Farlim Group Malaysia Berhad

Company Profile
Mission Statement
The Team

BACKGROUND

Farlim Group (Malaysia) Bhd was incorporated in Malaysia on 12 March, 1982 under the Companies Act, 1965 as a private limited company under the name of Perumahan Farlim (Malaysia) Sdn. Bhd. We assumed our present name on 24 October, 1994 and embraced our status as a public limited company on 25 October, 1994. We were listed on Bursa Malaysia Securities Berhad (formerly known as Kuala Lumpur Stock Exchange) on 26 July 1995.

OUR BUSINESS

Farlim is principally involved in property development while our subsidiaries are involved in property development, investment holding, marketing and distribution of building materials.

AWARDS & CERTIFICATIONS

Farlim is also a Class A Registered Contractor with the Pusat Khidmat Kontraktor (PKK) as well as a CIDB G7 Registered Contractor which allows us to undertake contracts with no limit to the contract sum. Farlim obtained a Ministry of Finance certificate in 2009 as Activities on Stationery, Office Equipment, Communications and Public Service Facilities.

Farlim has been conferred with two awards in recognition for its exemplary work:

The Prime Minister's 1990 Quality Award
The 1992 Malaysian Institute of Planners "Excellence in Urban Planning" Award
Champion for the 2011 Jabatan Kerja Raya Contractors Excellence Award

OUR WORK

The main thrust of Farlim's activities is the development of a new township known as Bandar Baru Ayer Itam on the island of Penang. The township is located in a targeted growth area, three miles from Georgetown. It represents the single largest development undertaken by a private sector developer on the island, covering 356 acres and comprising approximately 13,000 residential and commercial units.

Bandar Baru Ayer Itam is being rapidly transformed into a fully-integrated township which comprised a commercial centre offering various services like hypermarket, banks, pharmacies, clinics, restaurants, post office, petrol kiosk, kindergartens, police stations and many others. The development in the Bandar Baru Ayer Itam township is expected to be completed by the year 2015.

To date, we have launched 13,027 units of residential and commercial properties in Bandar Baru Ayer Itam. Total number of units sold to date is 13,026 units with a total sales value of RM1.135 billion.

Farlim had been awarded a contract by the Public Works Department from the Malaysian Government to construct Sekolah Menengah Kebangsaan Bandar Baru Air Itam, Pulau Pinang comprising of two blocks of four-storey administrative / school buildings and two blocks of four-storey science laboratory / school buildings. The total contract sum for the completion of the school is RM7.650 million.

Farlim has designed and built apartments for the Royal Malaysian Police within Bandar Baru Ayer Itam. The project was the first under the government's crash housing programme in 1990 that was contracted to the private sector and covered 980 units of three bedroom apartments, one police station, three community halls and suraus in addition to other community facilities. The project was completed in 1992 with a total sales value of RM61.25 million.

FINANCIAL INFORMATION

Announcements

Current (2011)

Annual Reports

Year Ends
2008
2009
2010

MISSION STATEMENT

"Reliability, Affordability and Enhanced Value."

Farlim believes in providing families with homes, not houses. We want homebuyers to raise families in homes that appreciate in value over years in caring and integrated communities. We are responsible to our shareholders, but even more so to our homeowners.

Farlim helps homeowners to achieve long-term financial stability in well-built homes within an eco-friendly environment.

VISION

Farlim will capitalize on the opportunities of globalization and seek opportunities in international markets. We will create sustainable communities and balanced ecosystems both locally and abroad.

BOARD OF DIRECTORS

Executive Committee

TAN SRI DATO' SERI LIM GAIT TONG
Aged 68, Malaysian
Executive and Non-Independent
Also as Chief Executive

DATO' HAJI MOHD. IQBAL BIN KUPPA PITCHAI RAWTHER
Aged 67, Malaysian
Executive and Non-Independent

LIM CHU DICK
Aged 27, Malaysian
Executive and Non-Independent

Non-Executive Directors

KOAY SAY LOKE, ANDREW
Aged 45, Malaysian
Non-Executive and Independent

YONG YEW WEI
Aged 59, Malaysian
Non-Executive and Independent

KHAIRILANUAR BIN ABDUL RAHMAN
Aged 46, Malaysian
Non-Executive and Independent

TAN SRI DATO' SERI LIM GAIT TONG

Aged 67, Malaysian
Executive and Non-Independent
Also as Chief Executive

He started his business career as a contractor with his father's construction business at the age of 15 and subsequently commenced his own construction company, Lim Gait Tong Construction, as a sole proprietorship in 1959. In 1962, he was awarded the Society Anonyme Des Etains De Kinta ("SEK") Mining Relocation Contract for 200 units of houses, the Kampar railway station and the Kampar market. In 1964, following a massive landslide, he rebuilt a sizable portion of the Ringlet and Brinchang townships in Cameron Highlands. In the same year, he obtained his JKR Class C Status which permitted him to tender for jobs throughout the Federation.

From 1964 to 1968, he undertook various projects under Lim Gait Tong Construction and his family's development company. He was involved extensively in meeting the construction requirements of Island and Peninsular Group of Companies in Penang. He was the main contractor for the Island Park and Jesselton Heights housing projects, which were then among the biggest private sector efforts in Penang.

Thereafter, from 1969 to 1975, he completed the Taman Evergreen and Taman Goodwood projects in Old Klang Road, Kuala Lumpur. He was instrumental to the development of Taman Cheras Utama project in Cheras, Kuala Lumpur and Taman KKB Utama project in Kuala Kubu Bahru through an affiliated company, Perumahan Farlim Sdn Bhd. He initiated the development of Bandar Baru Air Itam, which is the biggest private sector development in Penang. In recognition of his achievement in the construction/property sectors and contribution to the society, he was conferred the Grand Fellowship Award by the British Graduates Association Malaysia. Currently, he is the Chairman, Chief Executive and Managing Director of Farlim Group (Malaysia) Bhd.

He joined Farlim Group (Malaysia) Bhd. as a first Director on 12 March 1982. He is the Chairman of the Executive Committee comprising Members of the Board. He holds 10,000 shares and has deemed interest in 60,571,234 shares through Farlim Holding Sdn. Bhd., the holding company, in Farlim Group (Malaysia) Bhd. He does not hold any shares in the subsidiaries of Farlim Group (Malaysia) Bhd. except the following:

He also holds Directorship in Unico Holdings Bhd.

He is the spouse of Puan Sri Datin Seri Chin Chew Lin, Director of Farlim Group (Malaysia) Bhd. and its holding company Farlim Holding Sdn. Bhd. He is also a brother of Mr. Lim Yat Koi @ Lim Yoke Kwai, Director of Farlim Group (Malaysia) Bhd. and Director/Shareholder of its holding company Farlim Holding Sdn. Bhd. Save as above, he has no family relationship with Directors and major/substantial shareholders of Farlim Group (Malaysia) Bhd.

He does not have any conflict of interest with the Company other than that set out in the Disclosure Statements and/or the Financial Statements for the year ended 31 December 2009. He has no convictions for offences within the past ten years other than traffic offences, if any. He attended all of the five Board Meetings held during the financial year ended 31 December 2009. He is not among the Independent Directors who make up one-third of the total number of Directors.

DATO' HAJI MOHD. IQBAL BIN KUPPA PITCHAI RAWTHER

Aged 66, Malaysian
Executive and Non-Independent

He obtained a Certificate in Education from the University of Birmingham in 1964. Subsequently, he obtained his Bachelor of Economics Degree (Honours) and a Masters Degree in Business Administration in 1971 and 1973 respectively, both from the University of Malaya. He then furthered his studies and obtained the International Management Teacher's Programme certificate from the joint programme organised by the Harvard Graduate School of Business Administration and the Centre D' Enseignment Superior Des Affairs, Paris, France in 1978.

Currently, he is a Fellow of the Chartered Institute of Bankers, London, and a Fellow Executive of the Malaysian Institute of Management.

He started his career with the Ministry of Education from 1965 to 1969. During this period, he also served as the National Education Officer of the National Union of Teaching Professionals. In 1971, he joined Malaysian International Merchant Bank Berhad as Corporate Finance Officer during which he pioneered leasing and produced a research volume on "Leasing in Malaysia" before leaving in 1974.

In 1974 when the University of Malaya implemented the policy of using Bahasa Malaysia for tertiary education, he responded to a call from the University and joined the Faculty of Economics and Administration as a lecturer. Among his many achievements include being awarded the Sir Frederick Gallahan Memorial Award by the Australian-Malaysian Association of Australia in 1976 in recognition of his entrepreneurial management in Malaysia. Also, a team led by him to promote entrepreneurial management in Malaysia won the Malaysian Young Managers Competition in 1997 and subsequently, the Asian Young Managers Competition in the same year.

When Bank Negara Malaysia set up the Institute of Bankers in 1979, he took up the appointment as Executive Director. He relinquished the position in 1985 and has since been involved in the private sector, including his current commitments to Farlim Group (Malaysia) Bhd. He also served on the Council of the Malaysian Institute of Management ("MIM") from 1984 to 1991 and concurrently held the positions of MIM's Vice-Chairman and Chairman of its Management Committee from 1989 to 1991.

He has also served as an Adviser to the Peace and Happiness through Prosperity Institute in Japan from 1984 to 1990 and Japan's Foundation for Asian Management Development from 1989 to 1992. Currently, he is the Group Executive Director of Farlim Group (Malaysia) Bhd.

He joined Farlim Group (Malaysia) Bhd. as a Director on 4 May 1982. He sits on the Executive Committee comprising Members of the Board and on the Employees' Share Option Scheme Committee of the Company. He does not hold any Directorship in other public companies. He does not have any family relationship with any Director and major/substantial shareholder of Farlim Group (Malaysia) Bhd.

LIM CHU DICK

Aged 26, Malaysian
Executive

Assistant to the Chairman & Chief Executive of Farlim Group (Malaysia) Bhd in December 2007 and was appointed as a Director of Saga Realty & Development Sdn Bhd, an indirect subsidiary of Farlim Group (Malaysia) Bhd. on September 29, 2009.

He is the son of Tan Sri Dato' Seri Lim Gait Tong, Chairman, Chief Executive and Managing Director of Farlim Group (Malaysia) Bhd. and Director/Shareholder of its holding company Farlim Holding Sdn. Bhd. He graduated with a Bachelor of International Business (Distinction) from the RMIT University, Australia.

KOAY SAY LOKE, ANDREW

Aged 45, Malaysian
Non-Executive and Independent

Advocate and Solicitor by profession, who graduated from Monash University, Australia with a Bachelor of Economics Degree, majoring in Accounting and Bachelor of Law Degree in 1987. He obtained a Master in Law Degree from Monash University in 1994. He became an Associate Member of the Institute of Chartered Accountants, Australia in 1991 and a Fellow Member of the Institute of Chartered Accountants, Australia in 2002. He was enrolled as a Barrister and Solicitor of the Supreme Court of Victoria, Australia and the Federal Court of Australia in 1988 and has been a member of the Law Institute of Victoria, Australia since 1991. He was enrolled as an Advocate and Solicitor of the High Court of Malaya in 1995.

He worked with an accounting firm, Nelson Parkhill BDO in Australia and after enrolling as an Advocate & Solicitor of the High Court of Malaya in 1995, is now practising as a partner of Koay & Co. in Penang.

YONG YEW WEI

Aged 59, Malaysian
Non-Executive and Independent

KHAIRILANUAR BIN ABDUL RAHMAN

Aged 46, Malaysian
Non-Executive and Independent