1. CORPORATE PROFILE of GEORGE YAP KOI MING ESQ.
CA(ICAEW), ADFS(FP), DFS(FP) & DFS(MFB)
KMY GLOBAL: KM YAP & COMPANY (Sydney since 1990)
COMMERCIAL IN CONFIDENCE
P.O. Box 2381 Carlingford Court,
Carlingford, NSW 2125,
AUSTRALIA
T: +61 405 976 902
T : +86 138 2628 5123
E: george@kmy.global
Website: www.kmy.global
Mr. George YAP Koi Ming (Mr. Yap) is a practicing member of The Institute of
Chartered Accountants in England and Wales since 1984. He holds an
Advanced Diploma in Financial Services (Financial Planning), Diploma in
Financial Services (Financial Planning) and Diploma in Financial Services
(Mortgage & Finance Broking). He is citizen of Malaysia and Permanent Resident
of Australia since 1988.
Vision, Mission and Values
Mr. Yap’s vision is to provide his selected clients with the expertise to manage on a
hedged and fully insured strategy to maximise enterprise value on a sustainable
basis from time of becoming a strategic partner and or cornerstone investor under
a Joint Venture or cross border transaction basis.
On a compounded basis ensure that clients will achieve a sustainable growth rate
of 10% such that in 7.2 years clients will double its enterprise value on an earnings
basis as per EPS model for listed companies or EBITDA for unlisted companies.
Our selected clients represent business builders who wish to build the next great
company on a sustainable tangible basis.
Our business principles is that our success is based on our Clients’ success.
Notable Achievements
Mr. Yap’s notable achievements include:
Australia
Established KMY GLOBAL: KM YAP & COMPANY, Chartered Accountant
in Sydney, NSW, Australia since1990 as Founder and Managing Principla.
Obtained Auditor licence in same year. Evolved to provide complete one-stop
financial services to include wealth management. As an auditor I will not accept
any other appointments of the same client. As financial planner I was allowed to
write unlimited business including estate planning with insurance product to cover
and gap risks. (Sydney Since 1990)
USA-Chine-Macau-Hong Kong-Belize-Sweden-Norway-United Kingdom
Appointed Independent Director and Audit Chair of Sino Agro Food, Inc. My role is
to provide Corporate Governance, review of Internal Control for Preparing Financial
Statements as well as review of conflicts of interests, valuations and financial
reporting. I am consolidated a “Financial Expert” by the SEC, USA to act as Audit
Chairman (since 2013).
2. Corporate Profile of George YAP Koi Ming
Page 2 of 6
Australia
1) Contractor CFO, Australian Commonwealth Department of Finance &
Administration (DOFA) - Australian Parliament (2000). The annual budget was
in excess of AUD 600 million. I was engaged by Price Waterhouse Consulting,
Sydney and my shareholder of fees was 50% plus all accommodation, meals
and air-flight expenses;
2) Contractor CFO, Australian Commonwealth Department of Finance &
Administration (DOFA) – Commonwealth Properties (with international property
portfolio in excess of AUD 3 billion) & Privatisation Departments I was engaged
by Price Waterhouse Consulting, Sydney and my share of fees was 50%;
3) Specialist Auditor Contractor to Deloitte, Canberra regarding the audit of the
Child Support Agency (with a balance sheet value in excess of AUD 600
million) divestment by the Australian Taxation Office as it evolved as a statutory
body;
4) Executive Assistant to the Executive Committee of Credit Suisse First Boston
(CSFB), the Asia Pacific Head Office of CSFB (1990-1992) and promoted to
head 3 departments, namely 1) Banking – Capital; 2) Banking Finance; and 3)
Risk Management. I wrote the first Fixed Note in Australia for the bank. CFSB
were the first investment bank to launch mortgaged backed securities and was
a market leader. CSFB were then the leading privatisation investment banker in
Australia-NZ;
Malaysia-Australia
5) Executive Director of Pacific Matrix Limited – completed Creditors Settlement
under Deed of Release, then Reverse Takeover of River House Limited with
Asset Injection of Malaysian Assets created a pro-forma valuation of AUD 300
million with equity portion exempted from escrow provisions (1997-1999);
Malaysia
6) Public Interest Director of The Federation of Investment Managers (FIMM) an
appointment sanctioned by Securities Commission Malaysia with focus on
protecting investors and public interests, this is a national service role for a
professional like myself;
7) Chairman of the Loans Documentation Committee, member of Management
Committee, Loans Workout Committee, Systems Steering Committee, Review
Committee and Head of Corporate Banking and Chief Internal Auditor of Bank
of Commerce Berhad (now known as CIMB Banking Group) (1983-1988).
Initiated the acquisition of a local stockbroking firm to become CIMB Securities
after rescue package and uplifting a court injunction by a Hong Kong bank on
the same day after review of cash flow which averted a stock exchange liquidity
crisis if inunction proceeded. The Bank during my tenure of office was managed
by JP Morgan and I am a JP Morgan trained cash flow lender as well as
Internal Auditor;
8) Corporate adviser and corporate broker at Apex Securities Sdn Bhd and
successfully completed the Rights and Convertible Bond Underwritten by
Malaysian Banks with a AAA credit rating. My cash flow model when presented
to Ratings Agency Malaysia was accepted for credit rating. The shares of Apex
3. Corporate Profile of George YAP Koi Ming
Page 3 of 6
Holdings Berhad rose from RM 3.00 plus to over RM 36.00 within a short time
of its announcement;
9) Provided Accountants’ Report on Business Interruption Loss Claim for client,
Henkel Rika Oleo Chemicals Sdn Bhd, a Golden Hope Plantations Berhad
subsidiary to AIA (America Insurance Assurance) which successful improved
claim amount from RM 700,000 to RM 3.4 Million. Per my report the total loss
claimed was RM10 million;
10)Specialised in auditing banks (investment and commercial), finance companies,
stockbrokers, automobile assemblers of global brand cars, plantations,
construction, property developers with PriceWaterhouse Coopers (PWC) in
Kuala Lumpur (1980-1982). With Hanafiah Raslan Mohamad (HRM)/ Touche
Ross (now known as Ernst & Young), I prepared the Accountants Report for
listing of D&C Bank when it applied and was successfully listed on Main Board of
The Kuala Lumpur Stock Exchange (KLSE). I was promote to be Branch
Manager, of HRM Johor, where I was responsible for all professional services
and my major clients included the Robert Kouk Group of companies including the
private companies, Johor SEDC (State Economic Development Board) which
was managed by the Mentri Besar of Johor, and its Honorable & Distinguished
Chairman.
London
11)Specialised in auditing, accounting, insolvency and taxation including back duty
investigations with Pitman Cakebreak & Co, a boutique Chartered Accountancy
firm. Audits covered Housing Associations which was a specialised audit. Back
Duty Investigations involved preparing of Income and Capital Statements of each
taxpayer to reconcile with their cash and banking records which were incomplete
to their tax returns and then negotiating an agreed settlement to minimise tax
and avoid tax evasion prosecution. Our insolvency practise controlled about 20%
of insolvencies in London. At this firm I learnt the depth of forensic accounting
and preparation of financial statements in accordance with accounting standards
PROFESSIONAL BACKGROUND AND HISTORY
Mr. Yap is a practising member of The Institute of Chartered Accountants in
England and Wales (ICAEW) since 1984. This allows him to practise freely in the
EU on a structured basis if required.
Mr. Yap is Independent Director of the SINO AGRO FOOD, INC., a listed company
on www.otcbb.com since January 1, 2013. He is Chair of Audit Committee since
February 1, 2013.
In Australia, Mr. Yap was a licensed financial planner and wealth management
professional (2000 – 2012) with a leading Australian financial dealer group of
over 300 senior advisors to provide financial advice on wealth creation,
accumulation, transitioning into retirement, retirement, welfare entitlements including
recommendation of investments – approved financial products (equity, debt, fixed
income, instalments, cash, real estate) – to individuals, approved superannuation
funds (SMSF), trusts and other legal persons. In addition to provide advise on
insurance (life, income protection and similar) to individuals or SMSF. Providing
wealth creation strategies to clients regarding their financial products for
investment, provide advisory services and advise Self-Managed Super Funds
4. Corporate Profile of George YAP Koi Ming
Page 4 of 6
tailored to their risk profile and as an advanced professional adviser was
allowed to write any business with no limits with an impeccable track record. He
was also a finance and mortgage broker of over 20 years standing.
Mr. Yap was also registered company auditor from 1990 – 2013.
Mr. Yap is a practicing international chartered accountant with over 30 years
standing, based in Sydney, New South Wales, Australia. He brings a wealth of
senior executive expertise, experience and skills in corporate governance at
international investment banking, corporate banking, stock broking, property
banking, assets management, corporate finance, financial reporting, investment
strategies, international auditing experience, and investor relations, and corporate
finance with knowledge of OTCBB, NASDAQ OMX Stockholm, the Swedish
Stock Exchange, ASX, HKSE, Bursa Malaysia, and SGX that will benefit the
Company. His international experience covers Australia-NZ, USA, United
Kingdom, Europe, Malaysia, the ASEAN, China and Hong Kong.
Founder & Managing Principal of KM YAP & COMPANY, Chartered
Accountant, Sydney, NSW since 1990
Mr. Yap is the founder and managing principal of K M Yap & Company, a sole
proprietary firm of Chartered Accountancy in Sydney, NSW, Australia since 1990
providing one stop value strategy, corporate governance, income and asset
protection, estate planning, succession planning including selection of experts
in investment banking, family office, auditing and assurance, management
consultancy, finance and financial services. He is also the managing director of
Brenna Investments Pty Ltd. since 1998.
Public Interest Director of The Federation of Malaysia, Kuala Lumpur,
Malaysia
Mr. Yap was public interest director of The Federation of Investment Managers
Malaysia, the peak investment managers association in Kuala Lumour Malaysia (a
position sanctioned by the Securities Commission of Malaysia) 2010-2013, role
which covered providing advice on best practice for protection of investors, public
interests and origination of Malaysia’s private pension plans establishment in
Malaysia.
Contractor Chief Financial Officer Contract of Australia Commonwealth
Department of Finance & Administration – Property & Privatisation
Divisions & The Australian Parliament, Canberra, ACT, Australia
In Australia I was engaged as contractor Chief Financial Officer with the
Australian Government’s Commonwealth Department of Finance and
Administration (DOFA) in respect of its global Property Division (with offshore
property in excess of AUD 3 Billion) and Privatization entities and The
Prime Minister, Ministers, Members of Parliament and Senate Division by
appointment with PWC Consulting, and was engaged as a specialist auditor by
Deloitte with regard to the balance sheet audit of the divestment of the Child
Support Authority (to become a Statutory Body) by Australian Taxation Office
(1999-2001).
5. Corporate Profile of George YAP Koi Ming
Page 5 of 6
Investment Banking, Senior Executive of CSFB (Credit Suisse Fist Boston,
Asia Pacific Regional Office, Sydney) as Executive Assistant to the
Executive Committee, and simultaneously promoted as Head of 3
Departments, namely Banking – Capital; Banking Finance & Risk
Management, Sydney, NSW, Australia
Mr. Yap was a senior executive in CSFB (Credit Suisse First Boston) as
Executive Assistant to Executive Committee, a leading global investment
banking group and was promoted the following year as simultaneous head of 3
departments at CSFB’s Regional Asia Pacific Head Office, Sydney, namely as
Head of Banking - Capital, Head of Banking – Finance, and Head of Risk
Management. In addition I was also Executive Assistant to Executive Committee,
my original appointment (1990-1992). CSFB group included franchises in
investment banking, stock broking, assets management, futures, and mortgage
backed securities origination, trading and advisory services. I was responsible for
the CSFB’s first Fixed Rate Note issuance in 1991 sourced from Singapore
investors and CSFB was a world leader in privatization including privatization of
Telecoms New Zealand and Australian amongst others.
Corporate Equities Dealer and Corporate Financier at Apex Securities
Berhad, a subsidiary of APEX Equity Holdings Berhad, Kuala Lumpur,
Malaysia
In 1994, Mr. Yap was corporate equities dealer and corporate financier to APEX
Equity Holdings Berhad a KLSE Listed company that had Jardine Flemings,
Hong Kong as a shareholder, and crafted the first Convertible and Redeemable
Loan Stock-Warrant secured by prime Malaysian Banks’ Guarantees with a AAA
credit rating, a first for a Malaysian stock broker amounting to RM 80 million.
Reporting Accountant’s Report on Business Interruption Loss Claims
against AIG’s AIA in Malaysia
In 1996, in litigation support Mr. Yap issued a Reporting Accountants’ Report on
Business Interruption Loss Claim behalf of Henkel Rika Oleo Chemicals
(Malaysia) Sdn. Bhd. a subsidiary of Golden Hope Plantation Berhad in respect of
its claims against AIG (American Insurance Group) under its Business
Interruption Loss Cover, which increased the approved claim of RM 700,000.00 to
a successful out of court settlement of RM4,000,000.00.
Pioneer Banker & Senior Executive of Bank of Commerce Berhad (now
known as CIMB Bank Berhad) acting as Chairman of Loans Documentation
Committee, member of the Management Committee, Loans Workout
Committee, Systems Committee and Systems Review Committee. My
executive positions included Head of Corporate Banking, Chief Internal
Auditor and Representative of the Bank at Creditors Steering Committee.
Kuala Lumpur, Malaysia.
Mr. Yap was a pioneer banker and senior corporate banking executive (1983 –
1988) with Bank of Commerce Berhad, a leading Malaysian commercial banking
group (with franchise included investment banking, stock broking and assets
6. Corporate Profile of George YAP Koi Ming
Page 6 of 6
management). I was promoted in 1986 as head of corporate banking with CIMB
Bank Berhad (then known as Bank of Commerce Berhad, which was the under
Management of JP Morgan up to 1987). I was trained as a JP Morgan Banker
(which was to lend based on project finance cash flow lending principles not just
collateral). Prior to becoming Head of Corporate Banking I was Chief Internal
Auditor (and trained as a JP Morgan Internal Auditor) when appointed in
November 1983. I was promoted to be Chairman of Loans Documentation
Committee to revamp the banks loan documentation and processing standards, a
first in Malaysia. I was appointed a member of Management Committee, Loans
Work-Out Committee, Systems Committee and Systems Review Committee. I
represented the bank at various Creditors Steering Committees involved with the
restructuring of major syndicated loans to Malaysian borrower sourced from
international banks on a cross border basis.