Issue.14 Tan Sri Halim

Boardview www.minda .com.my

Enhancing Board Effectiveness

Issue No.14 September-December 2015

KDN No: PP16092/12/2013(033154)

TAN SRI HALIM ALI

LEADING AN
EFFECTIVE BOARD

FEATURE
Governance, Risk
and Compliance
(Part Two)
E ective Board
and Director
Evaluations

Contents

Issue no.14 September - December 2015

Feature Articles

04 Leading an Effective

Board – Tan Sri Abdul
Halim Ali

08 Board Effectiveness: EDITORIAL TEAM
Editor In Chief
Leadership and Governance Dato’ Abdul Aziz Abu Bakar

11 Governance, Risk and Content Management
Mazni Ahmad Norilah
Compliance (Part Two) Premkumar
Diana Seow
16 Focusing on What Matters REGULARS Simren Kaur
19 Effective Board and
30 Book Review Communications and Marketing
Director Evaluations 31 Event Highlights Diana Seow
37 MINDA Public Simren Kaur
26 Developing the Talent
Programme Calendar 2016 BOARDVIEW is a complimentary
Gene Pool bi-yearly publication by MINDA
for alumni and members. The
38 Premier Alumni List views of and opinions expressed
in this publication do not
necessarily reflect those of
MINDA, its management or its
editorial staff. All information is
correct at time of print.

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3
From the CEO's Desk

Effective Board Leadership

Dato’ Abdul Aziz Abu Bakar Welcome to MINDA’s 14th issue of Boardview
CEO “A true leader has the confidence to stand alone, the courage to make tough decisions and
the compassion to listen to the needs of others. He does not set out to be a leader, but becomes

one by the equality of his actions and the integrity of his intent”
– Douglas MacArthur, 1880-1964, American five-star general and Field Marshal of the

Philippine Army.

In this issue, we spoke to our cover personality, Tan Sri Abdul Halim Bin Ali on “Leading
an Effective Board”. He shared his valuable experiences on the boards he sits, key
success factors, challenges and tips on maintaining board effectiveness.
Some important points that Tan Sri Halim pointed out and MINDA echoes are the
importance of having a diverse board and a robust discussion and participation of
Directors that are largely determined by their knowledge, skills and mindset. These are
MINDA’s ongoing mission and I am delighted to note that this mission has brought us
to a greater height.
Under the mandate of SC and Bursa Malaysia, we now have an expanded role i.e.
from an academy to the Malaysian Directors Institute (MDI) with the availability of
membership to fellow directors and a directors registry called MINDA Directors Portal
(MDP). MDP will facilitate the automation of Directors Development Programme
enrolment and attendance record, hosting of a wide range of online resources and enable
directors to update their profile. Those who have the capacity and wish to serve more
boards can make themselves available for any board openings. At such, MDP can help
companies to widen their searching pool and narrow down the search in accordance to
their competency criteria.
Our expanded role comes about as our experience and reputation grow in GLCT in
board effectiveness and development initiatives. Since then Securities Commission
Malaysia and Bursa Malaysia have called upon MINDA to play a more active role in the
pursuit of higher corporate governance and activism not just for the GLC but also in the
Capital Market be it a public listed, not-listed or family-owned or private sector. With
this, I have written an article on our journey from the very beginning to where we are
heading to on page 8.
Across the globe, we have featured an article on the hot growing trend of Board
Effectiveness Assessment (BEA) and Individual Director Evaluation (IDE). Board
Assessment expert and our long-time lead faculty, Beverly Behan wrote about how
Canada, US and UK are developing around this growing practice and what are the
important considerations to increase the credibility of the assessment. Do check out her
article on “Effective Board and Director Evaluations” on page 19.
Last but not least, my sincerest gratitude goes out to to all our contributors. To our
Academy Alumni and MDI Members, please keep the feedback coming in by writing to
us at [email protected].
Please enjoy the rest of Boardview.

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Cover Personality

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Cover Personality

Leading an
effective board

– TAN SRI ABDUL HALIM ALI –

By Boardview Editorial Team

With his vast experience and impressive portfolio, Tan Sri Abdul Halim
Ali makes the perfect candidate for our feature interview in this issue.
His illustrious career spans over 30 years in the civil service covering the
Ministry of Foreign Affairs and the Prime Minister’s Department and
upon retirement, he was offered Directorships on the Board of several
Corporations. The 72 year old is serving his chairmanship in Multimedia

Development Corporation, Universiti Teknologi Malaysia, IJM
Corporation Berhad and Sedania Innovator. He is also currently heading

the board at the Malaysia Building Society Berhad (MBSB), where he
speaks to us about his capacity as a chairman and board member. His deep
understanding of the roles of the board and chairman are invaluable to us

here at Boardview.

Echoing what is advocated by the Malaysian Directors and circulated by the management to all the members
Academy (MINDA), Tan Sri Halim agrees that an at least a week in advance so that they have sufficient
effective chairman is fundamental to a company time to read the papers and attend the meetings fully
where board performance and board effectiveness are prepared for effective discussion and decision-making.
key hallmarks of a thriving organisation. A chairperson Though this is not possible all the time due to the
has the pertinent role to encourage the management need to present late papers for urgent deliberation by
and company to strive for high standard of performance the Board, the rule nevertheless remains an important
and competitiveness. obligation for the Management to comply.
At MBSB, the Board meets regularly at least once a Here, Tan Sri Halim has the responsibility to guide the
month, inclusive of the four quarterly meetings. One meeting so that it proceeds smoothly and a decision
of the things that Tan Sri Halim must ensure for a is reached within the allotted time. He believes it is
productive meeting is that the board papers are prepared important to manage the discussion in a way that will

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Cover Personality

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Effective
Culture

Board Culture

Business Conduct Strategy & Risk | Performance Management |
Succession & Human Capital | Balanced Shareholders’ Values & Stakeholders’ Interest

Figure 1: The 3 Components That Make An Effective Board

give Directors the opportunity to express their views loans but very little new business to talk about. The
and yet keep the discussion relevant and focused, at the huge improvement in the Company’s performance came
end of which a decision could be taken. when Dato’ Ahmad Zaini took over as CEO in 2009,
Tan Sri Halim believes that a Chairman should be alert bringing with him a wealth of experience from Ambank
to what is going on in the country and outside, which Islamic. He introduced fresh ideas and proposed a new
may affect the business the Company is involved in. It is strategy to the board in terms of expanding the business
his responsibility to bring the matter to the attention of and generating larger revenues. The hard work has paid
Board immediately and initiate a discussion even though off as MBSB made a profit of over RM1 billion after tax
it may not be in the original agenda of the meeting. just last year.
Needless to say, the role of a chairman is one abound One of the measures that MBSB undertook was to bring
with challenges on and off the board. “Today, into the board new people with the right experience
there are many people who are not keen to become and skill relevant to the company as a financial services
members of the board, especially in certain industries. provider. The company brought in bankers, accountants
The responsibility is too heavy, more so now when and lawyer which are appropriate to the needs of a
compliance with corporate governance requirement, financial institution.
the rules and regulations, are seen to be very onerous.
Boards are closely monitored by the Regulators to make The principles of a man
sure there is full compliance,” he explained.
Coming from the civil service, Tan Sri Halim has While a chairman may be the face of a company, he also
learned to adapt to the private sector where the issue stands as the voice of reason. Tan Sri Halim describes the
of governance is managed differently. When he joined board at MBSB as a robust one where every member is
MBSB in 2001, it was a stressful period due to the ripple encouraged to express his or her views. This has proven
effects of the 1998 financial crisis. It was a time when to be tricky sometimes especially when some members
many construction companies and property developers want to speak more than they should. The challenge
went under; MBSB which had financed quite a number to the Chairman is to give every member a chance to
of these companies found itself unable to recover the participate and yet keep the discussion focused so that
loans it had given out. enough time is available to cover other subjects on the
It was only in 2004 that MBSB managed to turn around agenda and within the time allotted.
when it registered a small profit from recovery of old Tan Sri Halim believes that effective control at Board
meetings comes from experience and knowledge of the

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Cover Personality

issues being discussed. Poor control of Board meetings the best interest of the Company and the shareholders
not only wastes time but can create bad blood among including minority shareholders.” He was honoured
some members, something that Tan Sri would like to with the Chairman of the Year 2014 award by Minority
avoid. Shareholder Watchdog Group (MSWG) last year as
“The role of the board is not to find fault but to bring IJM’s Chairman. Tan Sri Halim credits the success to
improvement and grow the company’s business. My the robust Corporate Governance process of IJM which
style is to adopt an open attitude; I encourage people to made his work as Chairman of the Company easier.
speak and participate in the discussion. But sometimes, Tan Sri Halim’s advice for those who are new to the
the chairman must draw the line between fair comments board is to first understand the nature of the business.
on company business and micromanaging.” Shareholders today are a sophisticated lot and they
This is a sentiment that MINDA echoes – an effective expect sensible answers from the board. As such, it pays
board is one that works closely with management. to read and keep up with the latest news related to the
The board should function as a thought-partner industry you are in. “You must understand the local and
to the Management and sounding board where global development that will impact your business, it
different perspectives are mulled over openly to is part of risk management. A board member cannot
achieve a unanimous consensus. A best practice that claim ignorance anymore simply because he or she
MINDA advocates to directors is to hold small group comes from a different background. Knowledge of the
consultations prior to going to the board for a definite company’s business and the environment it operates
resolution, something which is critical for overall within is a must.
corporate performance. We are pleased to learn that the Self-development is an integral part of chairmanship. A
concept of open discussion among board members and particularly useful tip that he has learned from his years
senior management is a strong practice at MBSB. of experience leading an effective board is to seek out a
“Our working relationship is very good. We understand good role model. Take the time to study his or her style
each other. I adopt the open door policy, so management as a chairperson and identify unique characteristics that
can come and see me anytime. I do get requests from stand out. Adopt those principles as your own and you
people to help expedite things but it is not in my practice will see the difference.
to interfere with the management of the Company or to Tan Sri Halim has personally benefited from MINDA
take sides or favour of any particular group.” and the courses on corporate governance that help train
The “Tone at the Top” is a reflection of the values and directors to be more efficient in their role. As a MINDA
behaviours that the company believes in. Tan Sri Halim alumni, he has found these sessions to be an opportunity
holds strictly to two virtuous characteristics – integrity to learn from the experiences of others and to network
and honesty, both of which were instilled in him during with those from different industries. The programmes
his time in the civil service where leadership by example have also served as a reminder for him. “When we
was the order of the day. He said, in his career, he attend MINDA’s programmes, we are reminded again
had seen several instances where these principles were and again about the role of the board, the chairman,
compromised leading to negative consequences to the and our responsibilities. At times I do feel guilty for
nation. the things that I haven’t done yet in that capacity,” he
admitted.
Traversing the boards Tan Sri Halim is passionate about the work he’s doing
now and feels at home at the board. “I find going for
Tan Sri Halim is regarded highly among many boards board meetings gives me the energy, keeps me on my
and companies. His experience on the board of toes and makes me feel alive. I get to learn new things on
numerous companies such as MBSB, Esso Malaysia the sideline of the meeting, like the latest development
and later Petron Malaysia, IJM, MDeC, Sedania, etc. in the corporate world, movement of top executives
has helped him in identifying the strength and tackling from different industries, etc.
the gaps of each establishment. “Whatever background Our interview with him is a great testament of the
you come from, you must know the company and its relevance of our advocacy on how the board culture,
business well. It is how you can contribute effectively. board structure and board process can make up an
In my experience, all the independent board members effective board. BV
I’ve worked with have no vested interest. We speak
the truth, we tell management our views and work in

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Featured Article

Board Effectiveness;

Leadership and
Governance

By Dato’ Abdul Aziz Abu Bakar

The recent GLC Open Day 2015 on 7 to 9 August celebrated
the ‘graduation’ of Government-Linked Investment Companies
(GLICs) and Government-Linked Companies (GLCs) from the

10-year GLC Transformation (GLCT) Programme.

What Does GLCT Programme and Its This paved the way for partnerships with other schools
Graduation Means to MINDA like Insead, Harvard, etc and having more top class
practitioners to Malaysia to expose our local directors to
The establishment of MINDA was in pursuant to international best practice and standards.
initiative number 2 of the GLCT programme ie. MINDA was registered as a company limited by
Strengthen Director Capabilities (for full GLCT guarantee, owned by Ministry of Finance (MOF). It
programme initiatives please refer to http://www.pcg. was “incubated” within the secretariat of the Putrajaya
gov.my/trans_manual.asp). Based on the findings of Committee for GLC Transformation (PCG), housed at
the McKinsey study, there needed to be some kind Khazanah Nasional Berhad. This gave the perception
of institution to focus on the development of the that MINDA is a Khazanah company. By 2009,
Board, not only to provide training but also to provide MINDA was deemed ready to operate independently
development. as a full-fledged independent organisation. The board
To kick-start a development programme, we picked of MINDA was established, and Dato’ Ahmad Pardas
IMD to be our partner as the institution already has Senin was appointed as Chairman much due to his
an established director’s programme known as Building passion for people and leadership development in UEM
High Performance Boards, which suited our needs. Group. I joined him as CEO in October 2009.

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Dato’ Ahmad’s experience in UEM Group and BAT UEM Group was selected as one of the 20 companies
Berhad provided a strong leadership foundation in under Khazanah that will partake in the GLC
MINDA. UEM Group is a diversified conglomerate Transformation Programme. The group was involved
with businesses in concession expressways, construction, with the study conducted by McKinsey & Co, and took
engineering & properties, and with more than 20,000 part in the design of what was later known as the Board
employees. The biggest challenge was how to orchestrate Effectiveness Assessment Survey, and the proposed
these components to head the same direction, and move guidelines that were adopted into the Green Book
in unison. (initiative number 2: Enhancing Board Effectiveness).
Dato’ Ahmad’s first-hand GLCT experience in UEM
“One of my rallying call to our employees then was to Group helped us to address the task at hand better and
work with me and put in all our efforts and energy to more effectively.
create value for all stakeholders, with the conviction
that if all works well, we will be able to deliver value
and reverse the unfavourable market perception. This Enhancing Board Effectiveness
would have a favourable effect on financial returns continues…
for shareholders, and potentially improving market
capitalisation to a more reasonable level as well. Today, MINDA is the Natural Born Owners (NBO) of
Internally, we refer to this project as “Mission 300”. the Green Book where we are the custodian to ensure
that the GLCs do not lose steam and focus to keep
I remembered when we presented our Business enhancing board effectiveness. We understand that
Plan that included this strategy to the Board board composition is an important element of board
of Directors, there were scepticism. One board effectiveness. It is vital for an organisation to get the
member remarked that it was wishful-thinking, right composition of the board that takes into account
whilst another commented “you can always the members’ experience, education, age and gender to
dream!”. Quite discouraging actually. avoid a complete disconnect and ensure
alignment with the company strategy.
We set out on a mission to create value for This is where having a structured Board
all stakeholders, through productivity & Effectiveness Assessment (BEA) and
growth. We introduced a group value- Individual Director Evaluation (IDE)
creation architecture that focuses on will be able to help. Over the years, we
five pillars: Productivity of resources, have developed proprietary solutions that
Expansion of our businesses, People and have helped organisations to turn from
organisational development, Systems & inward focussed to be outward looking.
processes improvement, and Image & And I hope more organisations can see
perception improvement. The team came and reap the benefits of this exercise.
up with an acronym “PEPSI” for this.
Conceptually we introduced a 2-tier The board composition should be gender
foundation of these pillars. One is our neutral, based on competency and
shared-values of Teamwork, Integrity, maintain certain professional standards
Passion for success, and Sincerity of in its nomination process. We have
intent, with the acronym “TIPS”. The (For more details on Dato’ developed MINDA Directors Portal
Ahmad’s personal journey in the (MDP) where it serves as a gender-neutral
Directors registry, help Directors to track
other foundation is the development of GLCT, please refer to Khazanah’s
effective business leaders. publication “Voices”.)

It was clear that every company and their employees their knowledge and skills acquired and
needed to work together in order to achieve the get access to global best practices in board effectiveness
elusive group synergy. This was one of my primary and corporate governance.

focuses. I have always been a firm believer in the To be an effective director, he or she must be prepared
development of people, as the individuals are the in terms of knowledge, skills as well as mindset
backbone of any organisation. If we invest the time (behaviour). These are among the major attributes that
to manage the people well and groom them to be MINDA constantly addresses on. As for boards, we
leaders in their own field, the organisation stands focus on their fundamental roles and responsibilities
to gain and prosper.” e.g. good corporate governance, strategic leadership,
talent development etc. For example, our Building
Dato’ Ahmad Pardas Senin

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Figure 1: The Expanded Role • Directors Programmes
of MINDA – Brown box is our • Continuous Professional Development
current role and we are in • Assessment
the process of implementing • Accreditation
the green boxes.
1

6 Professional 2 • Case Studies
Learning & Research • CG Index
Director Development • Board Effectiveness
Sourcing & • Director Roles
• Directors Portal
• Directors Registry Board
• Directors Sourcing Placement
• Board Placement

5 3
Advocacy
• Board Effectiveness Board & 4 • Regulatory Sounding Board
Assessment (BEA) Director • Good Corporate Governance
Assessment • Thought Leadership
• Individual Directors • High Performance
Evaluation (IDE) • Current Issues

• Directors Gap Professional
Analysis (DGA) Membership

• Fellow and Associate Member
• Member-Only Resources

High Performance Director (BHPD) Programme seeks upon MINDA to play a more active role in the pursuit
to enhance the board and organisation’s performance of higher corporate governance and activism not just for
with a wide range of experiences in different cultures, the GLC but also in the Capital Market be it a public
industries and governance framework. MINDA also listed, un-listed or family-owned or private sector.
developed a series of advanced programmes that focus The task to address board performance and to equip
on key performance areas of directors such as Finance, Directors with world-class knowledge, skills and
Strategy & Risk, Human Capital, Ethics, Innovation mindset remain the same; but our audience has gone
and Mergers & Acquisitions. We constantly engage with larger to include the capital market at large.
directors to understand their needs and at the same time In the years to come, MINDA will be actively involved
advocate good corporate governance. in professionalising board placements, directors’
assessments, research and advocacy on directors’ issues
From an Academy to an Institute for the and leadership.
Capital Market I would therefore like you to join me in the quest to
Enhancing Board Effectiveness by signing up for a free
The results of the GLCT Programme and the role that online Account in MINDA Directors Portal (MDP) at
MINDA plays in this, has shown much progress and www.minda.com.my and join the Malaysian Directors
value to stakeholders, board directors and management. Institute (MDI) membership. BV
As our experience and reputation grow, Securities
Commission Malaysia and Bursa Malaysia have called

Datuk Ranjit Ajit Singh, Chairman of Securities Commission Malaysia delivered an opening remark at the Beyond2020 Conference
on 20 May 2015 organised by Australian Institute of Company Directors (AICD

“MINDA, which is Malaysia counterpart to Australian
Institute of Company Directors (AICD) has been
proactive in engaging with AICD in its effort to
establish the MINDA Directors Institute in Malaysia”

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Featured Article

Governance, Risk
and Compliance

(Part two)

By Alan Simmonds

Introductionn the first article of this series we introduced GRC The focus of this article1 is on the Protection of Assets,
being critical for all functions and all asset types across
(governance, risk and compliance) as an organisational the organisation.
Previously we proposed a universe of assets in the IT
Icompetence to help achieve and also sustain strategic space that require management and recognising that
each of these assets has associated use, ownership/
objectives. Specifically we proposed three core GRC stewardship, operation, involvement, influence, and
capabilities: adoption across the organisation. Within the IT space
· Protection of assets we recognise further challenges such as accelerated pace
· Compliance of change and the consequential impact that can occur
· Consistent service provision with increasing uncertain frequency and magnitude.

1 As this series is written with IT in mind, we retain the focus on this discipline while recognising that IT risk is always inherent in all organisations whether or not they recognise or
detect it. It should also be recognised that the approach taken throughout this series is also generally applicable to areas outside IT

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In this series we differentiate between capabilities, Competencies arise from
competencies and frameworks: collective learning across the
· Capabilities are defined as the set of organisational, organisation, especially the
capacity to coordinate differing
personal or system abilities that typically require skills to integrate these across
a combination of organisation, people, processes the technology and operational
and technology to achieve. Capabilities are directly landscape of the organisation –
related to the operations and functioning of the they are particular strengths
organisation and are necessary to deliver and sustain relative to other organisations in
the organisation’s strategy the same industry which provide
· Competencies arise from collective learning added measurable benefit
across the organisation, especially the capacity to
coordinate differing skills to integrate these across the amount of information that can be created from that
the technology and operational landscape of the data. This can lead to unintended consequences such as
organisation – they are particular strengths relative information leakage, reduced focus on asset security
to other organisations in the same industry which and limited capability to respond when assets are
provide added measurable benefit compromised. Typically we expect asset protection to
· Frameworks should contain a detailed method, consider the characteristics of assets such as availability,
supporting tools, common standards, an confidentiality, integrity, volatility and access. ISO
organisationally-relevant vocabulary, monitoring 27000 provides a firm start in that it identifies current
and reporting, identified metrics and KxIs (x = best practice recommendations on information security
Goal, Performance, Risk, Assessment etc.)

Protection of Assets

While this capability refers to the digital and physical
assets of the organisation our focus is on IT and in
particular digital assets. Most organisations are not clear
about how much data they own or have access to – in
operational and archival systems – and consequently this
leads to the proposition that they are often unaware of

GRC Overview

Protection of Assets

Manage Sustain strategic

risk Standards objectives

Internal, external,

regulation, legislation

Compliance Deliver measurable Consistent
benefit Service Delivery

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GRC Framework Compliance GRC Framework Characteristics
Management
Standards • Protects and enhances measurable business value by
Management Controls promoting a risk-aware culture, supporting informed
Management decision making, and addresses multiple compliance
Risk obligations and assurance capability
Management
• Enhances operational efficiency by rationalising risk
Governance Reporting Monitoring management, control, and assurance structures and
process
Assurance Continuous
Improvement • Provides a proactive and dynamic approach by
enabling IT to more quickly, consistently, and efficient-
ly respond to challenges arising from evolving risk
profiles and rapidly changing regulatory requirements

• Supports IT strategy by meeting compliance
objectives while improving performance through the
use of an integrated framework

• Establishes and maintains the connection with
business strategy

management and controls within the context of an · Increase in procedural controls and individual
information security management system. compliance requirements (less convenience)
Assets such as credit rating, market position, reputation
etc. must be considered within the remit of asset · Users relinquish control and self-reflective IT use in
protection – each of these, and others, must be protected exchange for organisational protection
against value dilution through theft or compromise.
Taking the above into account it is now possible to · Limited functionality and reduced set of available
propose the basis of a GRC framework that will be applications create an illusion of security
developed during this set of articles and culminate in a
target operating model to assist in the establishment of · Trend toward prescriptive rule setting rather than
an enterprise-wide ERM capability. principles-based security governance
With the spread of the web, extended company
structures, cloud and Bring Your Own Device (BYOD), · Shift toward user/employee liability in the context
etc. it is necessary to consider a formal risk management2 of strict rules for IT usage, little tolerance for human
approach within an enterprise-wide GRC initiative. error
The protection of assets requires investment in
technologies, staff awareness and corporate behaviour. All of which themselves subtly, but significantly, play upon
The balance between organisational expenditure and the perception of the prioritisation of the individual risk
risk should be managed through IT governance (see metrics within the overall risk-space, itself an unintended
adjacent figure). consequence. The practice of asset protection is wide-
Even when this investment has been made we are ranging and must include the establishment of policies
reminded[1] of a series of unintended consequences: and procedures for inventorying, tracking assets, and
reporting on information technology and digital related
assets.
Assets are by definition what provide measurable value
and capability to organisations and as such the approach
must include exploring opportunities for maximizing or

2 Risk management refers to the architecture (principles, framework and process) for managing risks effectively, while ‘managing risk’ refers to applying that architecture to particular
risks [ISO31000]

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Disciplines and Deliverables Deliverables
Disciplines Measurable Benefits

IT Governance Risk Optimisation

Governs Supports Resource
Optimisation
IT Risk Management IT Compliance

exploiting unused or partially used IT assets to achieve Ensure service is provided
full efficiency and delivery positive ROI. In this set of in accordance with the
activities we must include the supporting planning, organisation’s procedures/
monitoring, maintaining and recording of all xLAs (x processes and controls
= enterprise, service and operational) – particularly for
those assets that are provided (and potentially managed): · Be aware of and factor in the subtleties of large
transactions such as M&A, JVs, divestments on the
Externally full process of asset protection on the current and
future state of the asset base
· Develop, establish, implement, and enforce supplier
and outsource service provider strategies, guidelines · Continuously monitor, assess and improve the asset
and obligations protection capability, including the adoption and
sharing of best practice
· Establish and manage vendor and outsource service
provider audits when required · Ensure service is provided in accordance with the
organisation’s procedures/processes and controls
· Manage contracts and relationships to maximise
measurable benefit and reduce costs for licensing, · Create and publish regular scorecards for asset
maintenance, and service offerings. performance and risk profiling of each asset and
asset class
· Compare warranties, maintenance agreements, and
vendor (hardware, software, cloud and other service) As a general capability asset protection should also
contracts to assist with asset maintenance, upgrades, include monitoring and analysing trends in investment
repair and replacement and return in order to make recommendations and to
identify areas for asset optimisation and protection that
· Manage contracts so that they support monitoring were previously not recognised.
the performance and contract compliance of all
suppliers When assets are compromised

Internally As organisational assets may be compromised through
many different means we should be aware that the GRC
· Conduct and report asset reconciliation and audit framework must consider how to protect and manage
activities on a timely basis, including financial, the impact across a wide range of areas. Specifically the
licensing, warranty, and maintenance/support framework must recognise the following[1]:
contract information

· Communicate asset (management and) protection
strategies

· Research industry best practices and compare
against the organisation’s practices in order to
establish benchmarks for protecting IT assets

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A complete plan for asset protection must also include crisis management for
when our organisational assets (digital and others) are compromised

· Operational impact · Enhancing the measurable benefit and coverage of
· Reputational impact existing risk assessment and review processes
· Immediate financial damage
· Indirect financial damage Next time
· Contingent financial damage
· Legal and legislative impact We’ll be looking at Compliance as the second of our
A complete plan for asset protection must also include three core GRC capabilities and start to introduce the
crisis management for when our organisational assets concept of a target operating model to support our
(digital and others) are compromised so it is necessary approach.
to consider: Note: Previously we mentioned that the three core GRC
· Speed, precision and effectiveness of communication capabilities are linked through a backbone of standards
(including regulation, legislation, internal organisational
within the organisation and also to those outside the standards, policies, principles, guidelines and standard
organisation who are directly or indirectly affected operating procedures) – this will be addressed as a
· Consistency of message – being ‘on message’ is separate article). BV
critical during this stage as future communication
will build on the initial information burst References
· Access to the right information for those who need
it for recovery and communications [1] Transforming Cybersecurity: Using COBIT 5,
· Decisive and orchestrated remedial action by all ISACA, Information Systems Audit and Control
major stakeholders (internal and external) Association, 2013.
· Clear and articulated recovery strategy About the Author
This part of asset protection must be proactive and is
dependent on good planning, appropriate training, and Alan Simmond has over 29 years of practical
effective early detection systems. experience in governance (technology, corporate
and contract) and strategy across a broad spectrum
Takeaway messages… of industry and commerce resulting in a proven
capability of helping organisations meet their
GRC, when fully implemented, will assist in improving regulatory and legislative obligations.
risk management and compliance efforts by: He has significant practical experience of how governance
· Reducing inconsistent risk identification and and regulatory issues are successfully managed and adopted
by organisations through the innovative use of organisational
assessment approaches structures, processes, controls, audit and assurance.
· Improving the coordination among the risk Alan is a key contributor to COBIT 5 ( ISACA) and TOGAF (
Open Group) in the area of architecture governance and is the
management and compliance functions prime author of the research paper Governance of Outsourcing
· Optimising costs associated with risk management for the ITGI.

and compliance across the organisation RELEVANT MINDA PROGRAMMES
· Focussing on standards, and the correct
• CDAP: Strategy & Risks @ 19 & 20 Apr 2016, KL
organisational responses and behaviours • CDOP KL @25 & 26 Nov 2015, KL, @23 & 24 Feb 2016,
KL, @25 & 26 Oct 2016, KL

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Featured Article

Focusing on
what matters

By Datuk John Zinkin

One of the problems faced by boards and, in particular, by
independent directors (INEDs) is the mountain of documentation
they receive just before board meetings. With so much information
to digest in so little time, where should they focus their attention?

Perhaps the simplest answer to this question is that Defining the organisation’s sustainable
INEDs should focus on ensuring the most important purpose
assets of their organisation are in great shape for the
long-term success of the business. Doing that requires It is the responsibility of the board as a whole to define
paying attention to the purpose of the organisation and the organisation’s purpose. To do this, once every five to
its sustainability; strategy and its implementation; and ten years, directors must decide on who are the expected
the risks to the assets needed to implement the strategy. beneficiaries of the organisation (this applies just as
In doing this, directors should remember that there are much to not-for-profits, charities and cooperatives, as
three parts to shareholder value: the creation of value; it does to public listed companies). They must then
the extraction of value; and the distribution of value. If determine the difference the organisation will make
INEDs can bear these points in mind and act as stewards in the lives of the designated beneficiaries; the value
of long-term shareholder value, they ought to be able to those beneficiaries will place on the goods and services
focus on what matters for the long-term success of their provided; the implied rates of return; and as a result the
business. In the rest of this article, I will deal with the parameters and metrics by which the organisation will
three focus areas in turn. be managed by the CEO.

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Featured Article

The next step is to ensure that this purpose is sustainable. There is, however, a real potential problem in getting
This requires assessing whether serving the beneficiaries the same people who choose strategy and hire the CEO
represents a big enough opportunity to warrant the to implement it to then oversee how well this is done.
necessary investment and that this opportunity will last Directors are human. They may become emotionally
into the foreseeable future. Directors must be satisfied invested in both the strategy choice and in the
that both the targeted beneficiaries will still be there in performance of the CEO. Their willingness to recognise
another five to ten years’ time and that the needs that that a strategy may be wrong or the CEO should go can
are being satisfied will not be eroded by changes in be impaired by the fact they were involved in choosing
demographics, technology or fashion. Finally, directors that strategy and hiring the CEO in the first place. This
will also need reassurance that the organisation’s “Licence may explain why it often seems to take a long time
to Operate” is not threatened by changes in society’s view for a board to take action when it is clear to outsiders
of the acceptability of providing such services. Boards the strategy was wrong and the CEO cannot turn the
must keep a constant watch on how the organisation is company around quickly enough.
viewed by the communities in which it operates, just in Effective and efficient implementation of strategy is a key
case there is an adverse change in the public’s attitudes, part of value extraction and so is financial engineering.
which could translate into either a decline in demand or Directors must therefore understand the benefits and
a change in legislation and regulation, making it more drawbacks of using return on equity as a KPI. Higher
difficult or even impossible to adhere to the originally gearing extracts more value for shareholders by reducing
agreed purpose. the amount of equity over which the returns must be
shared. Unfortunately, whereas high gearing may make
Reconciling value creation and value sense in businesses which are relatively steady-state and
extraction not subject to liquidity crises where the balance sheet
can disappear almost overnight, it does not make sense
Once there is agreement on the purpose and its in banking. It took two years for General Motors to go
sustainability, the board must agree the strategy to bankrupt; it took a weekend for Bear Stearns.
achieve the desired purpose and its agreed implied rates What are directors supposed to do when a bid is made
of return. The choice of suitable strategy is perhaps for their company that puts a 45% premium on the
the most important decision the board must make. Its going market rate, as happened with Pfizer’s failed bid
importance is reinforced by the fact that Booz & Co for Astra Zeneca? It was clear that the bid would create
found that the wrong choice of strategy represented no value for Astra Zeneca’s customers, employees or the
60% of shareholder value destruction. In banking, the UK. It was based on exploiting a loophole in US tax laws
collapse of Bear Stearns, Merrill Lynch, Washington that would lead to a substantial saving in taxes which
Mutual, Countrywide Financial and Lehman Brothers would be passed to Pfizer’s shareholders. If the only
in the US and Northern Rock and HBOS in the UK duty directors have is to extract the maximum value and
can be attributed to their boards failing to challenge the then distribute it to shareholders, then the Astra board
strategies embarked on by their CEOs. The same can be should have approved the bid. However, they rejected
said of the near death experiences of Switzerland’s UBS the bid on the grounds it was not in their customers’
and the UK’s RBS. The choice of business purpose and interests, nor in the interests of the employees, nor in
its associated strategy is where 60% of value is created the interests of the UK. The institutional investors were
or destroyed. divided: some were angry the immediate premium was
denied them; others accepted considering the wider
Assuming there is no problem with the choice of stakeholder interests was legitimate.
strategy; directors are then required to oversee its Maximising shareholder value is not the sustainable
implementation, which matters because problems purpose of a business; creating and maintaining loyal,
of implementation represented 27% of shareholder satisfied customers is. The problem with straightforward
value destruction according to the Booz & Co study. shareholder value maximisation is that different
Compliance is also part of the oversight responsibility shareholders have different time horizons and different
of directors and failures of compliance caused 13% of expectations of returns. Just focusing on maximising
shareholder value destruction, though this may now be short-term shareholder value is a recipe for long-term
higher, given the record-breaking fines being levied on
banks.

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Featured Article

failure. Management will not undertake the R&D and Directors need to focus on defining
investments essential to the long-term health of the a sustainable business purpose;
organisation if all that matters is meeting 90 day targets. setting a strategy to meet that
CEOs will not look beyond the term of their contracts, purpose and making sure it is
if their KPIs and remuneration depends on short-term implemented effectively.
performance. It is the responsibility of directors, as
stewards of the organisation’s future, to ensure that does most important KPI protects management from the
not happen by ensuring the assets the organisation has temptation to ignore values in an attempt to meet short-
are both “fit for purpose” now and in the future and term financial KPIs. It also makes it less likely the board
minimising the risks to those assets. would agree to strategies with adverse reputational
consequences that put the organisation’s long-term
Protecting the organisation’s assets “Licence to operate” at risk. Reputation takes years to
build, but is destroyed in days and takes an enormous
As stewards of the organisation’s long-term future, amount of time, effort and money to restore. Just think
directors are expected to approve those actions and of the damage done to Exxon’s market capitalisation as a
investments which enhance the value of the assets result of Exxon Valdez, to BP’s over Deepwater Horizon
allocated to deliver strategic success. Directors do this or to Nike’s over the use of child labour.
whenever they approve annual budgets and strategic
plans, which are couched in the language of finance, Conclusion
shown on the balance sheet. Directors recognise the need
to invest in fixed assets, to depreciate them based on Directors need to focus on defining a sustainable business
their expected useful life and so on. Yet directors spend purpose; setting a strategy to meet that purpose and
too little time on the two most important assets for the making sure it is implemented effectively. This requires
organisation to enjoy long-term success. Perhaps this is finding ways of reconciling both value creation with
because they are not recorded on the balance sheet. value extraction and of reconciling short-term and long-
Time and again, organisations say their most important term KPIs. If directors are to act as effective stewards
assets are their people. Yet they are shown on the P&L for their organisation, they must spend much more
as costs rather than assets on the balance sheets. Perhaps time on ensuring the two most important assets of the
this is why boards do not spend the corresponding organisation – people and reputation – are protected.
amount of time on what they say are their most This means taking detailed interest in defending the
important assets. If people really are the most important culture, values and “Tone at the Top” that differentiate
assets, directors must spend time not just on ensuring their organisation by overseeing succession planning
their technical competences are right for the present and and talent management to ensure only people with the
future needs, but, more important still, on ensuring the right purpose and values are recruited, developed and
people who join, share the purpose and values of their promoted. BV
organisation. After all, it is the culture of the organisation About the Author
that differentiates it from its competition. Culture is
unique and hard to copy – it is what people do when Datuk John Zinkin is the Managing director of
they are not being watched. So boards must ensure that Zinkin Ettinger Sdn Bhd and faculty member of the
those who are hired, promoted and rewarded have the ICLIF Leadership and Governance Centre,
character to reflect the values of the organisation and specialising in training Boards in ethics and
reinforce its culture. Even more important, when boards governance.
are considering merging or acquiring other companies,
they must be sure the target organisation has more than RELEVANT MINDA PROGRAMMES
just a financial or business fit. They must think carefully
about the impact on their organisation’s culture and • CDAP: Board Rewards & Recognition/Succession Planning
values. Failure to do so often leads to an inability to @ 19 Nov 2015, KL, @ 17 May 2016, KL
realise the promised synergies of the deal at best, or to a
disastrous erosion of values, as we have seen in banking
in the West.
The final asset directors must protect is reputation.
Focusing on reputation, making long-term reputation the

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19
Featured Article

Effective board &
director evaluations

By Beverly Behan

Board and director evaluations used to be mostly about compliance.
Today they’re about making good boards better while improving the
credibility of board and director performance management. Here, an

expanded recap of emerging trends and tactics.

Now that directors have had more than a decade of Boards that seek to reinforce a culture of accountability
experience with board evaluations, their objectives in the companies they govern have also begun to view
for the exercise have begun to shift. Rather than both board and director evaluations as part of this
seeking a rote compliance objective, increasingly board equation.
chairs and nominating/governance committee chairs There is also increasing pressure on boards to raise
want to use the board evaluation in a more meaningful their game in this arena—regulators, shareholder
way – an exercise designed to make a good board even activists and even management have become more
better and help a great board remain vibrant. Theirs is attuned to the issue of board and director evaluations
an objective of continuous improvement – and a very in recent years and are demanding more credible and
different type of board evaluation design is required to authentic processes for board and director performance
meet this objective.

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Featured Article

management. UK boards, for example, must now The traditional approach to
describe their board evaluation process in detail in their a board evaluation involved a
annual proxy statements. survey form where directors
I recently authored a white paper for the Conference are asked to enter a score from
Board of Canada entitled Board and Director 1 to 5 on a series of questions
Evaluations in the 21st Century, and am working on relating to the board’s
a similar publication for the Conference Board of New operations, typically with some
York. This article will highlight some of the emerging space for write-in comments
trends and offer some constructive ideas on refreshing
the board evaluation process. engaging for participants, who typically enjoy taking the
time (generally 45 to 60 minutes) to share their views
Designing an Impactful Board about the board.
Evaluation: A License to Experiment An interview format will only be effective, however, if
a protocol of interview questions is developed at the
There are no regulatory requirements for the way in outset and used consistently throughout. Otherwise,
which a board evaluation is to be conducted. That means nearly every interview might cover different issues,
any boards have complete freedom to design a process making it difficult to reach consensus on the findings.
that will best meet their objectives and the liberty to This requires discipline on the part of the interviewer,
experiment by redesigning their board evaluation who must also probe to ensure that specific, actionable
process from time to time so as to keep the exercise fresh, feedback is being generated from these discussions.
engaging and productive. In considering the design of a Topics: Eight key components of board-building
board evaluation, there are five key issues to consider: are nearly always covered or should be in a board
Format: The traditional approach to a board evaluation evaluation: board composition; board information
involved a survey form where directors are asked to enter (pre-reading materials and director orientation);
a score from 1 to 5 on a series of questions relating to the board agendas and meetings; board leadership; board
board’s operations, typically with some space for write-in dynamics; the working relationship between the board
comments. The design nearly always consists of closed- and management; and board processes (namely, how
ended questions – such as “Our board composition is the board engages on strategy, CEO succession, risk
appropriate,” or “The pre-reading materials for board oversight, CEO evaluation, etc.). An evaluation of the
meetings are adequate” – a format that readily lent itself board’s committees – the eighth component – can either
to numeric scoring. be included in part of the board evaluation or separate
If the board’s overarching objective for the evaluation is evaluations can be conducted for each committee.
simply to comply with regulatory requirements, surveys In addition to these items, many boards find value in
are the best methodology available: they’re fast, cheap including some or all of the following questions:
and easy to administer. Moreover, by limiting questions • What do you see as the board’s key strengths? What
to low-threshold tests, such as charter compliance or
whether something is “appropriate” or “adequate,” few does this board do particularly well?
issues are likely to surface. • What do you see as the board’s most important
However, if the board seeks to use its evaluation process
for continuous improvement, surveys have significant contribution in overseeing the company over the
drawbacks: closed-ended questions rarely yield insightful past year?
or actionable feedback while numeric survey results are
equally difficult to translate into meaningful steps.
Many boards that use survey-style board evaluations
supplement them with follow-up phone calls to try to
get more constructive and useful feedback – and this
can be helpful. But if ongoing board improvement is
more important than basic compliance, interviews are
nearly always a preferable format. They are also far more

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• If you could change anything about our board to A robust board evaluation often
make it more effective than it is today, what would serves as a good team-building
you change and why?
exercise for the board – all
• If we were going to add just one new director to the the more reason to find a way
board, what skills, experience or background would to engage rather than exclude a
you prioritise?
new director in the process
Input from senior management: As most chief
executive officers serve as members of their governing While this is typically a judgment call, based on the
boards, they generally participate in the board evaluation number of meetings a new recruit will have attended
process. Over the past decade, however, it has become by the time of the evaluation, some boards create a
increasingly popular to gather feedback from top limited interview protocol or questionnaire designed
company executives who are not board members but specifically for new directors. It often focuses on director
regularly attend board and committee meetings. While recruitment and orientation – areas where, of anyone on
some directors bristle at the thought of management the board, they have the most recent experience. These
“evaluating” the board, most find it illuminating to questions can be further expanded, if appropriate, to ask
include management feedback in the board evaluation. about first impressions of the board’s working dynamics,
It also demonstrates to management that the board is the board-management relationship, best practices from
open to feedback and improvement. In the past five other boards with which they are familiar, and so on.
years, interest in more robust board evaluations and A robust board evaluation often serves as a good team-
individual director evaluations has increasingly reflected building exercise for the board – all the more reason to
the board’s insistence on improved CEO and senior find a way to engage rather than exclude a new director
management performance evaluations – some of which in the process.
incorporate 360s. Boards understand the importance External facilitators: The provisions of the 2014 UK
of “walking the talk” on these issues if they are to be Corporate Governance Code, which now require board
credible themselves. evaluations of FTSE 350 companies to be externally
Whether a survey or interview format is used, the facilitated every three years, are clearly the direction
questions need to be tailored slightly for use with in which board evaluations are heading into the 21st
management if it is decided to solicit their input. While century. About 19% of the largest public U.S. companies
the “management version” should parallel the “board used an outsider for their board evaluations in 2013.
version” for comparative purposes, certain topics – such Spencer Stuart predicts that as many as 35% of major
as CEO succession planning and executive sessions – are U.S. companies will follow suit in the next five years.
often removed. Most North American boards that use an external
Decisions also need to be made as to whether and resource for their board evaluations also tend to follow the
how the results of the board evaluation will be shared UK approach of “every three years” instead of annually.
with members of management who participated in the After all, a well-executed board evaluation should yield
evaluation process. Some boards incorporate no follow- an action plan that may require 18 to 24 months to
up whatsoever; others invite those executives who implement; repeating the process a year later typically
participated to attend portions of the board meeting delivers only marginal returns. Board evaluations in the
where the evaluation results are discussed. This can be intervening years are generally conducted internally –
particularly useful where some of the issues surfaced in often using a survey format or short phone calls from
the board evaluation involve improving the pre-reading the board chair or chair of the nominating/governance
materials and/or management presentations in board committee to each director.
and committee meetings.
New directors: As most boards are regularly recruiting
new directors, the question inevitably arises as to how
long a new director should serve on the board before
participating in the board evaluation process.

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22 Using the Board Evaluation: The
Featured Article Action Plan

Chair evaluation: While a great deal of thought and discussion
a critical component to consider typically goes into the feedback collection
mechanism for the board evaluation, less
With board evaluations now the norm, companies attention is often paid to what may be an
are increasingly taking the measure of board even more important consideration: how
chairs as well to use the results of the board evaluation
constructively.
Spencer Stuart’s 2014 Canadian Board Index of the largest At least three to five potential opportunities
Canadian companies found that 100% conduct board for further board enhancement should
evaluations but only 55% conduct an evaluation of their emerge from a constructive board evaluation
board chair – a surprising statistic in view of the critical role process; boards with highly engaged and
that a chair plays in the overall effectiveness of any board thoughtful directors often generate eight
of directors. Boards that haven’t yet implemented a chair to 10. If no issues surface, this generally
evaluation would do well to incorporate at some questions means that the board evaluation was
about the chair’s effectiveness – in leading board meetings, crafted with many closed-ended questions
communicating to fellow directors outside of meetings and and failed to stimulate good thinking about
forming a constructive working relationship with the chief potential enhancements. This may not be
executive officer – into their board evaluation. problematic if the objective of the board
One of the challenges with chair evaluation involves evaluation is primarily to meet compliance
the question of who will do it. If the board conducts its objectives, but frustrating for those
individual director evaluations using an external facilitator, who seek to use the process to positively
the answer is obvious. However, if the format is a peer impact board operations. As noted earlier,
review involving interviews by the chair, this becomes interview-based board evaluations typically
more of an issue. yield rich and highly specific feedback that
British boards take an approach that has yet to catch on in readily lends itself to good discussion – and
Canada: like Canada, Britain typically separates the roles nearly always brings to the surface many
of chairman and chief executive officer; nearly all British more issues than a survey form.
boards are led by a non-executive chair. Roughly 15 years A report summarising the results of the
ago, the UK first developed the concept of appointing board evaluation should be developed at
another non-executive board member to the role of senior the conclusion of the board evaluation
independent director – in addition to the non-executive and reviewed by board leadership – the
chair. One of the key responsibilities of the senior board chair, the chair of the nominating/
independent director on UK boards is to lead an annual governance committee and the CEO;
evaluation of the chair’s performance. In Canada, the chair sometimes the general counsel and/or
of the nominating and governance committee sometimes corporate secretary are also included in this
plays this role. preliminary review.
Chair evaluation is particularly important for those boards
that seek to reinforce a corporate culture of accountability. Chair evaluation is
In organisations where the annual performance evaluation particularly important for
those boards that seek
of the chief executive and other corporate officers to reinforce a corporate
is rigorous, structured and multi-faceted culture of accountability
(such as those which incorporate 360
feedback or similar) a similarly well-
designed process for evaluating the

board and its leadership readily demonstrates
that accountability is the “tone at the top” –
the very top being the chair of the board.

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Featured Article

That group determines which issues are worthy of It is always unwise to publish the
discussion with the full board and/or the nominating/ results of the board evaluation;
governance committee and how much time should be this typically inhibits candour
allocated on the board agenda for a working session of and creates “made for TV” board
the board to discuss the evaluation results. Most boards evaluation results that fail to
require 60 to 90 minutes for good discussion with some surface important issues
time to make decisions about whether and how best to
address the issues surfaced in a way that will enhance the deliver the feedback? They need not be the same person;
board, overall. At the conclusion, an action plan should sometimes an external resource is used to conduct the
be created that the board can use as a roadmap to move interviews and summarise the feedback while the board
forward in implementing those changes over the next 12 chair delivers the feedback in a series of meetings with
to 18 months. each director. An important part of the interviewer’s job
When well designed and effectively implemented, board is to probe deeper where general responses are given so
evaluations can have a significant and positive impact as to surface tangible examples and specifics that the
on how a board functions and even on the quality of recipient can readily understand and, if appropriate, act
decisions it makes. upon. This is equally important whether the interview is
Boards that have upgraded their evaluation process conducted by an external facilitator or a board member,
would do well to describe the new approach to such as the board chair or chair of the nominating/
shareholders in their annual proxy circular. It is always governance committee.
unwise to publish the results of the board evaluation; Refreshing both board and director evaluations with
this typically inhibits candour and creates “made for TV” new approaches can help many boards derive far more
board evaluation results that fail to surface important value from these exercises while serving to reinforce
issues. However, where the board evaluation action plan their commitment to accountability and governance
has led to the adoption of a new practice, the creation excellence. BV
of a new committee, the recruitment of a new director About the author
with a specific skill set or other positive changes, this
underscores to shareholders that the board evaluation Beverly Behan has worked with more than 100
process is having real impact. Boards of Directors in the United States, Canada
and internationally for over a decade – from Fortune
Individual Director Evaluations 500s to recent IPOs. For the past three years she has
been a regular columnist (“The Boardroom”) from
The board of directors of Bank of Montreal has the Bloomberg BusinessWeek.com. She has been quoted as an expert
distinction of being the first board of a major North on board effectiveness for nearly every major business publication,
American company to implement an individual including The Wall Street Journal, the Financial Times, and
director peer evaluation in 1997. Since that time, Business 2.0 and has been named to the Directorship 100,
director evaluations have evolved both in terms of Directorship’s Magazine’s list of the 100 most influential people in
their methodologies and prevalence. (Separate chair governance and the boardroom
evaluations are also growing trend. See sidebar.) This article originally appeared in LISTED Magazine (LISTED is a
Directors typically find the most value in feedback magazine for companies trading on the TSX).
that is specific and constructive. Director evaluations
conducted using a survey with some space for write- Relevant MINDA Services:
in comments generally lack the level of specificity to
be actionable. If the primary objective of the director • Board Effectiveness Assessment (BEA)
evaluation process is simply to determine if a board • Individual Director Evaluation (IDE)
member should be renominated, this can be fine. • Directors Competency Analysis (DCA)
However, if professional development is an equally or Call us for discussion today at +603 2780 5031
more important objective, this format will probably
disappoint.
Where interviews are used to collect individual director
feedback, two questions the board must consider are:
(i) Who will conduct the interviews? and (ii) Who will

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DF9/2015 Innovation – Case Studies

Key Cases To Be Discussed At the Upcoming Directors Forum Include:

Procter & Gamble (Global looked at innovation to drive has helped to grow its revenues and
Consumer Goods) competitiveness. profits during the economic turmoil
post 2008 and provide innovative
The case study will look at how Whirlpool (Home Appliances) - services to their clients.
Procter & Gamble’s radical strategy
of open innovation now produces In late 1999, the company found Asia Pacific Retail Banking
more than 35% of the company’s itself unable to drive growth in its
innovations and billions of dollars business. The case study will look (Financial Institutions) – The case
in revenue. at how the company changes its study will look at how Innovation has
corporate culture with innovation worked out in the Asia Pacific retail
Mars Incorporated (Packaged as a core competency helped to banking industry. Maybank, CIMB,
grow the business. Alliance, OCBC, Citibank, Standard
Foods) - Among their competitors Chartered, HSBC, Unionbank,
are Cadbury, General Mills, Hershey, HCL Technologies (IT) - The Alibaba, Bank of China etc are some
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26
Featured Article

Developing the
Talent Gene Pool
By Andrew Oliver, Margaret Wright

With high-potential talent becoming a scarce resource, Andrew Olivier and
Margaret Wright discuss the board’s role in building sustainable talent.

Talent development is pushing its way up the board pool that supports planned succession. Talent is also the
agenda. The leadership “gene pool” has always been “new black” for other reasons. As technology subsumes
one of the top five contributions of an effective factory floor and back office tasks, organisations need
board, closely aligned with CEO succession. However, people who understand the business end to end, relate
it often struggles for space on the board agenda behind to others, solve difficult problems and take the initiative.
monitoring the company’s health, performance and As the rate of change accelerates, organisations need
risk, deciding CEO compensation and ensuring the leaders who add value to their people – not just track
right strategy. A Booz & Company report attributes boxes and numbers. Effective boards pay attention
both better long-term financial outcomes and longer to how their organisations find and develop talent.
CEO tenure to planned succession. Developing and retaining talent requires a combination
Organisations are taking notice and promoting insiders of effective leadership, empowering structure and
is making a comeback. Identifying and developing understanding the required capability. Leadership
internal talent is key to building the leadership gene inspires and encourages the right talent, knowing where

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Featured Article

it is needed and deploying it in empowering structures Leaders of complex organisations need the ability to
that support organisational intent. manage that complexity if they are to be successful. If
Complexity is key to defining the level of talent required. people move upwards too quickly or above their natural
The complexity the organisation must deal with drives ability, they may struggle to add real value to the efforts
the required combination of capability, leadership and of their teams. Managerial leaders need the capability to
structure. Ashby’s Law of Requisite Variety states: “As work at one level above their team (n+1). If they cannot
external complexity increases, internal complexity must cope with the requisite complexity (n-1), they cannot add
also increase if an organisation (or organism) is to handle value.
the external environment effectively.” The required This applies from bottom to top. This means the board
talent is directly linked to the organisation size and the composition must have the inherent capability (with the
complexity of its strategies and intent. appropriate mix of knowledge, skills and experience) to
Managing complexity effectively requires organisations deal effectively with the required level of organisational
to have deliberate hiring, development and promotion complexity.
strategies that ensure managers and leaders have the In a recent address to the Australian Institute of Company
innate skills required to manage the complexity associated Directors, Mike Hawker, director of Aviva and Macquarie
with their role. Scale can create unnecessary complexity. Bank, observed: “Not only do board directors need to
Unfortunately as companies grow, promotion is often have the right qualities to be a director, but they also
ad hoc. Organisations haphazardly add new roles and need to be of the right capability… I am a proponent
layers to manage unexpected scale and product or service of the concept of ‘levels of work’. If you have a board of
diversity. The same happens during a boom when new directors with less capability than its management team or
people are introduced to handle unexpected volumes the company’s business portfolio, then you have a recipe
of work. Existing staff move into management. In the for disaster. Likewise if the CEO does not have enough
process, organisations inadvertently build in bureaucracy capability, he or she is unlikely to stay very long.”
and unnecessary process complexity. This leads to So what does this mean for boards looking to ensure
inefficiencies, excess cost, frustration and stress. effective CEO succession, preferably from the inside?
Research indicates that the maximum number of And what does it mean for boards and CEOs looking
required layers is seven – necessary only for the largest to maximise the acquisition and development of talent
organisations, for example Shell, BHP Billiton and the throughout the organisation?
US Army. Most local companies require two to three, The ability to deal with complexity is innate and while it
national companies four or five and multinationals six. emerges at different rates for individuals with maturity,
Many organisations end up with more or fewer layers it is a capability that can be identified and developed.
than they need or the wrong people in management Research has shown it is possible to predict this capability
roles, resulting in micromanagement or conversely over- over time, which follows a set of non-linear mode curves.
delegation, causing lower level staff to flounder. This enables organisations to identify high-potential
Time spans, or the time required to complete the most people and plan their career paths to maximise their
complex task given by managers or agreed by the board, value. Much of this thinking comes from the work of Dr
are critical. Longer time spans require greater ability to Elliott Jaques.
deal with an uncertain future while maintaining direction Organisations using the operating model (RO or
and simultaneously responding to changes. Institutional “requisite organisation”) range from behemoths like the
investors and traditional measurement and reward systems US Army, British National Health and BHP Billiton to
add to the pressure on CEOs to deliver short-term results small not-for-profits like the Sydney-based Good Return.
to remain in the job. Thus, the board must increasingly Some have used this operating model for more than five
provide the balance and support for long-term thinking. decades. It has remained in constant usage because it
This echoes the call by fund manager Simon Marais for provides a framework for directors and executives to build
executive pay to be based on corporate performance organisational ability to deliver on their strategic intent.
over more than just one year. We have seen numerous A simple dashboard can plot role complexity, overlaying
examples of CEOs appearing effective in the very short individual capability. When people are matched to their
term, but acting to the detriment of an organisation over work challenges, they are often “inflow” and feel their
the medium or longer term. A glaring example was Al work is valued, recognised and their decision-making
Dunlap and Sunbeam.

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28
Featured Article

is intuitive. Most often causes for things not to flow • Ensures quality of leadership – provides a first-
are found in faulty structural design or leadership hand opportunity to form views on the quality of
incompetence. The practices are particularly pertinent at leadership at the skip level and possibly to mentor
board level with boards being accountable for ensuring executives.
the continuing development of the executive team,
determining its remuneration and making provision for • Tests alignment of understanding – by identifying
succession planning. Effective managerial leaders new to different perspectives across the team, including
the practices often find they may have informally adopted emerging issues/challenges not previously obvious to
similar practices unconsciously. the board.
One practice that chairmen in particular find useful is
the “manager once removed” role (colloquially known MoR also assists in reviewing performance in
as MoR or skip level reporting). This complements and close collaboration with the CEO and informs the
builds on the role of the CEO as direct manager, but gives remuneration committee.
the chairman a unique value add. This leadership role has Using the MoR process for the first time, chairman of
a whole different function to that of a line manager and South Australian aged care provider Life Care, John Stock,
applies specifically to all skip level reports. observed: “The opportunity of meeting as an MoR with
Ray Grigg, a director of South Australian motoring group our key executives was particularly meaningful for them
RAA, describes how he applies it. “As an MoR, I meet and for me… The executives relished the opportunity of
with each of the executive team…after they have had discussing directly with the chairman their perceptions of
their performance meeting with the managing director. the organisation; of their roles and perceived contribution;
I take a standard approach with each general manager, and their professional development aspirations. We were
encouraging general discussion in a relaxed and informal able to share some of the key challenges facing the board
manner. I ask them seven questions including: and the leadership of the organisation and its impact for
• Are you comfortable with the way the CEO and the them. Future MoR meetings - at all levels – will enhance
our talent management and human resource planning.”
board are leading the organisation? In conclusion, talent attraction and retention depends
• What are your aspirations – where do you see your on having an effective structure and employees who
are inflow with the complexity of their roles. The more
career heading? complex the enterprise, the greater the requirement
• How can I assist you in your professional for boards to ensure this alignment. The board’s role is
increasingly critical in ensuring an understanding of the
development? leadership gene pool, because high-potential talent is a
• General Managers say they value the opportunity to scarce resource. BV
About the author
engage with the chairman, build better relationships
with the board, operate in a more collegiate manner Andrew is a panel member for the General Monash
and gain support for the future.” Foundation and CEO of The Centre for Transition. In
MoR has no authority for performance review or setting 2013 Andrew became an ambassador for Global
work tasks. Distinct from coaching, it provides four key Ecovillages Network for Australia and New Zealand.
value adds: He has worked with these models in a number of
• Builds talent pool capability – brings a wider countries at senior levels.
perspective of the organisation in managing career Margaret is an experienced former corporate
development. Supports broad based succession executive and Board Director. She is a Director of
planning at all levels, enabling managerial leaders to Word Education Australia and Chair of their Audit
assess development priorities and capability gaps. and IT Committees. She was also on the Board of the
• Ensures fairness and objectivity – provides a forum National Breast Cancer Foundation
for board members to understand how the executive This article originally appeared in Australian Institute of Company
team perceive the CEO, chairman and board are Directors (AICD)
leading the organisation and allows for a consistent
understanding of intent, strategies and risk. RELEVANT MINDA PROGRAMMES:

• CDAP: Board Rewards & Recognition/Succession Planning
@ 19 Nov 2015, KL, @ 17 May 2016,KL

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Protect and Be Part of the Optimise Your
Increase Your Consulted Group Expertise. Avail
Directorship On Regulatory & Yourself for New

Credibility Policies Directorship
Development Opportunity

Be a Member of Malaysian Directors Institute (MDI) today.

Call us at +603 2780 5031 or drop us an email at [email protected] for further details.

30
Book Review

The Fish Rots From
The Head

By Bob Garratt

Bob Garratt’s third edition of ‘The Fish Rots from Abouth The Author
the Head: Developing Effective Board Directors’
focuses on how boards can develop the essential Bob Garratt is a consultant in corporate governance and board
skills and approach in defusing potential problems and development, which is described by the book’s publishers as
shortcomings in the area of corporate governance. a “pracademic”. He has held a number of senior academic
The Fish Rots from the Head has been widely used in positions, serving as a Chair for numerous boards.
the governance world since it was first published in 1996.
The third edition of this title was released in the wake
of global financial crisis; investigates the negligence of
corporate boards, highlighting the lack of competence and
sufficiently diverse board members through the corporate
scandals of the early 2000s – Enron, WorldCom, Tyco
and through the appalling boardroom standards.
Bob also explains his theory of the learning organisation and
learning board that involves developing an environment
in which both the board and the organisation as a whole
can learn, change and grow by adapting through changes
in external environment. Diversity of directors, well-
established skillsets and regular turnover of members is
vital to this process in order to create an environment of
equitable debate and decision-making.
The Fish Rots from the Head is suitable read for boards
in order to revitalise and reshape the board ways of
thinking by putting in place a more robust structure
and system through a framework for redeveloping the
board, maximising effectiveness in a global and long-term
manner. Bob Garratt encourages readers to reassess what
they know about corporate governance for boards.
Sir Adrian Cadbury, whose committee’s ground-breaking
report on corporate governance which was published
nearly 20 years ago mentioned that ‘No director can
afford to ignore this book’ when the first edition was
published which remains true today as ever.

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Event Highlights

2 & 3 March 2015

The International Directors Summit 2015 –
“Inculcating Innovation, Catalysing Growth
through Public-Private Partnerships”

Type: Public Programme
Venue: The Intercontinental Hotel, Kuala Lumpur

The International Directors Summit (IDS) 2015
was jointly held by the Malaysian Directors
Academy (MINDA) and the Razak School of
Government (RSOG) to address the innovation
challenges facing businesses and governments
today.

The IDS 2015 focused on inculcating innovation,
ensuring sustainable growth and amplifying
business effectiveness. This can be realised
through cutting-edge yet durable Public-Private
partnerships.

The two-day summit was officiated by the YB
Senator Dato’ Sri Abdul Wahid Omar, Minister
in the Prime Minister’s Department Malaysia at
Intercontinental Hotel, Kuala Lumpur.

IDS will be back in 2017.

23 – 24 March 2015

Directors Forum 8/2015: “Talent and Human Capital –
The Drivers of Growth and Creativity”

Type: Public Programme Next Sessions
Venue: Jakarta, Indonesia
• DF 9/2015: The Innovation Zone @ 2 & 3 Nov 2015
DF 8/2015 was held in Jakarta, Indonesia and • DF 10/2016 @ 21 & 22 March 2016
attended by a total of nineteen (19) directors • DF 11/2016 @ 31 Oct & 1 Nov 2016
from various Listed and Unlisted companies.
This programme focused on how directors can
influence:

• The C-Suites and organisations in addressing
human capital challenges;

• Cultivating the right characteristics that
develops talent and human capital to drive
corporate growth and creativity within the
board and the organisation;

• Enhance the effectiveness of the board through
consistent human capital philosophies

Over the Fireplace Chat session, a briefing on the
possible business ventures in Indonesia was shared
by Tuan Haji Halim Ashari, President Director of
BW Plantation, Jakarta, Indonesia.

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Programme Highlights

8 & 9 April 2015

Corporate Directors Onboarding Programme (CDOP) 5/2015

Type: Public Programme
Venue: The Majestic Hotel, Kuala Lumpur

MINDA’s first CDOP programme for 2015 focused
primarily on the role of the Corporate Director. CDOP
2015 provides a platform for Corporate Directors to
update their knowledge with the latest development on their
Roles and Responsibilities as a Director as well as networking
among fellow Directors.
The programme was facilitated by Datuk John Zinkin,
Managing Director of Zinkin Ettinger Sdn Bhd, Mr Azryain
Borhan, CEO of Pinnacle Perintis and Dato’ Abdul Aziz Abu
Bakar CEO of MINDA. A total number of 18 pax attended
the programme.

Next Sessions

• 25 & 26 Nov 2015, KL
• 23 & 24 Feb 2016, KL
• 25 & 26 Oct 2016, KL

9 & 10 June 2015

Corporate Directors Advanced Programme (CDAP) 5/2015 –
Financial Language in the Boardroom

Type: Public Programme
Venue: The Majestic Hotel, Kuala Lumpur

MINDA has specially designed a two-day programme entitled
Corporate Directors Advanced Programme: Financial
Language in the Boardroom with 10 CPE points approved
by Securities Industry Development Corporation (SIDC).
A total of sixteen (16) participants attended the programme
with a good mix of Chairman, Directors and CEOs of various
GLCs, MOFs and PLCs.

Next Sessions

• 12 & 13 Oct 2015, KL
• 29 & 30 March 2016, KL
• 7 & 8 Sept 2016, KL

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Programme Highlights

INSKEN Onboard SME Directors Session 1
Programme (IDP) Session 2

Type: Customised Programme Next Sessions
Session 1: 8 & 9 June 2015 - INSKEN, Mutiara Damansara
Session 2: 24 & 25 Aug 2015 - INSKEN, Mutiara Damansara • 28 & 29 Sept 2015
• 26 & 27 Oct 2015
This programme provided a platform to strengthen the • 23 & 24 Nov 2015
competitiveness of Bumiputera businesses at home and abroad via:
• An enhanced professionalism in the organisation that is on par
with international standards;
• An enriched business savviness that drive performance;
• The right mindset and leadership to be innovative and creative;
• A stronger and robust corporate governance practice;
• A wider and beneficial network through MINDA Alumni

Awareness and Networking events.
The programme was facilitated by Mr Azryain Borhan, CEO of
Pinnacle Perintis, Dato’ Aziz Abu Bakar – CEO / Executive Director of
MINDA, Ms Vijayam Nadarajah - Specialist, Corporate programme
at Finance Accreditation Agency (FAA) and Mr Azim Pawanchik-
co-founder and Principal Consultant for Alpha Catalyst Consulting
(ACC). The first session was attended by 17 directors and second
session 26 directors from various companies.

MINDA/MOF INC. Directors Session 1
Onboarding Programme Session 2
(MDOP)

Type: Customised Programme
Venue: Cyberview Resort & Spa, Cyberjaya
Session 1: 16 April 2015 -Cyberview Resort & Spa, Cyberjaya
Session 2: 25 Aug 2015 - Putrajaya Marriott Hotel & Spa

MINDA organised its initial MINDA/MOF INC. Directors
Onboarding Programme (MDOP) this year. This programme
provided a platform for MoF Inc. Corporate Directors who have
limited knowledge on the role of the Corporate Director. This one-
day programme provides a platform for MoF Inc.Corporate Directors
to update their knowledge with the latest development on their Roles
and Responsibilities as a Director as well as networking among fellow
Directors.
The programme was facilitated by Mr Azryain Borhan, CEO of
Pinnacle Perintis and Datuk John Zinkin, Managing Director of
Zinkin Ettinger Sdn Bhd. Both session was attended by 30 directors
from various MoF Inc companies.

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Programme Highlights

2 & 3 Sept 2015

Corporate Directors Advanced Programme (CDAP) 3/2015:
Strategy & Risks

Type: Public Programme
Venue: The Majestic Hotel, Kuala Lumpur

MINDA third Corporate Directors Advanced Programme:
Strategy & Risks with 10 CPE points approved by
Securities Industry Development Corporation (SIDC).
The programme was facilitated by Dr David Bobker who
has extensive experience in the areas of governance and risk
training having been the lead presenter for risk management
for Bank Negara. A total of sixteen (19) participants attended
the programme with a good mix of Chairman, Directors and
CEOs of various GLCs, MOFs and PLCs.

Next Session

• 19 & 20 April 2016, KL

MINDA POWERTALK SERIES Session 1
Session 2
Type: Awareness & Networking
Venue: Sheraton Imperial Kuala Lumpur Hotel
Session 1: 20 March 2015 - The Majestic Hotel,

Kuala Lumpur
Session 2: 16 June 2015 - Sheraton Imperial

Kuala Lumpur Hotel

MINDA PowerTalk Series (2/2015) titled “What Will
Distinguish the Great Boards of Tomorrow?” with Beverly
A. Behan, Board Advisor, LLC as the guest speaker. The
focus of the talk was what will distinguish the great boards
of tomorrow based on board practices that were considered
“leading edge” five or ten years ago are fairly “routine” is the
subject of this talk.
MINDA PowerTalk Series (3/2015) titled “Growth through
Innovation, Sustainability and Talent Development” with
Nicolas De La Giroday as the guest speaker. The focus of
the talk was how companies worldwide are often challenged
to evolve with changing global trends and consumer needs,
how do companies persevere and emerge even stronger
than competition and how to create superior value for key
stakeholders.

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Programme Highlights

7 June 2015

MINDA Charity Golf Tournament 2015

Type: Awareness and Networking
Venue: Amverton Cove Golf & Island Resort, Pulau Carey, Selangor

MINDA’s Charity Golf Tournament 2015 was organised
recently to commemorate its eight anniversary. The 18-hole
championship consisted of nearly 60 golfers ranging from
the Board of Directors of GLCs & PLCs and MINDA’s alumni
to other relevant stakeholders & partners. A percentage of the
collected fees was donated to Rumah Amal Anak Yatim Raja Nur
Sa’adah & Rumah Anak Yatim dan Asnaf As-Solihin. Selected kids
from the charity organisations will also be given the opportunity
to learn how to play golf and have fun at the facilities offered
by Amverton Cove. Ybhg Dato’ Ahmad Pardas Senin, MINDA
Chairman attended the Charity Lunch and gave away the mock
cheques to both Charity Organisations.
The generous sponsors for the tournament included:

English version

Malay version

COLOR Spot RGB
Process PMS 2756 R26 G32 B109

C 100 Y90 K 30

Colour guideline

C: 100% R: 0 H: 207’ #0055A2 Pantone Code: 286C
M: 70% G: 85 S: 100%
Y: 0% B: 162 B: 63%
K: 5%

7 June 2015

MINDA Rumah Terbuka Aidilfitri 2015

Date: 6 August 2015
Venue: Malaysian Directors Academy (MINDA) Office,

Kuala Lumpur

MINDA organised its Majlis Rumah Terbuka Hari Raya and
invited over a total number of two hundred (200) guests from
various organisations from the GLCs, MOF Inc. and PLCs
companies.
This special occasion gives us a great opportunity to get-together
to celebrate Hari Raya and at the same time allow us to show our
appreciation to MINDA alumni, for their constant support given
to MINDA. The open house was attended by more than 130
invited guests.

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3rd Party Events

Visit to Indonesian Institute for Corporate Director (IICD)
and Australian Institute of Company Directors (AICD)

IICD - 25 June 2015, Jakarta Indonesia IICD
AICD - 30 July 2015, Sydney Australia

Afollow-up visit to the Indonesian Institute for Corporate
Director (IICD) to work together to GROW FAST to foster the
implementation of Good Governance between Indonesia and
Malaysia. We discuss more on professional education for directors and
commissioners; research on corporate governance, directorship, and
performance; as well as advocacy in education and research.

AICD

A study visit to the Australian Institute of Company Directors (AICD)
to learn about their success and growth as a centre of excellence for
directors not just locally but across the region too. We had the pleasure
in meeting with the whole New South Wales team who shared their
experiences, challenges, key success factor and tips in running and
maintaining the standard of AICD.

GLC 2015 Open Day

Date: 7-9 August 2015
Venue: Kuala Lumpur Convention Centre

The GLC Open Day 2015, celebrates the ‘graduation’ of
Government-Linked Companies (GLCs) and Government-
Link Investment Companies (GLICs) from the 10-year GLC
Transformation (GLCT) Programme.
The Malaysian Directors Academy (MINDA), whose establishment
in 2006 following the launch of the GLCT, has participated in
this memorable event in support of the GLC Open Day 2015.
During the event, MINDA showcased its company profile &
performance throughout its 10 years of growth in nurturing and
equipping Directors of GLCs & GLICs with the knowledge, skills
& mindset in facing the ever-increasing pressure of globalisation
& liberalisation. MINDA has also highlighted the 30% Club in
support of Board Diversity in Malaysia. The Malaysian Chapter of
the 30% Club, which was recently launched by Datuk Seri Najib
Tun Razak on May 8, 2015, aims to increase the percentage of
women on companies’ board to 30% by the year 2016.
With the completion of its 10-year journey this year, MINDA
will expand its role beyond directors training to include the
setup of Malaysian Directors Institute (MDI) as a sounding
board for Directors and provide holistic directors development
& assessment. Not only that, MINDA will also develop the
Malaysian Directors Portal (MDP) to assist board placement. This
initiative is done under the mandate of the Securities Commission
Malaysia and Bursa Malaysia.

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High Performance Company Session with Teraju

Date: 13 August 2015
Venue: The Royale Chulan Damansara Hotel, Selangor

Unit Peneraju Agenda Bumiputera (TERAJU) organised its
initial High Performance Company Session attended by 78
High Performance Program Bumiputera Companies (core).
During the event , YB Dato' Sri Mustapa Mohamed also shared
views on the export market and the impact of the 11th Plan
would benefit the development of Bumiputera entrepreneurs
and followed by a question and answer session with the invited
panellist.
MINDA’s CEO, Dato’ Abdul Aziz Abu Bakar was invited to
present “Directors: The Good, The Bad & The Ugly” under
the theme Building INSKEN Capacity to promote INSKEN
Onboard SME Directors Programme (IDP). The programme
targets high-potential Bumiputera companies to thrive in the
next five to ten years. The company's goal is to not only expand
beyond the local market but also to global market levels. The
overall goal is to enable the company to contribute significantly
to the Core GDP by 2020.

MINDA PUBLIC PROGRAMME CALENDAR 2016

Public Programmes Duration Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

TIER 1 PREMIER PROGRAMMES 3-Day 11-13 31 1
BHPD 2-Day 21-22
DF 3 -Da y 15-17
23-24
MAIDP 2 -Da y 29-30 25-26
2 -Da y 24 7-8
TIER 2 CUSTOMISED PROGRAMMES 19-20
CDOP 27-28
CDAP: Finance 17

CDAP: Cybersecurity 1 -Da y
CDAP: Strategy & Risks 2 -Da y
2-Day
CDAP: Mergers & Acquisitions
CDAP: Board Rewards & 1-Day
Recognition/Succession Planning

CDAP: Innovation 2 -Da y 20-21
CDAP: Sustainability 1 -Da y
6
TIER 3 AWARENESS & 1.5 Hours 28
NETWORKING PROGRAMMES 1 Hour
PowerTalk Series 1 Day
Company Secretary Brie ng

Raya Open House

Legend CDAP: Corporate Directors Advanced Programme
BHPD: Building High Performance Directors CDOP: Corporate Directors Onboarding Programme
MAIDP: MINDA-AICD International Directors Programme
DF: Directors Forum

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Premier Alumni List

BHPD 1/2007 19. Laksamana (B) Tan Sri Dato’ Sri Mohd 38. Tan Sri Bashir Ahmad bin Abdul Majid
1. Datuk Dr. Syed Muhamad bin Syed Anwar Hj Mohd Nor Malaysia Airport Holdings Berhad
39. Jamilah Dato’ Hashim
Abdul Kadir Lembaga Tabung Angkatan Tentera Khazanah Nasional Berhad
Bumiputra-Commerce Holdings Berhad 20. Mohd Ali Dewal 40. Dr. Kamarulzaman Mohamed Zin
2. Dato’ Dr. Mohamad Hashim Ahmad Lippo Bank Tbk Khazanah Nasional Berhad
21. Tan Sri Datuk Dr Aris Othman 41. Tan Sri Datuk Mohamed Khatib bin
Tajudin Malaysia Airport Holdings Berhad
Chemical Company of Malaysia Berhad 22. Tan Sri Abdul Halim Ali Abdul Hamid
3. Datuk Bazlan bin Osman Malaysia Building Society Berhad Pantai Holdings Berhad
Telekom Malaysia Berhad 23. Tan Sri Azlan Mohd Zainol 42. Datuk Mohamed Zain bin Mohamed
4. Lau Tiang Hua Malaysia Resources Corporation Berhad
Malaysia Building Society Berhad 24. Tan Sri Datuk Khatib Abdul Hamid Yusof
5. Dato’ Abdul Rahman Abdul Ghani Pantai Holdings Berhad Faber Group Berhad
Malaysian Airline System Berhad 25. Tan Sri Ahmad Sarji Abdul Hamid 43. Mohd Nadziruddin Mohd Basri
6. Tuan Haji Abdul Jabbar bin Abdul Permodalan Nasional Berhad Khazanah Nasional Berhad
26. Dato’Mohammed Azlan Hashim 44. Dr. Ir. Muhamad Fuad bin Abdullah
Majid Proton Holdings Berhad Island & Peninsular Bhd
Proton Holdings Berhad 27. Tan Sri Dato’ Ir Muhammad Radzi Hj 45. Dato’ Rosli Sharif
7. Dato’ Lim Kheng Guan Faber Group Berhad
Telekom Malaysia Berhad Mansor 46. Dato’ Syed Saleh Syed Abdul Rahman
8. Dato’ Fuad bin Jaafar Telekom Malaysia Berhad Lembaga Tabung Haji
Tenaga Nasional Berhad 28. Tan Sri Leo Moggie 47. Dato’ Zainal Azwar bin Zainal
9. Dato’ Anwarrudin Ahamad Osman Tenaga Nasional Berhad
UEM Builders Berhad 29. Dato’ Ir Abdul Rahim Abu Bakar Aminuddin
10. Tuan Haji Abdul Kadir Md Kassim UEM Builders Berhad TH Plantation Berhad
UEM World Berhad 30. Tan Sri Dr Ahmad Tajuddin Ali 48. Datuk Zainal Abidin Alias
11. Andrew Lo Kian Nyan UEM Group Berhad Faber Group Berhad
Employees Provident Fund 31. Raja Tan Sri Arshad Raja Tun Uda CF 2/2008
12. Dr. Roslan A. Ghaffar Asia Capital Reinsurance Malaysia Sdn 49. Dato’ Ir. Abdul Rahim Bakar
Malaysian Resources Corporation Berhad OPUS Group Berhad
13. Tuan Haji Mohd Yusof Hussian Bhd 50. Abdullah Abdul Hamid
Bumiputra-Commerce Holdings Berhad 32. Tan Poh Keat Malaysian Directors Academy (MINDA)
14. Tuan Haji Khairuddin Ahmad Telekom Research & Development Sdn 51. Dato’ Ahmad Pardas Senin
RHB Bank Berhad Malaysian Directors Academy (MINDA)
15. Ismael Fariz Ali Bhd 52. Dato’ Anwar bin Haji @ Aji
Khazanah Nasional Berhad BHPD 2/2008 Faber Group Berhad
CF 1/2007 33. Datuk Abdullah Hj Kuntom 53. Tan Sri Dato’ Seri Haidar bin
16. Tan Sri Samsudin Osman Malaysia Building Society Berhad
BIMB Holdings Berhad 34. Tuan Haji Ir. Abdullah Yusof Mohamed Nor
17. Tan Sri Dato’ Seri Haidar Mohamed Cement Industries of Malaysia CIMB Bank Berhad
35. Abu Bakar Ibrahim 54. Datuk Mohamed Arif Nun
Noor Khazanah Nasional Berhad Silterra Malaysia Sdn Bhd
CIMB Bank Berhad 36. Anuar bin Mohd Hassan 55. Tan Sri Dato’ Lau Yin Pin
18. Tan Sri Dato’ Hj Mohd Zuki Hj Malaysian Reinsurance Berhad Tenaga Nasional Berhad
37. Dato’ Dr. Aziuddin Ahmad 56. Tan Sri Dato’ Lodin Wok Kamaruddin
Kamaluddin ValueCap Sdn Bhd Boustead Holdings Berhad
Island & Peninsular Berhad

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Alumni List

57. Dato’ Dr. Mohamad Hashim bin 76. Dato’ Mohammed Azlan Hashim 95. Dato’ Othman Jusoh
Ahmad Tajudin Employee Provident Fund (EPF) TH Technologies Sdn Bhd

Chemical Company of Malaysia Berhad 77. Prof. Datuk Dr. Syed Othman Alhabshi BHPD 4/2011
58. Tan Sri Mohamed Azman Yahya Etiqa Takaful Berhad 96. Tan Sri Abdul Halim Ali
Pharmaniaga Bhd 78. Dato’ Ikmal Hijaz Hashim Malaysian Building Society Berhad
59. Tan Sri Datuk Mohamed Khatib bin Faber Group Berhad 97. Abdul Rahim Bin Abdul Hamid
79. Mohd Izani Ashari Proton Holdings Berhad
Abdul Hamid Khazanah Nasional Berhad 98. Tan Sri Abi Musa Asa’ari
Pantai Holdings Berhad 80. Hisham Zainal Mokhtar Lembaga Tabung Haji
60. Tan Sri Dato’ Sheriff Mohd Kassim Khazanah Nasional Berhad 99. Dr Achmad Riawan Amin
PLUS Expressway Berhad 81. Loh Wai Yee CIMB Islamic Bank Berhad
61. Dato’ Mohd Shukri Hussin Khazanah Nasional Berhad 100. Behara Venkata Rama Subbu
Bumiputra-Commerce Holdings Berhad 82. Stephanie Saw Ai Lin Proton Holdings Berhad
62. Tan Sri Dato’ Dr. Muhammad Rais Khazanah Nasional Berhad 101. Datuk Francis Tan Leh Kiah
83. Dato’ Ir. Abdul Rahim Abu Bakar Securities Commission Malaysia
Abdul Karim Telekom Malaysia Berhad 102. Tan Sri Ghazzali Sheikh Abdul Khalid
Malaysian Directors Academy (MINDA) 84. Dato’ Abdul Manaf bin Hashim Axiata Group Berhad
63. Oh Kim Sun Tenaga Nasional Berhad 103. Datuk Johar Bin Che Mat
Pharmaniaga Bhd 85. Shahnaz Al-Sadat Abdul Mohsein Proton Holdings Berhad
DF 1/2009 UEM Group Berhad 104. Michael Jude Fernandes
64. Arlida Ariff 86. Tuan Haji Abdul Kadir Bin Md. Kassim Pantai Holdings Berhad
Iskandar Investment Berhad UEM Land Holdings Berhad 105. Mohamed Nor Bin Abdul Hamid
65. Adlan Ahmad CF 3/2010 Etiqa Takaful Berhad
Iskandar Waterfront Sdn Bhd 87. Tuan Haji Abdul Kadir Bin Md. Kassim 106. Dato’ Sri Mohd Nadzmi Bin Mohd
66. Shahnaz Al-Sadat binti Abdul Mohsein Cement Industry of Malaysia
UEM Group Berhad 88. Datuk Dr. Syed Muhamad bin Syed Salleh
67. Tuan Haji Hassan Jaa’far Proton Holdings Berhad
PLUS Expressway Berhad Abdul Kadir 107. Tan Sri Rainer Althoff
68. Dato’ Noorizah binti Hj. Abd Hamid CIMB Islamic Berhad Proton Holdings Berhad
PLUS Expressway Berhad
69. Tan Sri K. Ravindran 89. Dato’ Ikmal Hijaz Hashim 108. Tuan Haji Zakaria Bin Ismail
PLUS Expressway Berhad Faber Group Berhad Syarikat Takaful Malaysia Berhad
70. Tan Sri Abdul Halim Ali
Malaysia Building Society Berhad 90. Tan Sri Dato’ Dr. Muhammad Rais 109. Yew Wan Kup
71. Mohd Izani Ashari Abdul Karim CIMB Group Holdings Berhad
Khazanah Nasional Berhad DF 2/2011
72. Michael Jude Fernandez Malaysian Directors Academy (MINDA) 110. Datuk Abdul Malek Bin Abdul Aziz
Khazanah Nasional Berhad 91. Laksamana Tan Sri Dato’ Seri Ilyas Hj NCB Holdings Berhad
73. Hiroyuki Kudo 111. Tuan Haji Abdul Kadir Bin Md Kassim
CIMB Group Berhad Din (Bersara) UEM Land Holdings Berhad
BHPD 3/2010 Perbadanan Hal Ehwal Bekas Angkatan 112. Abdul Rahim Bin Abdul Hamid
74. Encik Johan bin Abdullah Proton Holdings Berhad
BIMB Holdings Berhad Tentera 113. Ahmad Tajuddin Carrim
75. Dato’ Kalsom binti Abdul Rahman 92. Fazlur Rahman Ebrahim Proton Holdings Berhad
Chemical Company of Malaysia Bhd Securities Commision 114. Cindy Tan Ler Chin
93. Mahbob bin Abdullah Malaysia Building Society Berhad
TH Plantations Berhad
94. Datuk Azizan Abdul Rahman
TH Properties Sdn Bhd

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Alumni List

115. David Lau Nai Pek 134. Tan Sri Samsudin Osman 153. Dato’ Ahmad Zaini Othman
Axiata Group Berhad Employee Provident Fund Malaysia Building Society Berhad
116. Dato’ Gumuri Hussain 135. Dato’ Sulaiman Mohd Yusof 154. Azman Bin Hj. Tambi Chik
Securities Commission Malaysia Syarikat Takaful Malaysia Berhad Rangkaian Hotel Seri Malaysia Sdn Bhd
117. Tuan Haji Hassan Jaafar 136. Datuk Zainal Abidin Alias 155. Dato’ Hashmuddin Bin Mohd
PLUS Expressway Berhad Faber Group Berhad Jambatan Kedua Sdn Bhd
118. Ibrahim bin Awang 137. Zaiviji Ismail bin Abdullah 156. Dato’ Seri Ismail Shahudin
Permodalan Nasional Berhad UEM Group Berhad Opus Group Berhad
119. Dato’ Kalsom Abd Rahman DF 3/2012 157. Dato’ Md. Agil Bin Mohd Natt
MISC Berhad 138. Tuan Haji Abdul Kadir bin Md Kassim EXIM Bank Malaysia Berhad
120. Mahadzir Bin Azizan UEM Group Berhad 158. Mohamad Azmi Bin Ali
Syarikat Takaful Malaysia Berhad 139. Dato’ Ir Abdul Rahim Abu Bakar Jambatan Kedua Sdn Bhd
121. Datuk Mohaiyani binti Shamsudin Telekom Malaysia Berhad 159. Dato’ Mohamed Hassan Md Kamil
Malayan Banking Berhad 140. Dato’ Ahmad Ibnihajar Syarikat Takaful Malaysia Berhad
122. Dato’ Mohamed Hassan Md Kamil Malaysian Resources Corporation Berhad 160. Datuk Mohamed Zain Mohamed Yusuf
Syarikat Takaful Malaysia Berhad 141. Datuk Azzat bin Kamaludin Faber Group Berhad
123. Tan Sri Dato’ Dr Muhammad Rais Bin Axiata Group Berhad 161. Tuan Haji Mohd Radzi Hussein
142. Ibrahim Marsidi Pengurusan Aset Air Bhd
Abdul Karim Telekom Malaysia Berhad 162. Dato Norazman Abd Aziz
Malaysian Directors Academy (MINDA) 143. Kenneth Shen UEM Group Berhad
124. Osman bin Ismail Axiata Group Berhad 163. Tan Sri Dato’ Ir. Haji Omar Bin
Permodalan Nasional Berhad 144. Loh Lee Soon
125. Richard George Azlan Abas Maybank Asset Management Sdn Bhd Ibrahim
Theta Edge Berhad 145. Tan Sri Dato’ Mohd Sheriff Mohd UEM Builders Berhad
126. Ronnie Kok Lai Huat 164. Dato’ Rosely Bin Samsuri
TIME dotCom Berhad Kassim Perbadanan Nasional Berhad
127. Tan Sri Datuk Dr. Rafiah Salim PLUS Malaysia Berhad 165. Dato’ Rosman Bin Abdullah
NAM Institute for the Empowerment of 146. Puasa Osman Kumpulan FIMA Berhad
Faber Group Berhad 166. Shahnaz Al Sadat
Women (NIEW) 147. Tuan Haji Zakaria bin Ismail Malaysian Directors Academy (MINDA)
128. Dato’ Sulaiman Mohd Yusof Syarikat Takaful Malaysia Berhad 167. Dato’ Sulaiman Mohd Yusof
Syarikat Takaful Malaysia Berhad DF 4/2013 Syarikat Takaful Malaysia Berhad
129. Maj Gen Dato’ Zulkiflee bin Mazlan 148. Tan Sri Abdul Halim Ali 168. Tuan Syed Kamarulzaman Bin Dato’
Perbadanan Hal Ehwal Bekas Angkatan Malaysia Building Society Berhad
149. Prof. Ir. Dr. Hj Abdul Rahman Bin Syed Zainol Khodki Shahabudin
Tentera Perbadanan Nasional Berhad (PNS)
BHPD 5/2012 Omar 169. Wan Abdul Aziz Ariffin
130. Tan Sri Dato’ Sri Azizan Ariffin UiTM Hospitality Management Services Khazanah Nasional Berhad
BHIC Aero Services Sdn Bhd 170. Dato’ Wan Mohd Fadzmi Wan Othman
131. Amrish Hari Narayanan Sdn Bhd AGRO Bank
EMRAIL Sdn Bhd 150. Ahmad Norhisham Hassan 171. Zainal Abidin Jalil
132. Tan Sri Dato’ Hari Narayanan A/L Jambatan Kedua Sdn Bhd Malakoff Corporation Berhad
151. Datuk Wira Ahmad Rusli Joharie 172. Dato’ Zohari Bin Akob
Govindasamy Pengurusan Aset Air Berhad Jambatan Kedua Sdn Bhd
Tenaga Nasional Berhad 152. Tan Sri Dr. Ahmad Tajuddin Ali
133. Datuk Mohamed Zain Mohamed Yusuf UEM Group Berhad
Faber Group Berhad

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Alumni List

173. Encik Zaiviji Bin Abdullah 192. Datuk Razali bin Che Mat 211. Puan Azlina Juliani Binti Abd Jalil
UEM Group Berhad Perbadanan Kemajuan Negeri Selangor Perbadanan Nasional Berhad (PNS)
BHPD 6/2013 212. YBhg Datuk Idris Bin Hashim
174. Abdul Rahim Abdul Hamid (PKNS) Perbadanan Nasional Berhad (PNS)
Malaysia Debt Ventures Berhad 193. Zainal Abidin Jalil 213. YBhg Dato’ Mohd Arif Bin Ab.
175. Prof. Ir. Dr. Hj Abdul Rahman Bin Malakoff Corporation Berhad
194. Dato’ Zuraidah Atan Rahman
Omar Bank Rakyat Perbadanan Nasional Berhad (PNS)
UiTM Hospitality Management Services DF 5/2013 214. Tan Sri Datuk Amar (Dr.) Hamid Bin
195. Puan Rashidah Mohd Sies
Sdn Bhd Agro Bank Bugo
176. Datuk Ir. Abdullah Sani bin Abd Karim 196. Dr. Saimy Bin Ismail Sapurakencana Petroleum Berhad
Faber Group Berhad Faber Group Berhad 215. Encik Ishak Bin Ismail
177. Dato’ Adzmy bin Abdullah 197. Encik Azizi Meor Ngah SME Bank
SME Bank Halal Industry Development Corporation 216. Tuan Haji Ishak Bin Hashim
178. Elakumari Kantilal 198. YM Tengku Dato’ Seri Hasmuddin SME Bank (CEDAR)
Faber Group Berhad 217. Mr. Abdulla Faiz
179. Datuk Johar Che Mat Tengku Othman State Trading Organization PLC
Agro Bank Institut Jantung Negara Sdn Bhd 218. Dato’ Sri Azemi Bin Kasim
180. Lim Tau Kien 199. Dato’ Farizan Darus Technology Park Malaysia
UEM Group Berhad Jambatan Kedua Sdn Bhd 219. Encik Hazrul Anuar Bin Abdull
181. Mahadzir Azizan 200. Dato’ Hashmuddin Bin Mohd
Syarikat Takaful Malaysia Berhad Jambatan Kedua Sdn Bhd Hamid
182. Tan Sri Datu Dr. Mohamad Taha Arif 201. Encik Mohamad Azmi B Ali UiTM Hospitality Management Services
IJN Sdn Bhd Jambatan Kedua Sdn Bhd
183. Dato’ Mohd Salleh Mahmud 202. Major (R) Ir. Mohd Ashari Alias Sdn Bhd
IJN Sdn Bhd Jambatan Kedua Sdn Bhd DF 6/2014
184. Tan Sri Dato’ Dr Muhammad Rais bin 203. Tan Sri Dr. Sulaiman Mahbob 220. Prof Datuk Dr. Abdul Rahman Idris
Jambatan Kedua Sdn Bhd Institut Terjemahan Buku Malaysia
Abdul Karim 204. Dato’ Zohari Bin Akob
Malaysian Directors Academy (MINDA) Jambatan Kedua Sdn Bhd (ITBM)
185. Datuk Mustafha Abd Razak 205. Encik Hazim Jamaluddin 221. Mr. Ashvin Valiram
Bank Rakyat Ministry of Finance 1Malaysia Development Berhad
186. Dato’ Nasarudin bin Hashim 206. Ms. Ravinder Kaur a/p Mahan 222. Dato’ Sri Haji Azemi Bin Kasim
Perak Corporation Berhad Pembinaan BLT Sdn Bhd (PBLT)
187. Nik Rizal Kamil Bin Tan Sri Dato’ Nik Singh 223. Encik Ghazali Haji Darman
Malaysia Building Society Bhd Bursa Malaysia Berhad
Ibrahim Kamil 207. Puan Hawariah Bt Idris 224. Dato’ Gumuri Bin Hussain
Telekom Malaysia Berhad Multimedia Development Corporation KUB Agro Holdings Sdn Bhd
188. Datin Paduka Norazlina binti Zakaria 225. Dato’ Ikmal Hijaz Hashim
Perbadanan Kemajuan Negeri Selangor Sdn Bhd (MDEC) Faber Group Berhad
208. Lt. Jen. (R) Datuk Abdul Aziz Bin 226. Encik Ismail Bin Mahbob
(PKNS) Export-Import Bank of Malaysia Bhd
189. Norazni Binti Mohd Isa Hassan
Tenaga Nasional Berhad NCB Holdings Bhd (Exim Bank)
190. Tan Sri Dato’ Ir. Hj. Omar Bin Ibrahim 209. Dato Abdul Malek Bin Abdul Aziz 227. Dr. Khalid Abdul Hamid
UEM Group Berhad NCB Holdings Bhd Jambatan Kedua Sdn Bhd
191. Rahim Yunus 210. Dato Zuraidah Binti Atan 228. Datuk Dr. Marzuki Mohamad
Bank Rakyat NCB Holdings Bhd Institut Terjemahan Buku Malaysia

(ITBM)

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Alumni List

229. Dato’ Mazri Muhammad 246. Tuan Haji Abdul Wahab Abu Bakar 266. Dato’ Ir. Haji Annies Bin Md Ariff
Institut Terjemahan Buku Malaysia Pembangunan Sumber Manusia Bhd Jambatan Kedua Sdn Bhd
247. Dato’ Agil Natt 267. Tuan Hj Rosli Bin Abdullah
(ITBM) Exim Bank Malaysia Airports Holdings Berhad
230. Encik Nik Mohd Nasir Nik 248. Datuk Idris Bin Hashim
Perbadanan Nasional Berhad (MAHB)
Rithauddeen 249. Dato’ Ismail Bin Md Salleh 268. Dato’ Siti Zauyah Binti Md Desa
Bank Rakyat Jambatan Kedua Sdn Bhd Malaysia Airports Holdings Berhad
231. Encik Nik Najib Bin Husain 250. Mr. Jeremy Bin Nasrulhaq
Export-Import Bank of Malaysia Bhd Malaysia Airports Holdings Berhad (MAHB)
251. Mr. John Chacko 269. Datuk Zalekha Hassan
(Exim Bank) Leaped Services Sdn Bhd Malaysia Airports Holdings Berhad
232. Dato’ Rosli Bin Mohamed Nor 252. Encik Mohamad Azmi Bin Ali
Export-Import Bank of Malaysia Bhd Jambatan Kedua Sdn Bhd (MAHB)
253. Major (R ) Ir. Mohd Ashari Alias 270. Dato’ Jasmy Bin Ismail
(Exim Bank) Jambatan Kedua Sdn Bhd Malaysia Building Society Berhad
233. Tan Sri Dato’ Sri Sabbaruddin Chik 254. Encik Mohd Jafar B. Abd Majid
Bank Rakyat Pembangunan Sumber Manusia Bhd (MBSB)
234. Dr. Suraya Sulaiman 255. Encik Mohd Zahrain Bin Mohd Nor 271. Mr. Philip Tan Puay Koon
Alpha Catalyst Consulting Cyberview Sdn Bhd Malaysian Electronic Clearing
235. Dr. Zainal Abideen Bin Salleh 256. Dato’ Haji Romli B. Hassan
KUB Agro Holdings Sdn Bhd Pembangunan Sumber Manusia Bhd Corporation Sdn Bhd (MyClear)
BHPD 7/2014 257. Dr. Saimy Ismail 272. Datuk Dr. Abd Shukor Abd Rahman
236. Prof. Ir. Dr. Haji Abdul Rahman Omar Faber Group Berhad Malaysian Kuwaiti Investment Co. Sdn
UiTM Hospitality Management Services 258. Lieutenant General Dato’ Seri Panglima
Bhd
Sdn Bhd(Intekma Resort & Convention Dr. Sulaiman Abdullah 273. Mr. Abdullah Al-Sayer
Centre) Pharmaniaga Berhad Malaysian Kuwaiti Investment Co. Sdn
237. Dato’ Sri Haji Azemi Kasim 259. Dato’ Syed Kamarulzaman Bin Dato’
Technology Park Malaysia Corporation Bhd
Sdn Bhd Syed Zainol Khodki Shahabudin 274. Mr. Faisal Al-Musallam
238. Dato’ Sri Dr. Halim Shafie Perbadanan Nasional Berhad Malaysian Kuwaiti Investment Co. Sdn
Telekom Malaysia Berhad 260. Datuk Wan Shihab Wan Ismail
239. Dato’ Ir. Dr. Ismail Mohamed Taib Prime Minister’s Office (PMO) Bhd
Jambatan Kedua Sdn Bhd 261. Ms. Pauline Yeo Puai Eng 275. Mr. Krishna Kumar
240. Tn. Hj. Mohd Radzi Hussein Iskandar Malaysia Studios Sdn Bhd Malaysian Kuwaiti Investment Co. Sdn
Pengurusan Aset Air Berhad 262. Encik Zalman Bin Ismail
241. Tan Sri Dato’ Mohd Sheriff Mohd Jambatan Kedua Sdn Bhd Bhd
Kassim 263. Tan Sri Dr. Zulkefli Bin A. Hassan 276. Ms. Nour Al-Bader
Plus Malaysia Berhad Percetakan Nasional Malaysia Berhad Malaysian Kuwaiti Investment Co. Sdn
242. Ms. Nguyen My Lan DF 8/2015
GE in Vietnam & Cambodia 264. Datuk Noriyah Bt Ahmad Bhd
243. Mr. Philip Tan Puay Koon Ekuiti Nasional Berhad (Ekuinas) 277. Dr. Yacob Mustafa
MIDF Amanah Investment Bank 265. Dato’ Hj. Kamil Khalid Ariff Malaysian Kuwaiti Investment Co. Sdn
244. Datin Sofiah Mohd Salim Indah Water Konsortium Sdn Bhd
JBB Consultant Sdn Bhd Bhd
DF 7/2014 278. Mr. Michael Azmi-Loe
245. Prof Datuk Dr. Abdul Rahman Idris Mazmi Associates Sdn Bhd
Institut Terjemahan Buku Malaysia 279. Datin Mary Sa’diah Binti Zainuddin
(ITBM) Naim Holdings Berhad
280. Datuk Abdul Malek Bin Abdul Aziz
NCB Holdings Berhad
281. Dato’ Mohd Salleh Mahmud
Prokhas Sdn Bhd
282. Dato’ Fauziah Yaacob
Telekom Malaysia Berhad

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Allianz Malaysia Berhad Jambatan Kedua Sdn Bhd Petra Jaya Properties Sdn Bhd
Alpha Catalyst Consulting JBB Consultant Sdn Bhd Petronas
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BHIC Aero Services Sdn Bhd KPJ Seremban Specialist Hospital Rangkaian Hotel Seri Malaysia Sdn Bhd
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Bhd Linshanhao Plywood (Sarawak) Sdn Bhd Sapurakencana Petroleum Berhad
Cement Industry Malaysia Berhad Malakoff Corporation Berhad Sarawak Hidro Sdn Bhd
CG Board Asia Malaysia Airlines Securities Commision Malaysia
Chemical Company of Malaysia Berhad Malaysia Airports Holdings Berhad Sepang International Circuit
CIMB Bank Berhad Malaysia Building Society Berhad Shin Yang Shipyard Sdn Bhd
CIMB Holdings Berhad Malaysia Debt Ventures Berhad Silterra Malaysia Sdn Bhd
CIMB Islamic Berhad Malaysia Venture Capital Management Berhad Sime Darby Berhad
Cliq Energy Berhad Malaysian Electronic Clearing Corporation Sdn SIRIM Berhad
Composite Technology Resources Malaysia Sdn Bhd (MyClear) SME Bank
Bhd Malaysian Kuwaiti Investment Co. Sdn Bhd State Trading Organization PLC
Continental Tyre PJ Malaysia Sdn Bhd Malaysian Mosaics Berhad Syarikat Perumahan Negara Berhad
Credience Malaysia Sdn Bhd Malaysian Resources Corporation Berhad Syarikat Prasarana Negara Berhad
Destination Resorts & Hotels Sdn Bhd Malaysia-Thailand Joint Authority Syarikat Takaful Malaysia Berhad
Dijaya Corporation Berhad Maybank Asset Management Sdn Bhd Tan Chong Motors Sdn Bhd
Ekuiti Nasional Berhad (Ekuinas) Maybank Group Berhad Taylor’s University Sdn Bhd
Employees Provident Fund Mazmi Associates Sdn Bhd Technology Park Malaysia Corporation Sdn
EMRAIL Sdn Bhd Menara Optometry Centre Sdn Bhd Bhd
Encorp Berhad MIDF Amanah Investment Bank Telekom Malaysia Berhad
EP Manufacturing Bhd MIMOS Berhad Tenaga Nasional Berhad
Etiqa Takaful Berhad Ministry of Finance TH Plantations Berhad
EXIM Bank Ministry of Transport TH Properties Sdn Bhd
Faber Group Berhad Ministry of Women, Family and Community TH Technologies Sdn Bhd
Felcra Berhad Development Theta Edge Berhad
Gas Malaysia Berhad MNRB Holdings Berhad TPM College Sdn Bhd
GE in Vietnam&Cambodia Multimedia Development Corporation Sdn UDA Holdings Berhad
Genting Plantations Berhad Bhd UEM Builders Berhad
Global Facilities Management Sdn Bhd Naim Holdings Berhad UEM Group Berhad
Halal Industry Development Corporation NCB Holdings Bhd UEM Sunrise Berhad
IHH Helathcare Berhad Opus Group Berhad UiTM Hospitality Management Services Sdn
IJN Holdings Sdn Bhd Pakatan Reka Arkitek Sdn Bhd Bhd
IK Chin Travel Service (K) Sdn Bhd Pejabat Menteri Besar Johor UMW Oil & Gas Corporation Berhad
Indah Water Konsortium Sdn Bhd Pejabat Timbalan Setiausaha Kerajaan Negeri Unit Perancang Ekonomi Negeri Johor
Inno Bio Ventures Sdn. Bhd. Sabah Valuecap Sdn Bhd
Institut Terjemahan Buku Malaysia (ITBM) Pembinaan BLT Sdn Bhd (PBLT) WTK Holdings Berhad
Iskandar Investment Berhad Penang Port Sdn Bhd WZR Property Sdn Bhd
Iskandar Malaysia Studios Sdn Bhd Pengurusan Aset Air Berhad Yayasan Raja Muda Selangor
Iskandar Regional Development Authority Perak Corporation Berhad Yayasan Sabah Group
(IRDA) Perbadanan Hal Ehwal Bekas Angkatan Tentera