SATANG - General Announcement
Announcement Type: General Announcement
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 03/11/2010
Announcement Detail:
Type: Announcement
Subject: Satang Holdings Berhad ("Satang" or "the Company")
- Directive for the Re-constitution of the Audit Committee
Contents: Reference is made to the directive letter from Bursa Malaysia Securities Berhad dated 3 November 2010 attached herewith.
Bursa Malaysia had highlighted to the Company that the dissolution of Audit Committee by the Board of Directors is inconsistent with the requirement to maintain an Audit Committee at all time in accordance with Paragraph 15.09 (1) of LR. Bursa Malaysia also find the Company's rationale to dissolve the Audit Committee as stated in the announcement dated 2 November 2010 is not acceptable. Pursuant to Paragraph 15.09 of the LR any vacancy in the Audit Committee can be filled within 3 months.
Without prejudice to Bursa Malaysia's right to take action under the LR, pursuant to Paragraph 2.23 of the LR, the Company and its Board of Director is hereby directed to ("Directive"):
(a) Reinstate and reconstitute the Audit Committee for compliance with paragraph 15.09 of the LR with immediate effect and to furnish Bursa Malaysia documentation evidence which includes minutes of board meeting to confirm the same.
(b) To ensure that the mandate previously given to the Audit Comittee and/or its members on the appointment of the investigative auditor remain unchanged and effective. The time frame to commence the investigative audit must be carried out based on the agreed scope immediately, in any event should not be later than 5 market days from the date hereof.
The Board is now advised that the Audit Committee cannot be dissolved. Being so, the Board had taken immediate step to reinstate the Audit Committee with immediate effect.
This announcement is dated 3 November 2010.
Attachments: bursa letter.pdf
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 03/11/2010
Announcement Detail:
Type: Announcement
Subject: Satang Holdings Berhad ("Satang" or "the Company")
- Directive for the Re-constitution of the Audit Committee
Contents: Reference is made to the directive letter from Bursa Malaysia Securities Berhad dated 3 November 2010 attached herewith.
Bursa Malaysia had highlighted to the Company that the dissolution of Audit Committee by the Board of Directors is inconsistent with the requirement to maintain an Audit Committee at all time in accordance with Paragraph 15.09 (1) of LR. Bursa Malaysia also find the Company's rationale to dissolve the Audit Committee as stated in the announcement dated 2 November 2010 is not acceptable. Pursuant to Paragraph 15.09 of the LR any vacancy in the Audit Committee can be filled within 3 months.
Without prejudice to Bursa Malaysia's right to take action under the LR, pursuant to Paragraph 2.23 of the LR, the Company and its Board of Director is hereby directed to ("Directive"):
(a) Reinstate and reconstitute the Audit Committee for compliance with paragraph 15.09 of the LR with immediate effect and to furnish Bursa Malaysia documentation evidence which includes minutes of board meeting to confirm the same.
(b) To ensure that the mandate previously given to the Audit Comittee and/or its members on the appointment of the investigative auditor remain unchanged and effective. The time frame to commence the investigative audit must be carried out based on the agreed scope immediately, in any event should not be later than 5 market days from the date hereof.
The Board is now advised that the Audit Committee cannot be dissolved. Being so, the Board had taken immediate step to reinstate the Audit Committee with immediate effect.
This announcement is dated 3 November 2010.
Attachments: bursa letter.pdf
SATANG - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 03/11/2010
Announcement Detail:
Date of change: 03/11/2010
Type of change: Others
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Syed Abdul Razak bin Syed Long Alsagoff
Age: 50
Nationality: Malaysian
Qualifications: BSc Agribusiness, Universiti Pertanian Malaysia.
Working experience and occupation: Syed Abdul Razak Alsagoff, aged 48, graduated from Universiti Pertanian Malaysia with a BSc (Agribusiness) on a Malaysian Tobacco Company Scholarship in 1984. In 1981, he attended summer sessions at Sophia University, Tokyo on a Japan Airlines Scholarship. From 1984 to 1985, he was with IBM World Trade Corporation in the marketing department. From 1985 to 1989, he was Fina Oil's state distributor for Negeri Sembilan. In 1989, he was one of the youngest to receive a PJK from Duli Yam Tuan Negeri Sembilan. From 1989 to 1993, he was a remisier with Mohaiyani Securities Sdn Bhd. He is currently Chairman of Wire & Wire (Malaysia) SDn Bhd and a director of Nova Domino Sdn Bhd, a full offset printing company. From 1989 to 1994, he was treasurer of UMNO Youth Jalan Sultan Ismail Branch, Bukit Bintang. He is an alumni member of Sek Men Sains Selangor and an Old Boy of St John's Institution, Kuala Lumpur. He was the YDP PIBG of SK Bandar Sri Damansara 1 from 2004 to 2007. Currently he is the new YDP PIBG of Sek Men Keb Bandar Sri Damansara 1. He is also the Deputy President of Bandar Sri Damansara Residents Association, a township of 60,000 population. He is also Secretary of Kelab Sukan Bermotor Integrasi an affiliate of MAM (Motorsports Association of Malaysia) based at Speedway PLUS Circuit, USJ, Subang Jaya. Syed Razak Alsagoff is also a regular political commentator and guest on Hello Malaysia, Bernama TV, Channel 502.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: 370,000 ordinary shares of RM0.50 each
Composition of Audit Committee (Name and Directorate of members after change): Izham bin Yusoff (Chairman)
- Independent Non-Executive Director
Syed Abdul Razak bin Syed Long Alsagoff (Member)
- Independent Non-Executive Director
Remarks: En Syed Abdul Razak bin Syed Long Alsagoff was reinstated as member of the Audit Committee with effect from 3 November 2010.
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 03/11/2010
Announcement Detail:
Date of change: 03/11/2010
Type of change: Others
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Syed Abdul Razak bin Syed Long Alsagoff
Age: 50
Nationality: Malaysian
Qualifications: BSc Agribusiness, Universiti Pertanian Malaysia.
Working experience and occupation: Syed Abdul Razak Alsagoff, aged 48, graduated from Universiti Pertanian Malaysia with a BSc (Agribusiness) on a Malaysian Tobacco Company Scholarship in 1984. In 1981, he attended summer sessions at Sophia University, Tokyo on a Japan Airlines Scholarship. From 1984 to 1985, he was with IBM World Trade Corporation in the marketing department. From 1985 to 1989, he was Fina Oil's state distributor for Negeri Sembilan. In 1989, he was one of the youngest to receive a PJK from Duli Yam Tuan Negeri Sembilan. From 1989 to 1993, he was a remisier with Mohaiyani Securities Sdn Bhd. He is currently Chairman of Wire & Wire (Malaysia) SDn Bhd and a director of Nova Domino Sdn Bhd, a full offset printing company. From 1989 to 1994, he was treasurer of UMNO Youth Jalan Sultan Ismail Branch, Bukit Bintang. He is an alumni member of Sek Men Sains Selangor and an Old Boy of St John's Institution, Kuala Lumpur. He was the YDP PIBG of SK Bandar Sri Damansara 1 from 2004 to 2007. Currently he is the new YDP PIBG of Sek Men Keb Bandar Sri Damansara 1. He is also the Deputy President of Bandar Sri Damansara Residents Association, a township of 60,000 population. He is also Secretary of Kelab Sukan Bermotor Integrasi an affiliate of MAM (Motorsports Association of Malaysia) based at Speedway PLUS Circuit, USJ, Subang Jaya. Syed Razak Alsagoff is also a regular political commentator and guest on Hello Malaysia, Bernama TV, Channel 502.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: 370,000 ordinary shares of RM0.50 each
Composition of Audit Committee (Name and Directorate of members after change): Izham bin Yusoff (Chairman)
- Independent Non-Executive Director
Syed Abdul Razak bin Syed Long Alsagoff (Member)
- Independent Non-Executive Director
Remarks: En Syed Abdul Razak bin Syed Long Alsagoff was reinstated as member of the Audit Committee with effect from 3 November 2010.
SATANG - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 03/11/2010
Announcement Detail:
Date of change: 03/11/2010
Type of change: Others
Designation: Chairman of Audit Committee
Directorate: Independent & Non Executive
Name: Izham bin Yusoff
Age: 43
Nationality: Malaysian
Qualifications: Bachelor in Accounting degree in 1990 and a Master of Business Administration (Accounting & International Business) degree in 1991, both from the University of Miami, USA.
Working experience and occupation: Began his career with Citibank NA in Miami as Assistant Business Planning & Analysis Manager from January 1992 to June 1992 before joining Procter & Gamble in Singapore as Financial Analysis Manager, Corporate from July 1992 to September 1995. He then joined Citibank Berhad in Malaysia as Financial Controller from October 1995 to November 1996. He was the Corporate Strategy Manager with Maxis Berhad from December 1996 to December 1997, Special Assistant to the Managing Director of EON Berhad from January 1998 to July 2002 and Managing Director of Amanah Raya Berhad from August 2002 to 30 June 2004. He was the CEO of KUB Malaysia Berhad from 1 July 2004 to 31 March 2007. He is currently the COO and Executive Director of Ninebio Sdn Bhd. He is also the director of Bursa Malaysia Berhad.
Directorship of public companies (if any): Bursa Malaysia Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Izham bin Yusoff (Chairman)
- Independent Non-Executive Director
Syed Abdul Razak bin Syed Long Alsagoff (Member)
- Independent Non-Executive Director
Remarks: En Izham bin Yusoff was reinstated as the Chairman of the Audit Committee with effect from 3 November 2010.
Company Name: SATANG HOLDINGS BERHAD
Stock Name: SATANG
Date Announced: 03/11/2010
Announcement Detail:
Date of change: 03/11/2010
Type of change: Others
Designation: Chairman of Audit Committee
Directorate: Independent & Non Executive
Name: Izham bin Yusoff
Age: 43
Nationality: Malaysian
Qualifications: Bachelor in Accounting degree in 1990 and a Master of Business Administration (Accounting & International Business) degree in 1991, both from the University of Miami, USA.
Working experience and occupation: Began his career with Citibank NA in Miami as Assistant Business Planning & Analysis Manager from January 1992 to June 1992 before joining Procter & Gamble in Singapore as Financial Analysis Manager, Corporate from July 1992 to September 1995. He then joined Citibank Berhad in Malaysia as Financial Controller from October 1995 to November 1996. He was the Corporate Strategy Manager with Maxis Berhad from December 1996 to December 1997, Special Assistant to the Managing Director of EON Berhad from January 1998 to July 2002 and Managing Director of Amanah Raya Berhad from August 2002 to 30 June 2004. He was the CEO of KUB Malaysia Berhad from 1 July 2004 to 31 March 2007. He is currently the COO and Executive Director of Ninebio Sdn Bhd. He is also the director of Bursa Malaysia Berhad.
Directorship of public companies (if any): Bursa Malaysia Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Izham bin Yusoff (Chairman)
- Independent Non-Executive Director
Syed Abdul Razak bin Syed Long Alsagoff (Member)
- Independent Non-Executive Director
Remarks: En Izham bin Yusoff was reinstated as the Chairman of the Audit Committee with effect from 3 November 2010.
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