ASSAR Group

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AMANAH SAHAM SARAWAK BERHAD (ASSB)

 

1. KEY MANAGEMENT TEAM:

The key management team of ASSB as at 30 September 2017 comprises of the following:


Chief Executive Officer
Puan Norlia Madon

Head of Corporate Communications & Operations
Encik Mohammad Shukri Mohamad Ali Yakop

Head of Corporate Marketing & Sales
Encik Leslie Veno

Senior Compliance Officer (SCO) for ASSB
Puan Ng Boon Wank*

Manager, Finance
Cik Rajuna Ambi

 

*Payroll under ASSAR Corporate Services Sdn Bhd, the appointed middle office service provider.


2. SUMMARY OF FINANCIAL INFORMATION:

The following is a summary of the past performance of ASSB based on audited financial statements for the last three (3) years.

Year Ended 31 December

2016
(RM)
2015
(RM)
2014
(RM)

Paid-up share capital

10,000,000

10,000,000

10,000,000

Shareholders’ funds

13,949,315

13,110,100

11,350,524

Revenue

7,357,927

7,563,265

4,801,723

Profit/(Loss) before taxation

846,583

1,767,076

(986,937)

Profit/(Loss)  after taxation

839,215

1,759,576

(986,937)

 

3. TOTAL NUMBER OF FUNDS AS WELL TOTAL VALUE OF FUNDS OPERATED BY ASSB:

Amanah Saham Sarawak or better known as ASSAR (the Fund) is the only fund being managed by ASSB and as at 31 March 2017, the NAV of the Fund is RM483.85 million.

 

4. EXTERNAL FUND MANAGER

Background Information

With effect from 1 January 2005, ASSB has appointed its related corporation, AAMSB a licensed fund manager under the Act, as the External Fund Manager for the Fund. Incorporated on 29 March 1995, AAMSB is a wholly-owned subsidiary of PASB.

As the External Fund Manager, AAMSB is responsible for providing investment management services to the Fund in accordance with the asset management agreement. AAMSB reports to the investment committee of ASSB on a regular basis with regard to the performance of the portfolio and its investment strategies. AAMSB is entitled to an annual management fee and this fee shall be borne by ASSB.

AAMSB has more than twenty (20) years’ experience in providing fund management services and as at 31 March 2017, AAMSB manages funds totalling RM155.31 million with 52.08% in equities, 25.78% in unit trust and 22.14% in cash, short term deposits and etc. AAMSB’s performance is measured based on time weighted rate of return against the FBMKLCI.

The staff strength of AAMSB as at 30 September 2017 comprises of two (2) managerial, three (3) executives and one (1) non-executive.

 

5. INVESTMENT COMMITTEE:

The present composition of the Investment Committee is as follows:

YBhg Tan Sri Datuk Amar Haji Bujang Mohd Nor (Chairman, non-independent)
Date of appointment     : 19 August 1993

YBhg Tan Sri Datuk Amar Haji Bujang Mohd Nor is the chairman of Permodalan ASSAR Sdn Bhd (“PASB”). He has an Honours Degree in Arts from University of Malaya, Singapore.  He has served in various senior positions in the Sarawak Civil Service and was a former state secretary of Sarawak from 1984 to 1992. He is also chairman/director/member of several companies and corporations.  Amongst these, he is the chairman of Normah Medical Specialist Center, and the board of directors of Permodalan Nasional Bhd (PNB). Currently, he is the executive chairman of Harwood Timber Sdn. Bhd., a wholly owned subsidiary of Sarawak Timber Industry Development Corporation (STIDC).

YBhg Dato Sri Ahmad Tarmizi Haji Sulaiman (Non-independent)
Date of appointment     : 1 October 2002

YBhg Dato Sri Ahmad Tarmizi Haji Sulaiman is the state financial secretary of Sarawak. Prior to his current appointment he was the deputy state financial secretary of Sarawak, since October 2002. He served as the chief executive officer of ASSB from August 1993 to September 2002. He has a Degree in Business Administration from Syracuse University, New York and a Master in Business Administration from the University of Wisconsin, USA. He has extensive experience in the areas of investment and fund management as well as corporate finance. He was the fund manager at Arab-Malaysian Merchant Bank Berhad and following that, American International Assurance. He also sits on the board of various companies and statutory bodies.

YBhg Dato’ Peter Minos (Independent)
Date of appointment     : 29 May 2009

YBhg Dato’ Peter Minos is currently the Walikota (Chairman) of Samarahan, director of Bau Palm Oil Mill, Sarawak and deputy chairman of Lembaga Perlesenan Kenderaan Perdagangan, Sarawak (LPKP). He holds a Master’s Degree in Business Administration from University of Hull, England, a Degree in Economics from University of Malaya and a Degree in Law from Ealing College of Higher Education, London. He left to join Sarawak Timber Industry Development Corporation (STIDC) as an economist/marketing officer in 1975 and left STIDC to become a businessman in 1980. He is an active businessman and is or was a member of various voluntary and charitable organizations and agencies, including the National Economic Consultative Council (MAPEN) in 1990 and 2000, the Sarawak Heart Foundation, Sarawak Land Development Board, Dayak Cultural Foundation, State NCR Land Task Force, the Sarawak Tourism Board, Dayak Chamber of Commerce and Industry, Borneo Highland Resort and the Sarawak Land Consolidation And Rehabilitation Authority (SALCRA). He was also the president of the Dayak Bidayuh National Association (DBNA) and is now the chairman of the Persatuan Warisan Bung Bratak (PERWARIBB).

YB Datuk Ambrose Blikau Enturan (Independent)
Date of appointment : 20 June 2017

YB Datuk Ambrose Blikau Enturan is currently a State Assembly Member of Sarawak. He holds a Masters in Business Administration in Organisational Behaviour from University of Heriot-Watt, Scotland. He has served various positions in the Sarawak Civil Service. He is a former Assistant Minister of Resource Planning in 1987 and Assistant Minister of Planning and Resource Management, Finance and Public Utilities in 2001. He was also a former Assistant Minister of Rural Development and Public Utilities in 2009. He is a member of the board of directors of Ta Ann Holdings Berhad and also an Executive Director or Chief Executive Officer of Hornbill Skyways Sdn. Bhd.

The Frequency of Investment Committee Meeting:
Reporting directly to the board of directors, the investment committee's main responsibility is to oversee and draw up broad policies for the fund management activities of the Fund. The members of the investment committee (“the Committee”) meet regularly, at least once every two (2) months to review the Fund's investment portfolio to ensure that all statutory guidelines relating to investment by unit trust funds are complied with.

 

6. MANAGEMENT COMPANY’S DELEGATE:

1. ASSAR Nominees Tempatan Sdn Bhd (ANTSB)

ASSB has appointed ANSTB to perform all back-room ancillary and administrative functions for the Fund. Incorporated on 26 July 1995, ANTSB is a wholly   owned subsidiary of PASB, the holding company of ASSB.

Under the terms of the service agreement dated 21 December 2012, ANTSB will maintain proper accounts, carry out daily valuation, give information and assistance relating to the Fund as required by ASSB. All fees and expenses arising out of this appointment are not charged to the Fund and are solely borne by ASSB.

The overall staff strength of ANTSB as at 30 September 2017 comprises of one (1) senior executive, one (1) acting executive, one (1) executive and two (2) clerks.

2. ASSAR Corporate Services Sdn Bhd (ACSSB)

With effect from 1 January 2017, ASSB has outsourced its Middle Office Functions i.e Compliance, Internal Audit and Risk Management to   ACSSB. ACSSB is a wholly owned subsidiary of PASB, the holding company of ASSB.

The overall staff strength of ACSSB as at 30 September 2017 comprises of one (1) senior manager, one (1) manager, two (2) assistant managers, one (1) senior executive, four (4) executives and one (1) acting  junior executive.

Last Updated on Tuesday, 24 October 2017 02:21