Beruflich Dokumente
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Corporate Section
Whats inside
Corporate Section
Corporate Information Corporate Structure
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Event Highlights
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Financial Section
Directors Report
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Corporate Section
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Corporate Information
DIRECTORS Izlan bin Izhab (Independent Non-Executive Chairman) Tiang Boon Hwa (Managing Director) Lai Su Ping (Non-Independent Executive Director) Chua Tiong Hoong (Non-Independent Executive Director) Cho Wai Loon (Independent Non-Executive Director) Tan Boon Leng (Independent Non-Executive Director)
COMPANY SECRETARIES Ho Mun Yee (MAICSA 0877877) Tam Fong Ying (MAICSA 7007857) REGISTERED OFFICE 3rd Floor 17, Jalan Ipoh Kecil 50350 Kuala Lumpur Telephone no.: 603 4044 3235 Fax no.: 603 4041 3959 E-mail: esprit@espritms.com.my HEAD OFFICE Wisma N2N Level 9, Tower 2 Avenue 3, Bangsar South No. 8, Jalan Kerinchi 59200 Kuala Lumpur Telephone no.: 603 2241 1818 Website: www.n2nconnect.com
AUDITORS Morison Anuarul Azizan Chew (AF 001977) Chartered Accountants 18, Jalan 1/64 Off Jalan Kolam Air/Jalan Ipoh 51200 Kuala Lumpur Telephone no.: 603 4048 2888 REGISTRAR Symphony Share Registrars Sdn Bhd (378993-D) Level 6, Symphony House Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Telephone no. : 603 7841 8000 Fax : 603 7841 8008 PRINCIPAL BANKERS Malayan Banking Berhad AmBank (M) Berhad STOCK EXCHANGE LISTING ACE Market of Bursa Malaysia Securities Berhad Stock Name: N2N Stock Code : 0108
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Corporate Section
Corporate Structure
N2N GLOBAL SOLUTIONS SDN BHD
(N2NGS)
100%
100%
NGN CONNECTION SDN BHD
(NGN)
Corporate Section
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Chairmans Statement
Dear Shareholders, On behalf of the Board of Directors of N2N Connect Berhad (N2N or Company), it is my pleasure to present the Annual Report and Audited Financial Statements of N2N and its subsidiaries (Group) for the financial year ended 31 December 2011 (Year 2011). The year under review was one during which the Group improved its financial performance significantly and gained momentum in its efforts to emerge as the leading local and regional Innovative Application Service Provider for the e-Commerce and m-Commerce segments of the Financial Industry.
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Asian Gateway. As an ongoing conformance exercise, the Group pledged to provide our innovative services and on the mark with world-class trading technologies.
Corporate Section
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Chairmans Statement
of disbursements and benefits for independent software vendors (ISVs) to develop cloud solutions for SMEs. The MDeC has also set aside RM2.25 million to deploy cloud software and services developed by ISVs. Malaysias 2011 budget contained a number of measures to boost the IT industry and help stimulate Information, Communication and Technology (ICT) adoption in the country. Key measures included a two-year extension on import tax and sales tax exemption on broadband equipment, and the establishment of the MY Creative Content programme to encourage the development of local content. The tax exemption should stimulate the purchase of various types of connectivity devices, including notebook Personal Computers. (Source: Malaysia Information Technology Report Q1 2012) suite, GlobalConnect and TraderConnect which incorporates a powerful technical analysis toolkit and innovative trading capabilities to deliver stateof-the-art desktop trading management system. Besides investing about 10% to 15% of its revenue on R&D, the Company will continue to invest in training and development skills for the employees in its R&D team and continue to encourage the development of fresh innovative concepts.
FUTURE PROSPECTS
As the countrys leading online trading service provider with DMA capabilities, we are in a unique position to capitalise on distinctive trends in the provision of technology solutions for the securities industry. A confluence of factors has opened up significant opportunities for N2N at a time when our technological capabilities and business model have matured. Many of the current trading platforms used by stockbrokers in the region are due for replacement. These replacement programmes are coming at a time when brokers want to have more streamlined crossborder trades, both broker-assisted or pure internet trading, simplified risk management and access to fundamental data and tools to facilitate decisionmaking. Of equal significance is the growing trend for the stock exchanges themselves to reduce their role as the provider of technological platforms so that they can focus on their core functions as regulator and promoter of the capital market. Against this backdrop, we have refined our solutions and stepped up our marketing to securities houses
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Corporate Section
and even to some exchanges. The larger securities houses headquartered in Malaysia are themselves expanding in the region and require standardised front and back-end systems which we can provide. The Group will continue to expand its operations in Malaysia, Singapore and Indonesia and to further penetrate overseas markets such as Philippines, Hong Kong and Thailand. Having turned the corner in financial performance, our focus over the next two to three years is to take advantage of this changing landscape to offer our solutions as the standard-bearer for the securities industry. In so doing, we will enhance shareholder value. The Board remains confident that, with a proven global strategy, continued strong execution and further differentiation in products and services, the Group will deliver profitable growth in the coming year.
I would also like to thank our shareholders for their continued support and confidence to our business. Izlan bin Izhab Chairman
ACKNOWLEDGEMENT
On behalf of the Independent Non-Executive Directors, I would like to thank the Executive Directors, the senior management team and all the N2N staff for all their hard work, dedication and invaluable assistance to the Companys standing as pioneers and to the Group as a whole. I am also grateful for the ongoing support of our customers. Many of our customer relationships have strengthened over the recent years with our responsibilities extending to include new solutions that ultimately help their business expand both locally and regionally.
Corporate Section
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Directors
Board of
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Corporate Section
Directors Profile
Izlan bin Izhab was first appointed to the Board of the Company on 22 August 2005. He holds a Bachelor of Laws degree from the University of London, UK and attended the Advanced Management Program at the University of Hawaii, USA. He occasionally lectures on Malaysian securities law, companies law and corporate governance for various public and private sector consultancy and training organizations. He was the Executive VicePresident of Corporate and Legal Affairs of Bursa Malaysia Berhad from 1985 until his retirement in 2000. He was also serving as Company Secretary for Kompleks Kewangan Malaysia Berhad from 1975 to 1978, before becoming the Company Secretary for Permodalan Nasional Berhad from 1978 to 1984. He began his career by serving as an Assistant Legal Officer for Majlis Amanah Rakyat in 1973. He is currently a Director of BOX-PAK (Malaysia) Berhad, CIMB Aviva Assurance Berhad, CIMB Aviva Takaful Berhad, K&N Kenanga Holdings Berhad, Malaysia Airports Holdings Berhad and OSK-UOB Investment Management Berhad (formerly known as OSK-UOB Unit Trust Management Berhad). He is also a member of the Board of Governors of Research Institute of Investment Analysts and Bursa Malaysia Berhads Appeals Committee. He also sits as the Chairman of the Option Committee and as a member of the Audit Committee, Nomination Committee and Remuneration Committee.
He has no family relationship with any other directors or major shareholders of the Company. There is no conflict of interest with the Company. Within the last 10 years, he has not been convicted for any offences, other than traffic offences, if any. He does not hold any shares in N2N.
Tiang Boon Hwa is one of the Companys founders and was first appointed to the Board of the Company on 24 August 2000. He obtained his Diploma in Computer Studies from City and Guilds of London Institute, UK in 1982. His main responsibilities include management of the Groups overall business, technology and financial matters. He started his career as a programmer with SGV Goh Tan Pte Ltd, a Singapore accounting cum software house and was promoted to senior consultant at the age of 25. In 1988, he left SGV Goh Tan Pte Ltd and headed the regional audit division (IT audit) of Citibank N.A South Asia, based in Singapore and was subsequently awarded the Best IT Auditor for Asia Pacific Region in 1989. He joined Computer Associates Pte Ltd in 1990 as an account manager and quickly rose to become the managing director for Computer Associates Pte Ltds subsidiary in Malaysia in 1992. Later, he joined i2 Technologies Pte Ltd in 1996 as a regional director to set presence in several Asian countries. In 1998, he joined Exact Software Asia Sdn Bhd to start up the Asia Development Centre. Having gained wide exposure in both information technology and business operations, he began his entrepreneur pursuit by starting N2N, in year 2000 together with several friends. Currently, he sits as a member of the Remuneration Committee and Option Committee. He does not hold any directorships on the Board of other public listed companies in Malaysia. He is a substantial shareholder of the Company and the husband of Lai Su Ping, the non-independent executive director and substantial shareholder of the Company. There is no conflict of interest with the Company. Within the last 10 years, he has not been convicted for any offences, other than traffic offences, if any. Please refer to page 85 of this Annual Report for his securities holding.
Corporate Section
10
Directors
Lai Su Ping is one of the Companys founders and currently an Executive Director of marketing and corporate events. She was first appointed to our Board on 10 August 2000. She obtained her Diploma in Marketing from the Chartered Institute of Marketing, UK in 1991. She is primarily responsible for the corporate events and public relations of our Company. She started her career in 1988 as a marketing executive for Yvonex Sdn Bhd and later she joined Kumpulan Jetson Berhad as a project executive specialising in events and exhibition organisation. In 1994, she joined Computer Associates (M) Sdn Bhd as a channel manager where she was instrumental in establishing a customer service team as well as setting up channel sales via the appointment of product distributors. She does not hold any directorships on the Board of other public listed companies in Malaysia. She is a substantial shareholder of the Company and the wife of Tiang Boon Hwa, the managing director and substantial shareholder of the Company. There is no conflict of interest with the Company. Within the last 10 years, she has not been convicted for any offences, other than traffic offences, if any. Please refer to page 85 of this Annual Report for her securities holding.
Lai Su Ping
Chua Tiong Hoong is one of the Companys founders and currently an Executive Director of business development. He was first appointed to the Board of the Company on 10 August 2000. He graduated with a Bachelor of Science in Computer Science (Double Major in Mathematics and Computing) degree from the University of Adelaide (Australia) in 1992. His main responsibility includes managing the day-to-day operations focusing on project implementation and technical operations of our Group. He started his career as a network engineer at Applied Business System Sdn Bhd in 1993. He was later responsible for project development and also managing the companys helpdesk. In 1994, he joined MicroForest Systems (M) Sdn Bhd as a project manager to spearhead the implementation of resource planning, point-of-sales and back-end systems for retail and manufacturing industries. He also supported the multilevel marketing and chemical manufacturing system. From 1997 to 2000, he was with Exact Software Asia Sdn Bhd as an assistant manager responsible for system development, specialising in Enterprise Resources Planning System. He founded N2N together with the founder members in 2000. He does not hold any directorships on the Board of other public listed companies in Malaysia. He has no family relationship with any other directors or major shareholders of the Company. There is no conflict of interest with the Company. Within the last 10 years, he has not been convicted for any offences, other than traffic offences, if any. Please refer to page 85 of this Annual Report for his securities holding.