysis of human genomes. VV MyGenome It is hoped that the data from the MyGenome Project will be used to identify information on the genetic similarities, variations and mutations within and across the various ethnicities. The findings may prove beneficial in studies on adverse drug reactions that are common to our population but rare elsewhere. In June 2011, we launched our Genetic Screening Services (GSS). These services can be used to detect and identify known and novel mutations within the human genome. GSS also enable healthcare professionals to know if patients are predisposed to genetic diseases, or if they have adverse reactions towards certain drugs. By screening an individual for any underlying conditions, it is even possible to detect inherited disease genes in a newborn child. The data obtained from the screening and analysis can subsequently be used by doctors to help their patients make informed changes to lifestyle and diet. 10 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Our Journey of Discovery << Proboscis Monkey The sequencing, assembly and annotation of the Proboscis monkey genome will result in data that can be used to facilitate studies on the evolutionary relationship between this unique monkey and other mammals. It is expected that the data from the Project will be used to identify information on the genetic similarities, variations and mutations within and across the various ethnicities in Malaysia. This will prove critical in understanding how different ethnic groups are predisposed to different genetic and inherited diseases. Researchers will also use the findings from the Project to study adverse drug reactions that may be common to our population, but rare elsewhere. We are proud to say that since 2004, in addition to human genomes, we have also sequenced and analysed genomes from plants, animals and microbes. Our bioinformatics applications and tools allow us to offer complete and comprehensive genetic analysis services to customers for both upstream and downstream research. One of the major projects that we are actively involved in is the MyGenome Project. This national initiative was proposed by MGRC to the Ministry of Science, Technology and Innovation, Malaysia (MOSTI) with the purpose of studying the genetic diversity within the different ethnic groups in both Peninsular and East Malaysia. The Project involves the complete sequencing and analysis of the genomes of 25 Malaysians. Another milestone project that MGRC is collaborating on is the Proboscis Monkey Project. Initiated in December 2010, the Project involves the sequencing, assembly and annotation of the Proboscis monkey genome. This unique monkey is an iconic Malaysian animal, and it faces the risk of extinction due to a small population size and loss of natural foraging areas. The resulting data, which will be owned by the Government of Malaysia, could be used to assist in enhancing conservation and breeding programmes for the Proboscis monkey, and to facilitate studies on the evolutionary relationship between this unique monkey and other mammals. This pioneering Project will stimulate the use of genomics in biodiversity-related research in Malaysia. A n n u a l R e p o r t 2 0 1 1 11
Our Journey of Discovery We believe in constantly improving our products and services to cater to the research needs of the life sciences community. As part of our ongoing efforts to ensure that MGRC s online genetic analysis tools, SynaSuite, continue to remain current and relevant, we launched SynaBlast-Mega in February 2011. This online bulk alignment tool enables users to search for thousands of nucleotide or protein sequences in a single submission. It was designed for users to easily perform complex searches and analyses of multiple sequences simultaneously, thus greatly reducing the time taken to obtain results. To enhance the quality of analysis, SynaBlast-Mega is seamlessly integrated with sequence data from the GenBank database. This enables MGRC s latest online tool to utilise the fullest set of DNA and protein sequences from GenBank. We have also included additional biological domains in the reference databases to facilitate analysis using MGRC s online applications. This means our portal now operates with a storage capacity of more than 50 terabytes. The combination of integrated software tools and increased databases has seen a continued upswing in our users from the United States, Europe, China and India. The updated version of the portal is also available in Mandarin. SynaBlast-Mega SynaBlast-Mega ^^ SynaBlast-Mega Our SynaBlast-Mega bulk alignment tool, which is available on our portal, enables users to search for thousands of nucleotide or protein sequences in a single submission. Users can easily perform complex searches and analyses of multiple sequences simultaneously, thus greatly reducing the time taken to obtain results. 12 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Our Passion MGRC remains committed and fully focused on helping scientists throughout the world accelerate their research with our genome sequencing and analysis services. We realise that by working closely with various scientists and research institutions on a diverse range of projects, we are able to better understand their research needs in order to manage their expectations in terms of results and publications. With each project undertaken and completed, we continue to refine and enhance our infrastructure, software, pipelines and services to better serve our partners and customers. We have increased our personnel to reflect the scope and number of projects that we are currently involved in. Our passion in genomics keeps us current in the latest developments and ensures that we stay ahead in this fast-moving and challenging industry. Looking Forward The rapid progress of genomics technologies has signalled a monumental shift in medical research. Personalised medicine is edging ever closer towards becoming a reality in our daily lives. By understanding human genetic information, we can improve the quality and efficacy of healthcare. Every new breakthrough in genomics research holds the potential to expedite drug discovery, improve diagnoses, and help medical practitioners provide patients with more effective and safer drug treatments. Genomics is a dynamic industry. Every passing day witnesses a new scientific discovery in a laboratory in some part of the globe. The landscape is continuously shifting, with each discovery providing an answer to a question, while at the same time posing several more questions. The number of genomes that have been sequenced over the past decade offers proof of the rising star that is genomics. Approximately 45 genomes were sequenced in 1999. By the end of 2010, the number exceeded 1,000. In this rapidly advancing space, one cannot afford to be complacent, which is why we at MGRC, are always pushing ourselves to exceed industry expectations. We are focused on remaining scientifically relevant and being at the forefront of this industry by anticipating emerging technologies and trends. Currently, the genomics industry offers a wealth of untapped potential, and MGRC remains fully committed in continuing to accelerate each journey of scientific discovery. A n n u a l R e p o r t 2 0 1 1 13
Board of Directors (from left to right) Ahmad Fauzi bin Ali Non-Independent Non-Executive Director Munirah binti Haji Abdul Hamid Executive Director Loh Lee Soon Independent Non-Executive Director Dato Dr Norraesah binti Haji Mohamad Executive Director Robert George Hercus @ Abdul Karim Hercus Managing Director Tan Sri Datuk (Dr) Rafiah binti Salim Senior Independent Non-Executive Chairman 14 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Board of Directors Profiles Tan Sri Datuk (Dr) Rafiah binti Salim 64, Malaysian, Senior Independent Non-Executive Chairman Tan Sri Datuk (Dr) Rafiah binti Salim was appointed to the Board of Directors of the Company on 22 January 2010 and was re-designated to Senior Independent Non-Executive Chairman of the Company on 10 October 2011. She is also the Chairman of the Remuneration Committee, and a member of the Audit and Nomination Committee. Tan Sri Datuk (Dr) Rafiah graduated with a Bachelor of Laws from Queen s University of Belfast. In 1974, she earned her Master of Laws and subsequently received her Honorary Doctorate from Queen s University of Belfast in 2005. She obtained her Certificate of Legal Practice in 1987 and was duly admitted as an Advocate & Solicitor of the High Court of Malaya in 1988. Tan Sri Datuk (Dr) Rafiah started her career as a lecturer at the Faculty of Law, University of Malaya in 1974. In 1988, she ended her service with the University as the Dean of the Faculty. She then moved on to become the Head of the Legal Department of Malayan Banking Berhad ( Maybank ). In 1991, she was promoted to the post of General Manager of the Human Resource Department at Maybank. She was then invited to serve in Bank Negara Malaysia as the Assistant Governor for the Security Department, Legal Department and Property and Service Department. Tan Sri Datuk (Dr) Rafiah s international experience includes holding the position of Assistant Secretary General for Human Resource Management, United Nations, New York, from 1997 to 2002. From 2003 to 2006, she was the Executive Director of the International Centre for Leadership in Finance, now known as The ICLIF Leadership And Governance Centre. In 2006, she was appointed as the Vice-Chancellor/President of University of Malaya. She is currently also an Independent Non-Executive Director of Nestle (Malaysia) Berhad, Cerebos (Malaysia) Sdn Bhd and the National Entrepreneurship Board (PUNB). She also manages the NAM Institute for the Empowerment of Women. Tan Sri Datuk (Dr) Rafiah was awarded the Darjah Kebesaran PANGLIMA JASA NEGARA (PJN) and the Panglima Setia Mahkota (PSM) from His Majesty The Yang di-pertuan Agong. Other than as disclosed, Tan Sri Datuk (Dr) Rafiah is not a director of any other public company. She does not have any family relationship with any of the directors or major shareholders of the Company. She has no conflict of interest with the Company and has not been convicted of any offences within the last 10 years. A n n u a l R e p o r t 2 0 1 1 15
Board of Directors Profiles Robert Hercus, Managing Director, was appointed to the Board of Directors of the Company on 15 July 2004. Robert Hercus earned his BSc (Hons) in Information Science from Monash University. He has over 40 years experience in Information Science, specialising in large-scale computing infrastructure and computationally intensive projects. He started his career as a Scientific Officer at the Weapons Research Establishment in Adelaide, Australia. He moved to Malaysia in 1972 to set up the Computer Science course structure at the MARA Institute of Technology and served as a lecturer for 4 years. Subsequently, he became an IT consultant to the Sabah State Government, coordinating the development of software applications in multiple areas including Personnel, Accounting, Timber Revenue, and other areas. Robert Hercus established his first software house in 1977, specialising in the development of applications for Government agencies and private companies. From the late 80s to the mid-90s, he was responsible for the complete establishment and implementation of the IT infrastructure and applications for Projek Lebuhraya Utara Selatan Sdn Bhd (PLUS). He was further involved in setting up two pioneering Malaysian companies under PLUS for the development of automatic toll collection systems and the Touch n Go system. During the same period, he also acted as an Advisor to Time Telekom on the establishment of their fibre optic network, and to PUTRA on the establishment of its IT infrastructure to support future LRT operations. He established Neuramatix Sdn Bhd in 2002, focusing on the creation of intelligent applications and devices in various domains including bioinformatics, machine translation, robotic movement, robotic speech, semantic technology and other areas. Robert George Hercus @ Abdul Karim Hercus 63, Australian, Managing Director Robert Hercus provides overall leadership and management for technology development, business enhancement, corporate image, organisational growth and sound financial health of the Company. He also establishes an effective working relationship with the Board of Directors to develop policies and plans consistent with the shareholders mandate, and provides consultative advice on all aspects of the Company s operations. Robert Hercus is not a director of any other public company. He is the spouse of Munirah binti Haji Abdul Hamid, a director of the Company. He is a director of Synamatix Sdn Bhd and Neuramatix Sdn Bhd, both of which are substantial shareholders of the Company. Other than as disclosed, Robert Hercus does not have any family relationship with any of the directors or major shareholders of the Company and has no conflict of interest with the Company. He has not been convicted of any offences within the last 10 years. 16 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Board of Directors Profiles Munirah binti Haji Abdul Hamid 61, Malaysian, Executive Director Munirah binti Haji Abdul Hamid, Executive Director, was appointed to the Board of Directors of the Company on 15 May 2007. Munirah earned her LLB (Hons) from the University of London. She has over 37 years experience in running various businesses ranging from the supply of automotive spare parts to Government bodies in the early 70s, to the setting up of a software house in 1977, being a publisher of books and textbooks in the 80s, and producing programmes for television in the 90s. In addition, Munirah is an active social worker who has contributed significantly to society for more than 40 years, especially for the betterment of women and children in education. Working together with her childhood friends and other volunteers, she is the main co-ordinator of a soup kitchen project, tirelessly going out 4 nights a week to feed Kuala Lumpur s homeless population. As one of the founders of the Neuramatix Group of Companies, Munirah is instrumental in driving the strategic operations of the Group. In MGRC, besides contributing significantly towards the Company s continuing growth and expansion into new markets, Munirah is responsible for the administrative, legal, accounting, human resource and marketing functions, including staff recruitment and their subsequent career path development. Munirah is not a director of any other public company. She is the spouse of Robert George Hercus @ Abdul Karim Hercus, the Managing Director of the Company. She is also the Managing Director of Synamatix Sdn Bhd and Neuramatix Sdn Bhd, both of which are substantial shareholders of the Company. Other than as disclosed, Munirah does not have any family relationship with any of the directors or major shareholders of the Company and has no conflict of interest with the Company. She has not been convicted of any offences within the last 10 years. A n n u a l R e p o r t 2 0 1 1 17
Board of Directors Profiles Dato Dr Norraesah binti Haji Mohamad 63, Malaysian, Executive Director Dato Dr Norraesah binti Haji Mohamad, an Executive Director, was appointed to the Board of Directors of the Company on 22 January 2010. She is also a member of the Remuneration Committee. Dato Dr Norraesah obtained a BA (Hons) in Economics from University of Malaya, a Diploma in Commercial Policy from GATT, Geneva, Switzerland, and a double Masters degree (one in International Economics Relations from the International Institute of Public Administration, and the other in International Economics and Finance from the University of Paris 1, Pantheon-Sorbone, France). She has over 39 years of working experience in the government, corporate and business sectors, covering specific areas of international trade and commerce, investment consultancy and banking, having served the Government of Malaysia, Credit Lyonnais and Bank Kerjasama Rakyat as well as Esso Malaysia and Alcatel Malaysia. She is a member of the World Islamic Economic Forum (WIEF) Board of Trustees, sits as a member of its International Advisory Panel, and is Chairman of the WIEF Businesswomen Network. Currently, Dato Dr Norraesah is the Executive Chairman of MyEG Services Berhad and also holds directorships in 5 other listed companies, namely, Adventa Berhad, KESM Industries Berhad, Protasco Berhad, SBC Corporation Berhad and Ya Horng Electronic (M) Berhad. Dato Dr Norraesah s role in the Company includes participating in strategic planning and discussions for the purpose of identifying new prospects and opportunities, as well as providing assistance pertaining to government relations and securing of commercial projects. Other than as disclosed, Dato Dr Norraesah is not a director of any other public company. She does not have any family relationship with any of the directors or major shareholders of the Company. She has no conflict of interest with the Company and has not been convicted of any offences within the last 10 years. 18 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Board of Directors Profiles Ahmad Fauzi, a Non-Independent Non-Executive Director, was appointed to the Board of the Company on 12 January 2005. He is also the Chairman of the Nomination Committee and a member of the Audit Committee and Remuneration Committee. Ahmad Fauzi earned his BSc (Hons) in Computation from the University of Manchester, Institute of Science and Technology, United Kingdom. He has over 25 years experience as a technology entrepreneur, management consultant and systems integrator in the IT industry and has spent over 10 years as a venture capital partner. Starting out as a Management Consultant at Arthur Andersen & Co, he established his own information services business in 1982. In 1987, he founded Sapura Advanced Systems Sdn Bhd ( SAS ). In 1999, he founded First Floor Capital Sdn Bhd, of which he was a partner until 2007. Ahmad Fauzi is currently also a director of Synamatix Sdn Bhd (a substantial shareholder of the Company) Other than as disclosed, Ahmad Fauzi is not a director of any other public company. He does not have any family relationship with any of the directors or major shareholders of the Company. Ahmad Fauzi has no conflict of interest with the Company and has not been convicted of any offences within the last 10 years. Ahmad Fauzi bin Ali 52, Malaysian, Non-Independent Non-Executive Director A n n u a l R e p o r t 2 0 1 1 19
Board of Directors Profiles Loh Lee Soon 56, Malaysian, Independent Non-Executive Director Loh Lee Soon, an Independent Non-Executive Director, was appointed to the Board of Directors of the Company on 22 January 2010. He is also the Chairman of the Audit Committee and a member of the Nomination Committee. Loh Lee Soon is a member of the Malaysian Institute of Accountants and the Institute of Chartered Accountants in England and Wales. He has spent nearly 30 years in the professional accounting, finance and management consulting fields, including 6 years as Consulting Practice Director in KPMG Malaysia. He has also held senior finance, general management and sales positions with multinational corporations including Tupperware International, KPMG Asia Pacific, Oracle Corporation, the UEM group and a number of other private Malaysian companies. Loh Lee Soon is currently the Principal of his own IT consultancy firm which provides services primarily in the areas of business process optimisation and IT enablement, management skills training and organisation alignment. His clients hail from diverse industries ranging from gaming, IT and supply chain logistics, to manufacturing, distribution and property development. He is also an Independent Director of SCICOM (MSC) Berhad, Etiqa Insurance Bhd, Etiqa Takaful Bhd and Mayban Investment Management Sdn Bhd. Other than as disclosed, Loh Lee Soon is not a director of any other public company. He does not have any family relationship with any of the directors or major shareholders of the Company. He has no conflict of interest with the Company and has not been convicted of any offences within the last 10 years. 20 Malaysian Genomics Resource Centre Berhad (Company No. 652790-V)
Board Committees AUDIT COMMITTEE Name Designation Directorship Loh Lee Soon Chairman Independent Non-Executive Director Tan Sri Datuk (Dr) Rafiah binti Salim Member Senior Independent Non-Executive Chairman Ahmad Fauzi bin Ali Member Non-Independent Non-Executive Director REMUNERATION COMMITTEE Name Designation Directorship Tan Sri Datuk (Dr) Rafiah binti Salim Chairman Senior Independent Non-Executive Chairman Dato Dr Norraesah binti Haji Mohamad Member Executive Director Ahmad Fauzi bin Ali Member Non-Independent Non-Executive Director NOMINATION COMMITTEE Name Designation Directorship Ahmad Fauzi bin Ali Chairman Non-Independent Non-Executive Director Tan Sri Datuk (Dr) Rafiah binti Salim Member Senior Independent Non-Executive Chairman Loh Lee Soon Member Independent Non-Executive Director Profiles for members of the Board Committees are available on pages 15 to 20 of the Annual Report. A n n u a l R e p o r t 2 0 1 1 21