HIGHLIGHTS - MINDA Malaysian Directors Academy

issue no.8 - October 2012KDN PP 16092/06/2012 (030572)Board ViewHIGHLIGHTSForeword by the CEO........3Book Review ......................14Upcoming Event 2013.......15Programme Highlights....... 17FEATURED ARTICLES47Group Governance:Directors with Many HatsBy Philip Koh Tong NgeeThe Code on Corporate Governanceand Its Impact on Gender DiversityBy Vijayam Nadarajah912What Makes an ExceptionalIndependentNon Executive Director?By Reza GhazaliContinuous ImprovementNeeded to Create an ExceptionalIndependent Non ExecutiveDirectorBy Reza Ghazali

CONTENTSContentsEditorial TeamFOREWORD.........................................................................3From The CEO’s DeskFEATURED ARTICLESARTICLE ONE.....................................................................4Group Governance: Directors with Many HatsBy Philip Koh Tong NgeeARTICLE TWO ....................................................................7The Code on Corporate Governance and Its Impact onGender DiversityBy Vijayam NadarajahARTICLE THREE ................................................................9What Makes an Exceptional Independent Non ExecutiveDirector?By Reza GhazaliARTICLE FOUR ................................................................12Continuous Improvement Needed to Create anExceptional Independent Non Executive DirectorBy Reza GhazaliBOOK REVIEW .................................................................14Leading the High Energy Culture: What the Best CEOs Doto Create an Atmosphere Where Employees FlourishUPCOMING EVENTS ........................................................15Directors Forum 2013Builiding High Performance Directors 2013Editor In ChiefDato’ Abdul Aziz Abu BakarContributorsPhilip Koh Tong NgeeSenior PartnerMah-Kamariyah & Philip KohVijayam NadarajahPast President of Institute of Internal AuditorsMalaysiaReza GhazaliManaging Director of Korn/Ferry InternationalMalaysiaContent ManagementMazni Ahmad NorilahCommunications and MarketingMuhammad Hafiz MahmoodCreative Designer & PrinterA & S Cetak Sdn. Bhd.(KKDN: PQ1780/3869)Publisher & DistributorMalaysian Directors AcademyPROGRAMME HIGHLIGHTS .............................................17ALUMNI LIST ...................................................................25MALAYSIAN DIRECTORS ACADEMY2

‘Competitive Board: Creating theEntrepreneurial Organisation’From The CEO’s DeskForewOrdWelcome to MINDA’s 8th issue of BoardView.To stimulate corporate entrepreneurship within an organisation,it is necessary to build an adequate level of entrepreneurialorientation. By doing so, organisations develop more proactive andinnovative stances for proper entrepreneurial development, whereinnovativeness is the key element during the process. Researchindicates that entrepreneurial orientation cannot be treated as aunique element but that each of its dimensions can be separatedfrom and related to the others.Proactive organisations are those that attempt to change competitiveconditions instead of adapting to current conditions. Proactiveorganisations tend to innovate more than those that have defensivestrategies. These proactive organisations seek market opportunitiesand are able to adapt and give a quick, creative answer to a changein their environment by developing more innovation through newideas, patents, products and technological processes. Organisationswhose strategies are more aggressive, competitive and risky arealso more innovativeMINDA has continued with its journey to support the Government’saspiration for the 30% target of women’s participation at thedecision–making level where ten Women Directors OnboardingTraining Programmes (WDOTP) will be conducted in 2012 throughits collaboration with the Ministry of Women, Family and CommunityDevelopment’s agency, NAM Institute for the Empowerment ofWomen (NIEW). To further create the awareness of this new initiative,NIEW together with MINDA has held series of road shows in majorcities across the country. The purpose of this national campaign is tocreate an opportunity to network with the industry business leadersand communicate the business value proportion of the WDOTP. Thisplatform will also be used to engage senior business and thoughtleaders in a discussion on why diversity in the boardroom is the rightthing for businesses.From 7–9 October 2012, MINDA conducted its Directors Forum (DF)2012 in Chiang Mai, Thailand. Themed “Board Rising to the Challengesof Corporate Entrepreneurship”, DF 2012 focused primarily on theroles of Directors to influence the C-Suites and organisations inaddressing corporate entrepreneurial challenges, cultivate the rightcharacteristics that develops corporate entrepreneurship withinthe board and the organisation, develop a competitive strategy andcorporate entrepreneurship for their companies and enhance theeffectiveness of the board through consistent personal developmentand feedback.This issue begins with an article on “GroupGovernance: Directors with Many Hats” byPhilip Koh. In our 2nd article, Vijayam Nadarajahlooks at “The Code on Corporate Governanceand Its Impact on Gender Diversity”. Keepingwith the theme of creating a competitive Board,Reza Ghazali of Korn / Ferry International looksat “What Makes an Exceptional IndependentNon Executive Director?” as well as “TheContinuous Improvement Needed to Createan Exceptional Independent Non ExecutiveDirector”.More news and details on MINDA’s pastprogrammes in 2012 and the upcoming onesin 2013, Book Review and Alumni Members listcan be found in this issue. We hope that youenjoy this issue of BoardView.Dato’ Abdul Aziz Abu BakarMALAYSIAN DIRECTORS ACADEMY 3

FEATURED ARTICLES _ARTICLE ONEGroup Governance:Directors with Many HatsBy Philip Koh Tong NgeeThe Modern corporation is many hydra forms. Complexstructures include pyramidal form, chain –ownershipforms (popular in Asia as entrepreneurs leveraged their ninvestments with outsider investors). There could also benetwork cross –holdings with dominant substantial block.but at another the law holds her accountable to dischargeher duties for the interests of the corporation in which sheholds office irrespective of her being an employee of theappointer. The dualities and overlapping duties coalesceespecially in contested and questionable transactions.MALAYSIAN DIRECTORS ACADEMYBob Tricker has observed that there are two distinctoptions in governance and management structureof conglomerates. One which embraces Group selfgovernancewith each company governing itself subjectto overall group policies. Alternatively group widegovernance where entities are treated as divisions ordepartments of holding company.Group entities abound and directors find that their rolesmay intertwined and that whilst being a director at theholding board level they may be nominated to hold office ina subsidiary or related company to represent, defend andensure that interest of the appointer corporation. It is alsocommon that joint venture company have nominee directorswhich specifically are appointed to ensure that the distinctinterest of the joint venture partners are not negated.The dilemmas confronting a nominee director are acuteand complex. At one level she owes duty to her appointerNominee Directors in MalaysiaThe first time it was recognised in legislation was in thePengurusan Danaharta Nasional Berhad Act 1998, whichconferred a right on the special administrator to appoint aperson on to the board of a defaulting company to overseeand represent the interest of the special administrator.Section 132(1E) of the Companies Act 1965 now recognisesthat there can be a director who has been appointed by virtueof being an employee of a company or as a representative ofa shareholder, employer or debenture holder.Section 132(1E) of the Companies Act 1965 statescategorically that a nominee director “shall act in the bestinterest of the company and in the event of any conflictbetween his duty to act in the best interest of the companyand his duty to his nominator, he shall not subordinate hisduty to act in the best interest of the company to his dutyto his nominator.”4

FEATURED ARTICLES _ARTICLE ONEIn an earlier version of a consultative bill that lead topassage of Companies (Amendment) Act 2007 it was firstproposed by the Companies’ Commission of Malaysia(“CCM”), a nominee director is to owe an exclusiveduty to the company to which he has been appointed.If these wordings had prevailed, nominee directors inMalaysia would have found themselves in an impossibleand untenable role. It is laudable that the CCM wassensible, and took into account representations from themarketplace so that the law on nominees is now put on arealistic footing.In Malaysia, institutions such as Permodalan NasionalBerhad, Khazanah Nasional Berhad and the Employees’Provident Fund have many such appointees who act asnominee directors on boards of corporations in which theyhold substantial interests.Non –Fettering of DiscretionIn one early case Kregor v Hollins (1913) the principle wasestablished that a director cannot fetter his discretion byway of a contract with an outsider. Hollins invested £5, 000and agreed to pay remuneration to Kregor to act as hisnominee director. Hollins defaulted in paying and Kregorsucceeded in a suit when there was a finding of fact that theagreement did not obligate Kregor to put Hollin’s interestabove that of the company. Implicit however to the findingis that if Kregor was to prefer the interest of Hollins tothat of the shareholders and that if there is “ conflict that(Kregor) was to promote (Hollin’s) interests rather thanthe interests of the whole body of shareholders whichwere in conflict ,” then the agreement will be unlawful .Governance & Nominee in Joint ventureA case involving minority oppression which highlighted theplight of nominee was the Scottish Co-operative wholesalesociety ltd v Meyer & Ors [1959] The Scottish Co-operativeWholesale (Co-Op) with Meyer formed a Joint ventureCompany (JVC) to manufacture rayon cloth. The Co–Op isthe majority shareholder and had three nominee directorswhilst Meyer and his partner have the expertise to securelicense and held the balance of board seats. When thecommercial basis for the JVC ceased as licensing was nolonger required the Co-Op embarked on corporate actionsthat effectively transfer the business to another and alsoby stopping supplies of raw materials to the JVC.In the telling words of Lord Denning, “so long as theinterest of the two companies was in harmony, there isno difficulty. The nominee directors could do their dutiesto both companies without embarrassment. But so soonas the interests of the two companies were in conflict,the nominee directors were placed in an impossiblesituation.”The passivity of the nominee directors werejudicially criticised as “they did nothing to defend theinterests of the JVC against the conduct of the Co-Op. TheHouse of Lords held that by subordinating the affairs ofthe JVC to that of the appointer Co-op that the affairs ofthe JVC has been conducted oppressively and remediesare available to the minority .What the case illustrates is that matters concerning JVCbusiness must be dealt with at the JVC level in accordancewith the laws which the JVC is incorporated. JV partnersmust resolve matters between themselves throughnegotiated settlement and if necessary amendment of theJV agreement.Multiple Duties of Nominees RecognisedThe Kuwait Asia Bank holds 40% shares in AICS, aNZ company, which was involved in deposit takingfrom public. Two employees, H and A, of the bank wasappointed to be two of five directors of AICS when AICSwent into liquidation NMLN , as trustees of depositorsbrought action against H and A and also the bank .ThePrivy Council held that whilst there is prima facie caseagainst H and A for negligence a claim against the bank( in absence of bad faith or fraud ) failed. H and A owedthree separate duties. Firstly, to AICS of which they aredirectors. Secondly H and A owed duties of care to NMLNto ensure that honouring of certificates complied with theterms of Trust deed. and finally H and A owed duties theiremployer Bank to exercise reasonable diligence andskill in their performance of their duties as directors ofAICS .both in the scope and nature these are separate anddistinct duties . the appointer bank is not responsible forbreaches of H and A duties to AICS as nay breaches onthe facts do not expose the Bank to vicarious liabilities tocreditors. It was also held that the bank is not a “shadowdirector.”Realism & PracticeIn fact, case law long recognized the amphibious aspectof a nominee director. In the Australian case of Levin vClark (1962), it was argued that the appointments of amortgagee-lender, who had appointed two individuals tothe board of a mortgagor-borrower were invalid, as theywould be acting solely in interests of mortgagee. Thejudge however rejected this argument, and observed that:“to argue that a director particularly appointed for thepurpose of representing the interests of a third party,cannot lawfully act solely in the interests of that party,is in my view to apply the broad principle, governingthe fiduciary duty of directors, to a particular situation,where the breadth of fiduciary duty has been narrowed byagreement amongst the body of shareholders.”However in one Malaysian case, it was made clear thata nominee director cannot completely abdicate his dutiesand seek only to advance the interests of his appointer.In one Malaysian case, the Judge (Dato’ James FoongJ, as he then was) castigated severely the actions of aMALAYSIAN DIRECTORS ACADEMY 5

FEATURED ARTICLES _ARTICLE ONEMALAYSIAN DIRECTORS ACADEMYnominee director as being one which not only did not actin the interests of the company in which he was appointed,but that he completely subordinated that interest to thatof his appointer [Industrial Concrete Products Bhd vConcrete Engineering (2001). The criticised director washeld to account for hiving off the assets of the Company towhich he was appointed without considering the interestof the company. In such a situation the other members ofboard have to exercise utmost vigilance and make carefulevaluations of proposals placed before the Board.If independent advice is needful seek it out. If minutes donot reflect accurately your dissenting views insist upon it inwriting. Failure to do so can cause unnecessary exposureto even criminal sanctions and penalties.Treading SoftlyNominee directors have to tread carefully, and withprudence and discernment. Information that is pricesensitivein subsidiaries cannot be passed on to theirappointers if there is knowledge and intention that it maybe used for trading of the securities. This could fall foul ofthe insider-trading prescriptions of the Capital Markets &Services Act 2007.Any corporate information which may be construable tobe price – sensitive has to be handled with discretion. Anominee director risks exposure to liabilities if at any onetime the information is characterised to be a tip for tippeeand/ or procurement to invest or divest securities. So anominee director has to be prudent and ensures that anyinformation supplied during closed period of dealings isnot utilised by recipient for investment decisions.A GLC director once shared in a workshop that shehandled the dilemma of being accountable to herappointer, Khazanah in a transaction which she as adirector of the company upon which she is appointedmay have an honest opinion that it is in best interest ofthe company. However she made it clear that the decisionof Khazanah as shareholders is reserved and will beexercised independently at the EGM convened. This is adefensible position in law as the vote of a shareholder isa recognized property right and is distinct from that of thenominee director who holds agent s’ duties in multipleand overlapping ways .Related Party Transactions (“RPTs”)This is a complex area filled with land mines for the unwary.Firstly there are core provisions of the Companies Actwhich prohibits and or delineates transactions betweena substantial shareholder and by a director section 133A prohibits loans to person connected with directors.Substantial property transactions cannot be carriedout if the value of the undertaking or property exceeds25 % of total assets of the company ; or the net profitsattributed to the transaction amounts to more than 25 %of the net profit if the company or the value exceeds 25 %of total issued share capital of the company, whicheveris highest . If the company is a listed company then theprescribed value is now aligned to that of the Bursa Listingrequirements.Again it lies on directors to be extra vigilant whenevertransactions are proposed that carries a whiff of RPTs.Listed companies directors must ensure compliance withchapter 10 of the Listing Requirements.How Many Hats Can You Wear?Bob Tricker( 2009) cited Lord Caldecote (Chair of DeltaMetal) advice to Executive Directors in words which alldirectors may give heed to Executive directors have twohats –the hat of the executive and the hat of the director.When you come into my board room I want you to bewearing your director’s hat. Each director you come intomy boardroom I want you to be wearing your director’s hat.Each director is equally responsible with me for directingthe company. You are not there to represent your functionor your divisional company. Nor are you there to defendyour executive performance or bid for resources for yourexecutive activities, you are there to help me govern thecompany overall.”Wise words. Directors must give heed those words. Thepossibility of missing one’s head and wearing wrong hatwill be obviated.[The original version of the above article was published in The STARnewspaper Saturday, 23rd July 2011 issue]Philip Koh is an Adviser to the Malaysian Institute for CorporateGovernance (MICG). Currently he is a member of the Corporate LawReform Steering Committee and Malaysian Institute of AccountantsEthics Committee. Philip co-authored publications such as “The Law ofContract in Malaysia and Singapore – Cases and Commentary” (Oxford)(1979), Chan & Koh’s Company Law (Sweet & Maxwell) and Sheridan &Groves, The Constitution of Malaysia (LexisNexis). He is a member of theEditorial Advisory Board of the Bankers Journal Malaysia; a publicationof the Institute of Banker’s Malaysia and was co-project writer andconsultant on Corporate Governance and Corporate Insolvencies for theWorld Bank, OECD, ADB and ADBI.6

FEATURED ARTICLES _ARTICLE TWOThe Code on CorporateGovernance and Its Impacton Gender DiversityBy Vijayam NadarajahThe Malaysian Code on Corporate Governance (MCCG)2012 (the ‘Code’) advocates the adoption and internalisationof practices that go beyond the minimum prescribedby regulations and Acts in Malaysia. The Code sets outprinciples and specific recommendations on structure andprocesses which companies should adopt in making goodcorporate governance an integral part of their businessdealings and culture. Gender diversity must be a criticalitem on the Human Resource (HR) agenda to fulfil asignificant part of governance practices in the Code.Raising the bar on risk management, accounting and finance,compliance, internal audit and other key managementareas in the Code requires new and strong skills. Toimprove on operational leadership and board diversity,companies must have succession plans to develop andgroom people for positions such as chief executive officersand executive directors, and strong recruitment strategiesto bring women to board-level positions. To do this, HRmust equip themselves with new policies and strategies ongender diversity to reach out beyond the traditional pool ofmale resources to fill positions in key governance areas ofthe business. HR must revisit the search and recruitmentengines so as to tap on women talent from a varied ethnicbackground and age group. Internally, HR must focus onhow to train and ready women for specialised leadershipand male dominant roles.With globalisation and increased competitiveness, genderdiversity is now a global voice, not a male voice – therefore,HR needs to proactively roll programmes out with targets toimprove on women participation at all levels of the business.HR directors must impress upon boards the positiveimpact gender diversity policies can have towards buildinga stronger culture on governance for the companies theyserve.HR directors need strong policies to support and achievehigh levels of sustainable gender diversity in leadershipby having an inclusive culture that fits the industry andorganisation. This, in turn, would contribute to the nationalaim of increasing the number of women at the corporateboard level. An inclusive culture would require moreengagement; it is linked to employee commitment andretention, decreased turnover and an easier recruitmentprocess. A trove of surveys globally has revealed that agender-inclusive workforce results in higher customersatisfaction, greater productivity and increased profitability.It has also found that women are better placed to tap diversemarkets. Women bear strong characteristics necessaryfor good governance – they are meticulous, risk averse,proficient in many trades especially accounting and financeand make better decisions. Consequently, HR directorsshould gear women for leadership positions and ultimatelyoffer a greater talent pool for the appointment of womendirectors to boards.MALAYSIAN DIRECTORS ACADEMY 7

FEATURED ARTICLES _ARTICLE TWOA report by Catalyst on Advancing Women Leaders (July 2008) showed that the number ofwomen on boards is a predictor of the number of women in line management functions of thecompany. Such companies have also positioned themselves for better financial management.Gender Matters, a 2007 McKinsey Report, showed that companies with women in topmanagement outperform those without. McKinsey places gender as a topic firmly on theagenda of all companies as they reckon the “elephant at the table” has become visible in allits glory. HR directors would do well to explore not just ‘how’ but ‘why’ recruiting women ismore difficult and if the policies in place can rectify gender imbalance. They must map thechallenges women must overcome if they are to keep moving up the ladder - this involvesa deep dive into the knowledge base, practices and behaviours that really work for womenexecutives on their journey to the top.The Code requires Boards to render anaccount in their annual reports on whatthe company has done to increase thenumber of women on boards, therebystrengthening a business case for aninclusive and diverse culture. Malaysianpublic listed companies are required tohave women representing thirty percentof directors on boards by 2015. As youcan naturally see, the drive to increasewomen on boards is currently a nationaland board agenda in advanced countries.The business case for gender diversityin the Code is improving performance,being more responsive to markets,achieving better corporate governanceand assessing the widest pool of talents.HR’s role in bringing this to fruition is,therefore, clear.MALAYSIAN DIRECTORS ACADEMY-------------------------------------------------------------------------------------------------Vijayam Nadarajah is now a freelance analyst on corporate governance and financial matters. In this role, she assistscompanies to embrace best corporate practices and highlights weaknesses in governance, internal audit and riskmanagement practices. She also trains in finance, risk, internal audit, corporate governance and insurance matters.Previously, she worked as a financial controller and in other roles in financial institutions. Vijayam is a past presidentof the Institute of Internal Auditors Malaysia.[Reprinted with permission. Copyright HR Matters Magazine. All rights reserved. No part of these article, either textor image may be used or reproduced with express written permission from HR Matters Magazine.8

FEATURED ARTICLES _ARTICLE THREEWhat Makes an Exceptional IndependentNon Executive Director?By Reza GhazaliThe twenty-first century independent non executivedirector (NED) operates in a volatile, complex andunpredictable world. At the same time, the financial crisishas put corporate governance under the microscope to anunprecedented degree. What were previously regardedas standard business practices are being questioned;and governments are insisting on strict regulation toensure that companies become genuinely accountableand transparent. In Malaysia, the days of appointing NEDsbased on who you know is slowly, but surely coming to anend as the selection process should be no different toselecting and assessing a CEO.Pressures mount from every corner. Investorsare demanding that boards and leadership teamsdemonstrate more risk awareness. Customers andemployees want clear policies on climate changeand sustainability. Executive pay has come underattack. Trading and communications now operate on acontinuous cycle forcing companies to react quickly tomarket fluctuations, consumer trends and real-timepolitical developments in order to remain competitive.The breakneck evolution of technology adds fuel to thiscycle and creates both new opportunities and areas ofrisk.Boards must navigate companies through thesechallenges; and as the nature and the complexity ofthe issues shift, it is inevitable that the role of the NEDwill have to change too. In order for NEDs to navigatethe challenges and sensitivities of the role, they mustbe independent minded, but also team players. Theymust have a breadth of experience. They must possesssophisticated communication skills; be self-confidentwithout being dogmatic; be passionate about businessand have clear, creative and visionary judgement.Korn/Ferry International’s latest board researchnevertheless found that this foundation was by no meansstatic. While certain characteristics remain as vitaltoday as they were in the past, others have dramaticallygrown in importance. In order to illustrate this change,characteristics that have remained constant over thetime are categorised as “core”.Core CharacteristicsIndependence, Courage and Integrity. The primarypurpose of an NED is to bring objective scrutiny on behalfof shareholders. To that end, the importance of trueindependence of thought cannot be overstated. The bestNEDs are reflective and thoughtful in their approach, askthe tough questions and offer considered advice based onMALAYSIAN DIRECTORS ACADEMY 9

FEATURED ARTICLES _ARTICLE THREEsound judgement. They maintain integrity, have strongprinciples and insist that the right thing is done for thecompany.Challenging but Supportive. Outstanding NEDs balancetheir strong viewpoints with a supportive style in theboardroom. They are able to probe and challenge theexecutive team on thorny subjects without creatingconflict. While asking the difficult questions is the primarytask, next on the list is offering support and guidanceon problematic issues. Maintaining a constructive anddiplomatic style while building trusting relationships, isimportant.Thoughtful Communication. Exceptional NEDs have astyle of communication that enables them to influencewithout appearing dictatorial. They articulate complexideas clearly and command respect when they speak, buttransfer knowledge to colleagues in a congenial manner.They are good listeners; know when to contribute athought and when to keep quiet. They absorb informationquickly and ask the right questions.Breadth of Experience. Successful NEDs have a breadthof experience that allows them to advise on a range ofcommercial issues. A well-rounded career facilitatesintelligent and strategic advice in the boardroom,irrespective of whether a NED has specific experience inthe area under consideration. A robust commercial andpolitical awareness—alongside skill and perspective—isnecessary in order to give dispassionate and independentadvice. Among the diverse experiences that serve NEDswell is having ridden out challenging situations.team, the culture, the product/ service and the customerbase) can NEDs provide truly valuable strategic advice.Furthermore, the range of issues now debated in theboardroom—reputation management, health, safety,ethics, social responsibility and technology—means thattoday’s NED must also be able to assess the specifics ofthe company in context.Time Commitment. Attending board meetings is justthe foundation; NEDs must be fully engaged and workbetween meetings in order to get to know the business,understand the issues and build relationships withmanagement and shareholders. NEDs should anticipatespending double the amount of time that the companysays is necessary. NEDs who sit on specialist andtechnical committees, such as audit and remuneration,must be prepared to spend even more time on the role.Feedback. The best NEDs are open to personal feedbackand constantly seek to improve both their individualcontribution and the overall effectiveness of the board.Indeed, as more boards are now putting themselvesthrough peer reviews, NEDs have come to expect adviceon ways to have more impact around the board table.The very best regard feedback as a continuous learningprocess.New CharacteristicsThe need for more specialised skill sets stood outas the major change to a NED brief today. While therole still involves testing, evaluating and probing, thecomplexity facing boards has increased and the requiredcompetencies have evolved accordingly.MALAYSIAN DIRECTORS ACADEMYCharacteristics Growing in SignificanceCertain characteristics have however grown in importancesignificantly. The dominant trend is one of increasingcommitment, expertise and professionalism. An NEDrole today is more demanding and time consuming thanever before, requiring a more detailed understanding ofthe business. As NEDs take an increasingly professionalview of their responsibilities, there is a parallel trend ofcontinuous improvement. NEDs are more aware of theirown performance and what they need to do to improvefurther.A Deep Understanding of the Business. To be trulyeffective, today’s NEDs require an acute understandingof the specific company they are advising. Previousindustry or sector experience makes this easier for some,but even those directors must make an effort to learnabout the explicit nuances of the company itself. Only byintimately understanding the business (the managementRisk. Arguably the most significant adjustment to theNED role over the years is that all NEDs must now be wellversed in identifying and managing all forms of risk—operational, financial or reputational. For boards, not onlydoes this involve additional resources and a sharpeningof boundaries around oversight, it necessitates a mindsetthat was not as present before the financial crisis andensuing complex regulation. More important, thesegovernance structures will have to be complementedwith a strong risk culture within an organisation. It willbe the board’s job to lead the creation of any new riskculture; as is often the case; the tone has to be “set fromthe top”.Finance. The general lack of financial expertise on manyboard teams has been repeatedly cited as a contributingfactor to the damage resulting from the global financialcrisis. Boards today are therefore increasingly lookingfor NEDs with strong numeracy skills, who can decipher10

FEATURED ARTICLES _ARTICLE THREEcomplex share option arrangements and who understanddebt and finance issues. Financial literacy goes beyondjust knowing what is going on in the markets; it isabout understanding finance so that effective decisionsabout the business can be reached. With investorsand shareholders locked into a 24/7 trading cycle, it isimperative that businesses react swiftly to market events.Technology. NEDs today must be aware of the profoundimpact technology is having on all areas of commercearound the world. This is true across all sectors, notjust consumer-led industries. The confluence of existingtechnologies (such as mobile networks, the Internet andvideo) and the evolution of new ones (such as materialsciences and biotechnology) are likely to have profoundimplications for the way business is conducted in the nextdecade.Thanks to 24-hour news cycle and the unprecedentedinterconnectedness of global markets, companiescannot afford to react to events at a pace of their ownchoosing. Today’s NEDs must be able to make toughdecisions in time frames that would have been regardedas impossible only a few years ago. For example, afterthe Japanese tsunami and the catastrophic results onJapan’s nuclear plants, Siemens decided to close itsnuclear business within weeks.Arguably the most significant adjustment is for boards torecognize Group the Governance: ever growing importance Directors with of human Many Hats capitaldevelopment! It’s akin to a ship By Philip having Koh the Tong right Captain NgeeAND Date Officers appeared and Crew in STAR: to lead Saturday, and steer 23rd the ship July towards 2011its desired destination.There appears to be greater consensus that boards needmore than retired executives amid their ranks. Currentserving executives and those who are wrangling withinternational business issues in their “day job”, bring amuch-needed currency to boardrooms. Further, boardswith this kind of talent attract others with similar skills.Today’s NEDs must be more engaged, more numerateand more technically competent. They must be betterinformed, even more committed and possess a widerarray of operational knowledge if they are to be equippedto succeed in a role that has become much moredemanding and challenging than ever before.-------------------------------------------------------------Reza Ghazali, Managing Director of Korn/Ferry International in Malaysiabelieves career is nothing more than just calculated and consciouspitstops we make throughout our life journey, so enjoy the ride!One of the crucial effects of new technology, particularlysocial media, is that it shifts power into the hands of theconsumer. If boards are to stay abreast of the nuancesof digital communication platforms, they will need NEDswith specific knowledge and experience to help framestrategic discussion around these areas. Such candidateswill likely come from the younger generations, the socalled“digital natives” who grew up in the era of onlineeverything. Not every board member needs to be anexpert, but this knowledge needs to be represented.What Boards Can DoWhile there are no substitutes for experience, intuitionand a well-rounded executive career, there are certainlyprocedures boards can adopt to enhance the performanceof individual NEDs and hence the effectiveness ofthe board as a whole such as more formal inductionprogrammes, rigorous training and continuous supportfor NEDs, particularly as boards look to diversify andattract a new generation of directors.MALAYSIAN DIRECTORS ACADEMY 11

FEATURED ARTICLES _ARTICLE FOURContinuous Improvement Needed toCreate an Exceptional IndependentNon Executive DirectorBy Reza GhazaliIdentifying negative attributes often provides a useful wayof highlighting positive ones. Among the behaviours thatcan harm, or even derail, a NED are:Big Egos. Boards have no need for NEDs who join to furthera personal agenda, enhance their political currency or whoare motivated by status. That includes pushing politicalcorrectness on issues such as the environment, diversity andcorporate social responsibility. All NEDs should rememberthey are there to represent shareholder interests.Continuous ImprovementHowever deep their skill set, exceptional NEDs are alwaysseeking insight and support to be even better. So what canthe individual do?This has little to do with status. NEDs should selectbusinesses that genuinely excite them and where theybelieve they can offer real value as a board member.Having target areas of contribution—though not a personalagenda—can also make the experience more rewarding.MALAYSIAN DIRECTORS ACADEMYConfrontational Personalities. Individuals who arechallenging for the sake of it—or who believe this is what isexpected of them— make poor NEDs. Dogmatic, inflexibleopinions have no place in the boardroom and those whomust win every argument will find the boardroom anunsatisfying place to be.Lack of Preparedness. NEDs who do not fully committo the role—which includes reading all materials inadvance of the meetings and attending all meetings—willmake little positive impact. Board members also expressirritation with those who display a lack of enthusiasm forthe goings-on, such as by constantly checking messagesor e-mails during meetings.Shallow Comprehension. NEDs who do not make theeffort to fully understand the business - often indicatedby a lack of participation or asking the wrong questionsduring meetings - will be ineffective. Peers quickly divinewho is not clear on the big picture.Disrespect for Boundaries. Failing to understand thedistinctions between the role of the NEDs and that of theexecutive team will cause conflict. Drifting into the realmsof operational decision making, especially during crisissituations, will damage relationships with the CEO andothers in senior management.Prior to joining a new board, NEDs must take “duediligence” seriously. This includes researching not onlythe company, but also individuals on the managementteam and the board itself. Brushing up on the industrysector, attending conferences, reading analyst commentsand networking with other board members can facilitatethis process. Extensive reading—to ensure financial andpolitical literacy—is essential for keeping abreast ofcorporate priorities.There is a critical need to carry on developing knowledgeof the business and building relationships with keyindividuals throughout one’s tenure. Time should bespent on site visits to factories, shops, offices, banks andother places of work. NEDs should talk to all layers ofmanagement, get under the skin of the company and takepart in as many induction meetings or outside courses asthey can.What Boards Can DoIt is dangerous to assume that by the time people arerecruited to boards they are so experienced that trainingwill be redundant. Methodical induction and propertraining programmes, particularly for new NEDs, willimprove the performance of individuals and the board asa whole. Inductions should involve site visits and trainingon the specific legal responsibilities and ethics codes.They should also cover shareholder expectations andthe company’s governance priorities. More technicalaspects—like financial details of audit and remuneration12

FEATURED ARTICLES _ARTICLE FOURcommittees—require formal training by specialists.One-on-one mentoring can be a particularly valuabletraining method for new NEDs, allowing them to buildrelationships while at the same time learning from moreexperienced members of the board.Boards can also enhance NED performance by providingthe necessary administrative support. The quality andtimeliness of board documents—a function of executiveand secretarial support—can greatly affect the quality ofboard discussions and therefore the success of directors.External board reviews can also be a valuable tool inenhancing effectiveness. Members will find personalfeedback received from peers, gathered through anindependently facilitated review, helpful in supportingtheir own personal improvement.The quality of the chairman is also critical to boardroomeffectiveness. The growing complexity of the boardroomagenda, coupled with the changing mix of skills neededon the board requires chairmen to create a culture anddynamic that extracts maximum value from each boardmember. This requires a sophistication of team leadershipand facilitation of a higher order than before. Much careand attention should go into the selection of a chairman, asthis individual will shape the experience and effectivenessof the board and set the tone with management. The use ofhumor should never be underestimated to create the rightcohesive yet productive atmosphere when conductingmeetings to arrive at meaningful decisions.Recruitment ProcessThe prevalence of the “old-boys network” in boardrecruiting remains strong although a move to greaterprofessionalism is underway. Malaysia is no exception,as the use of professional search firms is becomingincreasingly important to detach from the ‘who’ you knowvs. ‘what’ you know that’s so important.Leading boards understand that strategic governancerequires taking as a whole the perspective of a board,identifying gaps in the aggregate set of skills needed toprovide the appropriate level of challenge and support tomanagement and then embarking on a targeted processto recruit those missing skills. This process undoubtedlyhelps build a more balanced team aligned to the company’slong-term strategic goals.This trend towards a more professional recruitmentprocess has expanded in recent years with the use ofconsultants and rigorous assessment methods. Recruitingto meet the new demands of the NED role is essentialand will be hard to do through personal contacts alone.It is critical to identify the issues facing the board in thecoming years and the skills needed to master them—andthen properly briefing the search firm. Having a coherentdefinition of requirements smoothes the process andprevents ambiguity. The time and effort boards put into thecandidate search and selection process will pay dividendsfor years in the boardroom.The problem is that as boards become more targetedand specific in identifying their talent needs, so theidentification of suitable candidates becomes harder.The ideal NED today is the corporate equivalent ofsuperman: they possess wisdom but remain plugged intocurrent developments; they need a breadth of experiencealongside a depth of knowledge; they need a variety ofcomplicated and niche skill sets but also sophisticatedcommunication skills. They also need to have the timeand passion for business to commit to the increasingrange of responsibilities. It’s akin to being not just a ‘jaguhkampong’, but one with global outlook and internationalflair, more so for NEDs within large global MNCs.This broadening of overall business and awareness,combined with the increasing focus on specialised skillsraises a new recruitment challenge: the talent pool willshrink if boards hire only candidates who can tick thisgrowing number of boxes.Broadening the search, marrying different skill sets andencouraging a diversity of knowledge/background aretherefore essential if boards are to truly meet the talentchallenges that lie ahead. The real issue is that boardsare too similar. There is not enough divergence in theexperiences and backgrounds of directors.The stagnation of average board member age largelycomes down to necessary experience, capacity andavoiding conflicts of interest. Current executives often donot have the time to invest in a NED role, especially giventhe increased commitment required.Herein lies a dilemma. On the one hand, the increasingcomplexity and specialisation of boards recommends theinclusion of younger directors at the ‘sharp end’ of theircareers. On the other, this talent pool either lacks thenecessary experience or time to fully engage. This couldlead to the emergence of career NEDs: executives in theirlate forties and early fifties who step off the executivetreadmill to build up a portfolio of NED roles. The increasedaccountability and responsibility associated with being aNED might make this a meatier and more attractive careeroption. However, this will also increase the risk that suchexecutives will quickly lose the currency that made themattractive to boards in the first place. The additional skillsand time commitment demanded of the role also raises thequestion of correct job title. Many NEDs have questioned thetitle “non executive director”, arguing that to be describedas a “non” something is inappropriate.Today more than ever, the case to change the term isbecoming stronger. With NEDs now expected to possessexpertise around an array of complex topics, and asboards become more accountable, “independent director”would perhaps better reflect the greater responsibility andprofessionalism of the role. All said being an independentdirector should not be seen as a precursor to a ‘retirementholiday’ but rather a platform to share one’s wisdom andwealth of experience towards a common goal for saidcompany.MALAYSIAN DIRECTORS ACADEMY 13

BOOK REVIEWLeading the High Energy Culture:What the Best CEOs Do to Createan Atmosphere Where EmployeesFlourishProduct Details• Format: Hardcover, 256pp.• ISBN: 9780071781268• Publisher: McGraw-Hill• Language: English• Pub. Date : March 2, 2012Description from the Publisher:Leaders and managers today are experiencing an “energy crisis” resulting from the failure to engage and inspire theirpeople. Yet, a handful of leaders have found an endless supply of energy to fuel their organisations. They are the oneswho attract the top talent, the most loyal customers, and the public’s imagination. They’re leaders like Zappos’s TonyHsieh and the late Steve Jobs, who’ve built cultures energised at every level to innovate, grow, and succeed. Leadingthe High-Energy Culture: What the Best CEOs Do to Create an Atmosphere Where Employees Flourish is the handbookto powering this kind of workplace with the energy that your workforce already possesses.A change this big starts at the top. David Casullo, a leadership authority and strategic consultant to businesses largeand small, explains the steps for establishing an authentic leadership presence based on your powerful personal truths.Then he shares the secrets for how to communicate your vision in order to create a sense of purpose throughoutyour organisation and beyond, thereby spreading excitement to consumers, investors, and the media. Using his ownexperience, research, and demonstrated results from the leadership development programme that he developed whilehelping transform Raymour & Flanigan from a small regional company to a billion-dollar furniture retail giant, Casullooutlines the specific steps that let you discover and unlock the latent energy in your team.MALAYSIAN DIRECTORS ACADEMYCasullo organises these practices into 10 simple principles, each illustrated and reinforced with firsthand clientinterviews; real-world examples from businesses such as Ford, FedEx, and GE; and thought-provoking interactiveexercises. These principles illuminate the path to creating real employee engagement by giving you an actionablemodel to:• Learn what matters to your organisation and its people, and align your leadership strategy with these truths• Communicate clearly, with purpose and passion, to create a resonant message• Find the leaders in your workforce who give your organisation a competitive advantageLeading the High-Energy Culture uses methods proven to generate results. Beyond the bottom line, however, it willreignite your own commitment and passion by giving you a fresh perspective on how to become an energized leader ofa charged-up organisation.About the AuthorDavid Casullo (Boston, MA) is the president of Bates Communications, a strategic coaching and consulting firmspecialising in helping senior executives in Fortune 500 companies develop powerful communication skills that drivebusiness results.14

UPCOMING PROGRAMMES 2013DIRECTORS FORUM 2013:“BOARD RISING TO THE CHALLENGES OF CORPORATE ENTREPRENEURSHIP”27 – 29 March 2013About Directors Forum 2013Results from the InternationalEntrepreneurship data has shownthat Malaysia’s entrepreneurshipindex in 2010 is at 5%. while Indonesiaand Thailand are at 19% and 20%respectively. Yet, with the rapid andmassive development, Malaysiashould be more entrepreneurialthan their neighbouring countries.Malaysia cannot be entrepreneurial ifMalaysian companies and its peopleare not. The characteristics of theLeaders and Board of Directorsdetermine the climate and level ofentrepreneurship of the companiesand the people they lead.DF 2013 will focus primarily on the roleof Directors to influence the C-Suitesand organisations in addressingcorporate entrepreneurial challenges,cultivate the right characteristics thatdevelops corporate entrepreneurshipwithin the board and the organisation,develop a competitive strategy andcorporate entrepreneurship fortheir companies and enhance theeffectiveness of the board throughconsistent personal development andfeedback.VenueBali, IndonesiaProgramme FeeFee: RM12,000participant/ USD3,500 perThe fee includes programmematerials, accommodation (singleoccupancy room), airport transfers,food and beverage. However, itexcludes airfare which is to be borneby the participant.Programme FacultyBeverly BehanBeverly Behan, the founder of Board Advisorconsults with Boards of Directors in the UnitedStates, Canada and internationally over the pastdecade. She was recently named to the Directorship100 - Directorship magazine’s list of the 100 mostinfluential people in governance and the boardroom.Beverly is a regular columnist for BusinessWeek.com’s The Boardroom and co-author of BuildingBetter Boards: A Blueprint for Effective Governance(Jossey-Bass, 2005), and Jumping Ship: How to navigate your way to a moresatisfying job or career. Her latest book is Great Companies Deserve GreatBoards.Beverly holds both LL.B. and M.B.A. degrees. She is a consultant with MercerDelta’s New York office specialising in corporate governance and executivecompensation. Beverly is a frequent speaker and writer on corporate governanceand executive compensation topics. In addition to 5 years’ experience incorporate management, Beverly practiced law for over 5 years with two majorCanadian firms and serves as a member of the Policy Committee of the Boardof the Royal Ontario Museum.Prof. Datuk Dr. Mohamed AriffProf Datuk Dr Mohamed Ariff, a specialist inInternational Economics, is currently a Professor ofEconomics and Governance at INCEIF (InternationalCentre for Education in Islamic Finance), “The GlobalUniversity of Islamic Finance”. Concurrently, he alsoholds the titles of Professor Emeritus at the Facultyof Economics and Administration (FEA), University ofMalaya, and Distinguished Fellow at the MalaysianInstitute of Economic Research (MIER). He is aCouncil Member at the Quest International University Perak (QIUP) and Advisorto the Malaysian Economic Association.Ariff obtained his B.A. with First Class Honours and M.Ec. from the Universityof Malaya. He completed his Ph.D. programme at the University of Lancaster,England, in 1970, as Commonwealth Scholar. He had a brief stint in the privatesector as the Chief Economist at the United Asian Bank in 1976.EnquiryMr. Devan NairMr. Muhammad Hafiz MahmoodTel : +603-2780 5031Fax : +603-2780 5032Email : info@minda.com.myMALAYSIAN DIRECTORS ACADEMY 15

UPCOMING PROGRAMMES 2013Building High performance Directors 20139 – 13 June 2013About Directors Forum 2013Programme FacultyAs our flagship programme, BHPDis designed to give MalaysianDirectors a platform to share withother Board Members their widerange of experiences in differentcultures, industries and governanceframeworks. This programmetypically caters for experiencedBoard Members who wish to broadentheir knowledge and strengthen theireffectiveness.VenueIndiaProgramme FeeFee: RM25,000 / USD 8,750.00 perparticipantThe fee includes programmematerials, accommodation (singleoccupancy room), food and beverage.However, it excludes airfare which isto be borne by the participant.LEAD FacultyDr. Randel S. CarlockDr. Randel S. Carlock has vast experiences as a CEO, management professor,consultant and psychotherapist. He is the first Berghmans Lhoist ChairedProfessor in Entrepreneurial Leadership and the founding Director of theWendel International Centre for Family Enterprise at INSEAD (Europe, Asiaand Abu Dhabi).Carlock has an MA in education and training, an Executive MBA in strategicmanagement, and a Ph.D from the University of MinnesotaMALAYSIAN DIRECTORS ACADEMYEnquiryMr. Devan NairMr. Muhammad Hafiz MahmoodPhone: +603-2780 5031Email: info@minda.com.myCarlock is author or co-author of several articles, chapters, case studies andbooks. His current book is Family Business on the Couch: A PsychologicalPerspective with Manfred Kets de Vries and Liz Florent (John Wiley and Sons,2007).Carlock has 25 years of management and leadership experience serving as aCEO and Chairman of four companies he created including a NASDAQ listedcorporation. He currently advises corporations and global business familiesspecializing in Asia, Europe and the Middle East.16

PROGRAMME HIGHLIGHTSDIRECTORS FORUM 2012:“BOARD RISING TO THE CHALLENGES OF CORPORATE ENTREPRENEURSHIP”Type: Premier ProgrammeDate: 7 – 9 October 2012Venue: 137 Pillars House, Ching Mai, ThailandDirectors Forum 2012 (DF) was held in Chiang Mai and 10 participants including directors from various GLCsattended the programme. DF was structured to be very topical and this year it focused primarily on the rolesof Directors to influence the C-Suites and organisations in addressing corporate entrepreneurial challenges,cultivate the right characteristics that develops corporate entrepreneurship within the board and the organisation,develop a competitive strategy and corporate entrepreneurship for their companies and enhance the effectivenessof the board through consistent personal development and feedback.Among the topics covered during the two-day programme included Malaysia Towards High Income Economy:The Road that Lies Ahead, How the Board can Stimulate - or Stifle - Corporate Entrepreneurship, PracticalChallenges for Boards of Innovative Companies: Strategy and Risk, Stimulating Corporate EntrepreneurshipThrough Board Oversight of Corporate Culture and CEO Succession Planning, When Innovative and TraditionalCompanies Meet – and Merge, Role of Executive Compensation in Driving Corporate Entrepreneurship and TheRole of Board Effectiveness in Corporate Entrepreneurship for Organisational Success.MALAYSIAN DIRECTORS ACADEMYOver the Fireplace Chat session, a briefing on the possible business ventures in Thailand was shared by H. E.Dato’ Nazirah Hussain, Ambassador of Malaysia to Thailand.18

PROGRAMME HIGHLIGHTSMINDA CORPORATE DIRECTORS ADVANCE PROGRAMME (CDAP): FINANCE FOR NON- FINANCE DIRECTORSType: Customised ProgrammeDate: 2 & 3 May 2012Venue: The Royale Chulan Kuala LumpurMINDA organised its first Corporate Directors Advance Programme (CDAP)- Finance for Non Finance Directors for2012. The session provided a platform for Corporate Directors who have limited financial knowledge to be able to makesound judgment and critical probing questions on matters relating to company’s finances and vital knowledge of thefinancial terms and concepts needed by all directors in today’s business world. Among the topics covered during thetwo-day programme were terminology used by finance directors or accountants, the evaluation and monitoring of thefinancial health of a business using financial ratios, Management Accounts and the Statutory financial reports, the useof sources of financial information and their relative advantages & disadvantages of reading and utilising FinancialStatements, the impact of Financial Reporting Standards as well as Finance related Corporate Governance obligations.The session was attended by 9 directors from various companies.THE INTERNATIONAL DIRECTORS SUMMIT 2012“AWAKENING THE CORPORATE ENTREPRENEURSHIP FOR HIGH INCOME ECONOMY”Date: 21 & 22 May 2012Venue: The Royale Chulan Kuala LumpurThe International Directors Summit (IDS) 2012 was jointly held by the Malaysian Directors Academy (MINDA) and theAsian Strategy & Leadership Inst (ASLI) to address the challenges faced by Company Directors in balancing risks andrewards, entrepreneurship & control and growth & profitability for their organisations. The inaugural Summit forCorporate Directors brought together Company Directors to share and learn from leading practitioners, professionalsand academicians in an environment of likeminded people. The IDS 2012 focused on the changing nature, perception,locus, and generators of risks and rewards and its implications for the business community; specifically in relation towhat Directors needed to know to keep up with the changing nature of risks associated with IT-enabled technologiesand the impact it had on the success of any organisation as Malaysian businesses move in tandem with the EconomicTransformation Programme (ETP).The two-day summit was officiated by the Minister of Finance II, The Hon. Dato’ Seri Ahmad Husni Hanadzlah at TheRoyale Chulan Kuala Lumpur.MALAYSIAN DIRECTORS ACADEMY 19

PROGRAMME HIGHLIGHTSMINDA BREAKFAST TALK - “CORPORATE SUSTAINABILITY: WHY IT IS NECESSARY IN BUILDINGCOMPETETIVE EDGE IN TODAY’S GLOBAL MARKET”Type: Customised ProgrammeDate: 12 June 2012Venue: Sheraton Imperial Kuala Lumpur HotelMINDA organised its first breakfast talk thisyear entitled “Corporate Sustainability: Why ItIs Necessary in Building a Competitive Edge inToday’s Global Market” with Dr Teresa Chahine,a researcher on Sustainable Development andSocial Entrepreneurship from Harvard Universityas the guest speaker. The focus of this BreakfastTalk was on how sustainability measures couldbe incorporated into each institution’s mission tocreate value for both the institution itself as well asthe surrounding society. Dr. Chahine dissected themeaning behind this global buzzword and providedexamples of leading sustainability initiatives aroundthe world. She also demonstrated the financialbenefits of corporate sustainability and discussedthe situations in which corporate goals might notbe aligned with sustainability. The session wasattended by 30 Directors and representatives ofvarious GLCs and multinational companies.LUNCHEON TALK CO-HOSTED BY MINDA, KHAZANAH NASIONAL AND GE INTERNATIONAL INC.“GROWTH THROUGH INNOVATION”Type: Awareness & NetworkingDate: 23 August 2012Venue: Hilton Kuala Lumpur HotelMINDA together with Khazanah Nasional and GE International Inc. jointly hosted a luncheon talk entitled “Growththrough Innovation” with Mr Jeffrey R. Immelt, Chairman and CEO of GE International Inc as the guest speaker.MALAYSIAN DIRECTORS ACADEMYThe focus of this Talk was on how Innovation cansteer a company’s growth, even during toughtimes. While global economic uncertainties stillabound, organizations can use innovation as a toolto adapt to volatility, increase competitivenessand position themselves for top and bottom-linegrowth. Mr Jeff Immelt shared the GE growth story,how the company has advanced transformativechange through Imagination Breakthroughs andbusiness strategies of co-creation with partnersand collaborative leadership.The session was attended by 120 Directors andrepresentatives of various GLCs and multinationalcompanies.20

LUNCHEON TALK CO-HOSTED BY MINDA AND KHAZANAH NASIONAL BERHAD“BUILDING A WINNING TEAM: HOW CRUYFF CHANGED THE GAME”Type: Awareness & NetworkingDate: 3 September 2012Venue: Mandarin Oriental Kuala Lumpur HotelPROGRAMME HIGHLIGHTSMINDA together with Khazanah NasionalBerhad jointly hosted a luncheon talkentitled “Building a Winning Team: HowCruyff Changed the Game” with HendrikJohannes Cruijff or more famouslyknown as Johan Cruyff, the former Dutchfootballer as the guest speaker.The focus of this Talk was on the qualityof the human capital, its ability to innovateand create. Personal management is whatproduces results of quality, effectivenessand productivity. The challenge is to dealsuccessfully with changes and attitudesfor a true transformation. Mr Cruyff sharedhis ideas about building a dream team thatis capable of championship performancesin sports and beyond.The session was attended by 100 Directors and representatives of various GLCs and multinational companies with aspecial appearance by Malaysia Football Legend; YBhg Dato’ Soh Chin Aun, YBhg Dato’ Santokh Singh and Mr WongChun Wah.WOMEN DIRECTORS ONBOARDING TRAINING PROGRAMME (WDOTP) SERIES 2Type: Customised ProgrammeDate: 10 - 12 July 2012Venue: Securities Commission Malaysia, Kuala LumpurMINDA conducted its 2nd WomenDirectors Onboarding Training Programme(WDOTP) comprising a batch of 16 womenparticipants at the Securities CommissionMalaysia, Kuala Lumpur. The WDOTP isdesigned to prepare potential and qualifiedwomen to fully understand their roles asboard directors. Among the topics coveredduring the three-day programme were TheFiduciary Duties, Roles and Responsibilitiesof Corporate Directors as stipulated in theCompany’s Act, The Corporate Governanceof company directors as best practices,Financial Language in the Boardroomand Various board roles vis a vis theorganisation and stakeholders. The programme was facilitated by faculty members from Mr Philip Koh, Ms MargaretChan, Mr Vincent Loh and YBhg Dato’ Aziz Abu Bakar.Over the panel discussion, a briefing on the responsibilities of a corporate director was shared by YBhg Datuk Dr SyedMuhamad Syed Abdul Kadir, Chairman of CIMB Islamic Bank Berhad and Encik Abdul Rahim Abdul Hamid, IndependentNon Executive Director of PROTON Holdings Berhad. The discussion was moderated by Dato’ Abdul Aziz bin Abu Bakar,CEO of MINDA.MALAYSIAN DIRECTORS ACADEMY 21

PROGRAMME HIGHLIGHTSWOMEN DIRECTORS ONBOARDING TRAINING PROGRAMME (WDOTP) SERIES 3Type: Customised ProgrammeDate: 24 - 26 July 2012Venue: Securities Commission Malaysia, Kuala LumpurMINDA conducted its 3rd Women Directors OnboardingTraining Programme (WDOTP) comprising a batch of16 women participants at the Securities CommissionMalaysia, Kuala Lumpur. The WDOTP is designed toprepare potential and qualified women to fully understandtheir roles as board directors. Among the topics coveredduring the three-day programme were The FiduciaryDuties, Roles and Responsibilities of Corporate Directorsas stipulated in the Company’s Act, The CorporateGovernance of company directors as best practices,Financial Language in the Boardroom and Various boardroles vis a vis the organisation and stakeholders. Theprogramme was facilitated by faculty members from Companies Commission of Malaysia, Mr Philip Koh, Ms VijayamNadarajah, Mr Vincent Loh and YBhg Dato’ Aziz Abu Bakar.Over the panel discussion, a briefing on the responsibilities of a corporate director was shared by YBhg Dato’ Saw ChooBoon, Director of RHB Capital Berhad and YBhgDato’ Latifah Merican Cheong, Advisor, Chairman’s Office, SecuritiesCommission Malaysia. The discussion was moderated by Dato’ Abdul Aziz bin Abu Bakar, CEO of MINDA.WOMEN DIRECTORS ONBOARDING TRAINING PROGRAMME (WDOTP) SERIES 4Type: Customised ProgrammeDate: 11 - 13 September 2012Venue: Securities Commission Malaysia, Kuala LumpurMALAYSIAN DIRECTORS ACADEMYMINDA conducted its 4th WomenDirectors Onboarding TrainingProgramme (WDOTP) comprisinga batch of 16 women participantsat the Securities CommissionMalaysia, Kuala Lumpur. TheWDOTP is designed to preparepotential and qualified womento fully understand their rolesas board directors. Amongthe topics covered during thethree-day programme wereThe Fiduciary Duties, Roles andResponsibilities of CorporateDirectors as stipulated in theCompany’s Act, The CorporateGovernance of company directorsas best practices, Financial Language in the Boardroom and Various board roles vis a vis the organisation andstakeholders. The programme was facilitated by faculty members from Companies Commission of Malaysia, Mr PaulW. Chan, Ms Vijayam Nadarajah, Mr Vincent Loh and YBhg Dato’ Aziz Abu Bakar.Over the panel discussion, a briefing on the responsibilities of a corporate director was shared by YBhg Tan Sri Datuk (Dr)Rafiah Salim, Director, NAM Institute for the Empowerment of Women and YBhg Datuk Hamzah Kassim, Co-Founderand Group Managing Director, The IA Group. The discussion was moderated by Dato’ Abdul Aziz bin Abu Bakar, CEO ofMINDA.22

PROGRAMME HIGHLIGHTSWOMEN DIRECTORS ONBOARDING TRAINING PROGRAMME (WDOTP) SERIES 5Type: Customised ProgrammeDate: 26 – 28 September 2012Venue: Securities Commission Malaysia, Kuala LumpurMINDA conducted its 5th Women Directors Onboarding Training Programme (WDOTP) at the Securities CommissionMalaysia, Kuala Lumpur. The WDOTP is designed to prepare potential and qualified women to fully understand theirroles as board directors. Among the topics covered during the three-day programme were The Fiduciary Duties, Rolesand Responsibilities of Corporate Directors as stipulated in the Company’s Act, The Corporate Governance of companydirectors as best practices, Financial Language in the Boardroom and Various board roles vis a vis the organisation andstakeholders. The programme was facilitated by faculty members from Companies Commission of Malaysia, Mr PhilipKoh, Ms Vijayam Nadarajah, Mr Vincent Loh and YBhg Dato’ Aziz Abu Bakar.Over the panel discussion, a briefing on the responsibilities of a corporate director was shared by YBhg Datin MehaSivamohan, Principal Consultant, First Principles Sdn Bhd and Mr. David Lau Nai Pek, Independent Non-ExecutiveDirector, Axiata Group Berhad. The discussion was moderated by Dato’ Abdul Aziz bin Abu Bakar, CEO of MINDA.WOMEN DIRECTORS ONBOARDING TRAINING PROGRAMME (WDOTP) SERIES 6Type: Customised ProgrammeDate: 9 - 11 October 2012Venue: Seri Pacific Kuala Lumpur Hotel, Kuala LumpurMINDA conducted its 6th Women DirectorsOnboarding Training Programme (WDOTP)at the Seri Pacific Kuala Lumpur Hotel,Kuala Lumpur. The WDOTP is designedto prepare potential and qualifiedwomen to fully understand their rolesas board directors. Among the topicscovered during the three-day programmewere The Fiduciary Duties, Roles andResponsibilities of Corporate Directorsas stipulated in the Company’s Act,The Corporate Governance of companydirectors as best practices, FinancialLanguage in the Boardroom and Variousboard roles vis a vis the organisation andstakeholders. The programme was facilitated by faculty members from Companies Commission of Malaysia, Mr PhilipKoh, Ms Vijayam Nadarajah, Mr Vincent Loh and YBhg Dato’ Aziz Abu Bakar.Over the panel discussion, a briefing on the responsibilities of a corporate director was shared by YBhg Datin MehaSivamohan, Principal Consultant, First Principles Sdn Bhd and Mr Zaiviji Ismail, Non-Independent Non-ExecutiveDirector, UEM Group Berhad. The discussion was moderated by Dato’ Abdul Aziz bin Abu Bakar, CEO of MINDA.MALAYSIAN DIRECTORS ACADEMY 23

PROGRAMME HIGHLIGHTSWOMEN DIRECTORS ONBOARDING TRAINING PROGRAMME (WDOTP) SERIES 7Type: Customised ProgrammeDate: 30 October – 1 November2012Venue: Securities Commission Malaysia, Kuala LumpurMINDA conducted its 7th WomenDirectors Onboarding TrainingProgramme (WDOTP) at theSecurities Commission Malaysia,Kuala Lumpur. The WDOTP isdesigned to prepare potential andqualified women to fully understandtheir roles as board directors.Among the topics covered duringthe three-day programme wereThe Fiduciary Duties, Roles andResponsibilities of CorporateDirectors as stipulated in theCompany’s Act, The CorporateGovernance of company directorsas best practices, FinancialLanguage in the Boardroom and Various board roles vis a vis the organisation and stakeholders. The programme wasfacilitated by faculty members from Companies Commission of Malaysia, Mr Philip Koh, Ms Vijayam Nadarajah, MrVincent Loh and YBhg Dato’ Aziz Abu Bakar.Over the panel discussion, a briefing on the responsibilities of a corporate director was shared by YBhg Tan Sri Dato’Mohd Sheriff Mohd Kassim, Chairman, PLUS Malaysia Berhad and Ms. Rita Benoy Bushon, Chief Executive Officer,Minority Shareholder Watchdog Group (MSWG). The discussion was moderated by Dato’ Abdul Aziz bin Abu Bakar, CEOof MINDA.WOMEN DIRECTORS ONBOARDING TRAINING PROGRAMME (WDOTP) SERIES 8Type: Customised ProgrammeDate: 6 – 8 November2012Venue: Securities Commission Malaysia, Kuala LumpurMALAYSIAN DIRECTORS ACADEMYMINDA conducted its 8th Women Directors Onboarding Training Programme (WDOTP) at the Securities CommissionMalaysia, Kuala Lumpur. The WDOTP is designed to prepare potential and qualified women to fully understand theirroles as board directors. Among the topics covered during the three-day programme were The Fiduciary Duties, Rolesand Responsibilities of Corporate Directors as stipulated in the Company’s Act, The Corporate Governance of companydirectors as best practices, Financial Language in the Boardroom and Various board roles vis a vis the organisation andstakeholders. The programme was facilitated by faculty members from Companies Commission of Malaysia, Mr PhilipKoh, Ms Vijayam Nadarajah, Mr Vincent Loh and YBhg Dato’ Aziz Abu Bakar.Over the panel discussion, a briefing on the responsibilities of a corporate director was shared by YBhg Dato’ AhmadPardas Senin, Chairman, Malaysian Directors Academy (MINDA) and Ms. Shahnaz Al-Sadat, Former Executive Director,Khazanah Nasional Berhad. The discussion was moderated by Dato’ Abdul Aziz bin Abu Bakar, CEO of MINDA.24

Alumni ListALUMNI LISTDato’ Abdul Aziz Abu BakarMalaysian Directors Academy (MINDA)DF 2009 / BHPD 2010Abdul Farid AliasKhazanah Nasional BhdKNB ND 07Tuan Haji Abdul Fatah bin HaronAir Kelantan Sdn BhdCDOP 2012Dato’ Dr. Abdul Ghaffar bin RamliComposite Technology Research Malaysia Sdn. BhdCDOP 2010Tan Sri Abdul Halim AliMalaysia Building Society BerhadCF 2007 / DF 2009 / CDOP 2011-2 / BHPD 2011Datuk Abdul Hamid SaidInstitut Jantung NegaraCDOP 2011-1 / CDAP 2011Tuan Haji Abdul Jabbar bin Abdul MajidProton Holdings BerhadBHPD 2007Tuan Haji Abdul Kadir KassimUEM Group Berhad / Cement Industry Malaysia Berhad / TimedotComBHPD 2007 / KNB ND 2008 / BHPD 2010 / CF 2010 / DF 2011/ DF 2012Datuk Abdul Malek Bin Abdul AzizNCB Holdings BerhadDF 2011Dato’ Abdul Manaf bin HashimTenaga Nasional BerhadBHPD 2010Abdul Rahim Bin Abdul HamidProton Holdings BerhadBHPD 2011 / DF 2011Dato‘ Ir. Abdul Rahim bin Abu BakarWestport Holdings Sdn Bhd / Telekom Malaysia Berhad / UEMBuildersKNB ND 2007 / CF 2007 / CF 2008 / KNB ND 2008 / BHPD2010 / DF 2012Abdul Rahman Abdul GhaniMalaysia Airlines SystemBHPD 2007Dato’ Dr Abdul Rozali A. WathoothInstitut Jantung NegaraCDAP 2011Abdullah Abdul HamidKhazanah Nasional Bhd / Malaysian Directors Academy(MINDA)KNB ND 2007 / BHPD 2007 / KNB ND 2008 / CF 2008Tuan Haji Abdullah bin YakubKifaalah Affiat Sdn BhdCDOP 2012Datuk Abdullah Hj KuntomMalaysia Building Society BerhadBHPD 2008Abdullah YusofCement Industries of MalaysiaBHPD 2008Tan Sri Abi Musa Asa’ariLembaga Tabung HajiBHPD 2011Abu Bakar IbrahimKhazanah Nasional BerhadBHPD 2008 / KNB ND 2008Dr Achmad Riawan AminCIMB Islamic Bank BerhadBHPD 2011Adlan Ahmad IskandarWaterfrontDF 2009Dato’ Ahmad Fuuad b. Mohd DahalanMalaysia Airport Holdings BerhadKNB ND 2007 / KNB ND 2008Dato’ Ahmad IbnihajarMalaysian Resources Corporation BerhadDF 2012Ahmad Jafny bin JusohCDOP 2012Dato‘ Ahmad Pardas SeninUEM Group Berhad / Malaysian Directors Academy (MINDA)KNB ND 2007 / CF 2008Dato’Ahmad Razlan Tan Sri Ahmad RazaliSepang International CircuitCDOP 2010 / CDOP 2011-1Datuk Wira Ahmad Rusli JohariePengurusan Aset Air BerhadCDOP 2010Tun Dr Ahmad Sarji Abdul HamidPermodalan Nasional BerhadCF 2007Ahmad Shahizam ShariffKhazanah Nasional BerhadKNB ND 2008Tan Sri Datuk Dr Ahmad Tajuddin AliUEM World BerhadKNB ND 2007 / CF 2007 / KNB ND 2008Ahmad Tajuddin CarrimPROTON Holdings BerhadDF 2011Amiruddin AzaharMalaysia Venture Capital Management Bhd (MAVCAP),CDAP 2011Amirudin Abd RahmanPengurusan Aset Air BerhadCDOP 2011 - 3Amirul Fares ZahirKhazanah Nasional BhdKNB ND 2007Amrish Hari NarayananEMRAIL Sdn BhdBHPD 2012Andrew Lo Kian NyanEmployee Provident FundsBHPD 2007Anne AbrahamLeadWomen Sdn BhdWDOTP 2012 - Series 1Anuar bin Mohd HassanMalaysian Reinsurance BerhadBHPD 2008Dato’ Anwar bin Haji @ AjiFaber Group BerhadCF 2008 / KNB ND 2008Dato’ Anwarrudin Ahamad OsmanUEM Builders BerhadBHPD 2007Tan Sri Datuk Dr Aris OthmanMalaysia Airport Holdings BerhadCF 2007Arlida AriffIskandar Investment BerhadDF 2009Auzir Mohd YaacobPerbadanan Nasional BerhadCDOP 2011-1Aziema OthmanTeknologi Park Malaysia Corporation Sdn BhdCDAP 2011Dato’ Aziuddin AhmadValueCap Sdn BhdBHPD 2008Azizah Hanum Hj Md TamatKhazanah Nasional BerhadCDOP 2011 - 2Datuk Dr Azizan Abdul RahmanTH Properties Sdn BhdCF 2010Tan Sri Dato’ Sri Azizan AriffinBoustead Penang Shipyard Sdn BhdBHPD 2012Tan Sri Azlan ZainolMalaysia Resources Corporation BerhadCF 2007Datuk Azzat bin KamaluddinAxiata Group BerhadDF 2012Dato’ Hj Badri Hj MasriASTRO All Asia Networks plcKNB ND 2007 / KNB ND 2008Tan Sri Bashir Ahmad bin Abdul MajidMalaysia Airport Holdings BerhadBHPD 2008Datuk Bazlan bin OsmanTelekom Malaysia BerhadBHPD 2007Behara Venkata Rama SubbuProton Holdings BerhadBHPD 2011Burhanuddin Hilmi bin HarunComposite Technology Research Malaysia Sdn. BhdCDOP 2010Che Abdullah bin Mat NawiKelantan Biotech Corporation Sdn BhdCDOP 2012Tuan Haji Che Pee bin SamsudinAmanah Raya BerhadCDOP 2011 - 2Cindy Tan Ler ChinMalaysia Building Society BerhadDF 2011Dato’ Daud bin TahirPerbadanan Nasional BerhadCDOP 2011 - 2David Lau Nai PekAxiata Group BerhadDF 2011Datuk Dell Akhbar Khan Hyder KhanSyarikat Prasarana Negara BerhadCDOP 2011-1Eddy Rashdan bin Pir MohdSepang International CircuitCDOP 2010 / CDOP 2011-1Elakumari KantilalKhazanah Nasional BhdKNB ND 2007 / KNB ND 2008Enita Azlina bin OsmanKhazanah Nasional BerhadKNB ND 2008Faisal @ Pisal bin Abdul GhaniComposite Technology Research Malaysia Sdn. BhdCDOP 2010Fauzi bin MohamadPMBK Az-Zahab Sdn BhdCDOP 2012Fazlur Rahman EbrahimSecurities CommissionCF 2010Datuk Francis Tan Leh KiahSecurities Commission MalaysiaBHPD 2011Dato’ Fuad bin JaafarTenaga Nasional BerhadBHPD 2007Tan Sri Ghazzali Sheikh Abdul KhalidAxiata Group BerhadBHPD 2011Dato’ Gumuri HussainSecurities CommissionDF 2011Dato’Hafsah HashimSME Corporation MalaysiaWDOTP 2012 - Series 1Tan Sri Dato’ Seri Haidar bin Mohamed NorBumiputra-Commerce Holdings Berhad / CIMB BerhadCF 2007 / CF 2008Tan Sri Dato’ Hari Narayanan a/l GovindasamyTenaga Nasional BerhadBHPD 2012MALAYSIAN DIRECTORS ACADEMY 25

ALUMNI LISTHartini Mohd NasirInstitut Jantung NegaraCDAP 2011Kenneth ShenAxiata Group BerhadDF 2012Michelle LimKhazanah Nasional BerhadKNB ND 2008Tan Sri Hasmah AbdullahPricewaterhouseCoopersWDOTP 2012 - Series 1Khairil Anuar AbdullahApollo Hospitals Enterprise LimitedKNB ND 2007Datuk Mohaiyani binti ShamsudinMaybankDF 2011Tengku Dato’ Seri Hasmuddin Tengku OthmanInstitut Jantung NegaraCDAP 2011Tuan Haji Khairuddin AhmadRHB Bank BerhadBHPD 2007Prof Dr Mohamad Hanapi bin MohamadKelantan Golden Trade Sdn BhdCDOP 2012MALAYSIAN DIRECTORS ACADEMYHasnah OmarSecurities CommissionWDOTP 2012 - Series 1Hasni Zarina Mohamed KhanTouch ‘N’ Go Sdn BhdWDOTP 2012 - Series 1Hassan JaafarPLUS Expressway BhdKNB ND 2007 / KNB ND 2008 / DF 2009 / DF 2011Hazzelina HassanMalaysia Venture Capital Management BerhadCDOP 2011-1 / CDAP 2011Hilmi bin HassanKTM BerhadCDOP 2011 - 2Hiroyuki KudoCIMB GroupDF 2009Hisham Zainal MokhtarKhazanah Nasional BerhadBHPD 2010Ibrahim bin AwangPermodalan Nasional BerhadDF 2011Ibrahim MarsidiTelekom Malaysia BerhadDF 2012Idham bin IsmailKhazanah Nasional BerhadKNB ND 2008Dato’ Ikmal Hijaz HashimFaber Group BerhadBHPD 2010 / CF 2010Laksamana Tan Sri Dato’ Seri (B) Ilyas Hj DinPerbadanan Hal Ehwal Bekas Angkatan TenteraCF 2010Ismael Fariz AliKhazanah Nasional BerhadBHPD 2007Ismail bin KamaruddinSME BankCDOP 2011-1Izlan bin IzhabMalaysia Airport Holdings BerhadKNB ND 2007Jacqueline FrancisAJA EQS Certification Malaysia Sdn BhdWDOTP 2012 - Series 1Jamela binti Mohd SyedKeretapi Tanah Melayu BerhadCDOP 2010Jamilah HashimKhazanah Nasional BhdKNB ND 2007 / KNB ND 2008Johan bin AbdullahBIMB Holdings BerhadBHPD 2010Datuk Johar Bin Che MatProton Holdings BerhadBHPD 2011Tan SriK. RavindranPLUS Expressway BerhadDF 2009Dato’ Kalsom binti Abdul RahmanChemical Company of Malaysia BerhadBHPD 2010 / DF 2011Datuk Kamarul Zaman Md IsaInstitut Jantung NegaraCDAP 2011Dr. Kamarulzaman Mohamed ZinKhazanah Nasional BerhadBHPD 2008 / KNB ND 2008Tuan Haji Khalily bin KadirCDOP 2012Kiran JeyabalanWDOTP 2012 - Series 1Dato’Latifah Merican CheongSecurities CommissionWDOTP 2012 - Series 1Lau Tiang HuaMalaysia Building Society BerhadBHPD 2007Tan Sri Dato’ Lau Yin PinTenaga Nasional BerhadCF 2008Tan Sri Leo MoggieTenaga Nasional BerhadCF 2007Dato’ Lim Kheng GuanTelekom Malaysia BerhadBHPD 2007Lim Yuk HuaPenang Port Sdn BhdCDOP 2010Datin Linda Ngiam Pick NgohStar Publications (Malaysia) BerhadWDOTP 2012 - Series 1Tan Sri Dato’ Lodin Wok KamaruddinBoustead Holdings BerhadCF 2008Loh Lee SoonMaybank Asset Management Sdn BhdDF 2012Loh Wai YeeKhazanah Nasional BerhadBHPD 2010Mah Lai HengKPJ Healthcare BerhadWDOTP 2012 - Series 1Mahadzir Bin AzizanSyarikat Takaful Malaysia BerhadDF 2011Mahbob bin AbdullahTH Plantations BerhadCF 2010Maheswari KanniahK & N Kenanga Holdings BerhadWDOTP 2012 - Series 1Mansor bin SallehAmanah Raya BerhadCDOP 2011-1Laksamana Madya Datuk Mat Rabi Abu SamahLangkawi Tuna Corporation BerhadKNB ND 2007May Quah Bee FongKhazanah Nasional BerhadKNB ND 2008Md Ali Md DewalPT Bank Lippo TbkKNB ND 2007 / CF 2007Laksamana (B) Tan Sri Dato’ Sri Md Anwar Md NorLembaga Tabung Angkatan TenteraCF 2007Tan Sri Md Nor Md YusofBumiputra-Commerce Holdings BerhadKNB ND 2007Datin Meha SivamohanFirst Principles Sdn. Bhd.WDOTP 2012 - Series 1Michael Jude FernandesKhazanah Nasional BerhadDF 2009 / BHPD 2011Dato’ Dr Mohamad Hashim Ahmad TajudinChemical Company of Malaysia BerhadBHPD 2007 / CF 2008Tan Sri Dato’ Prof Dr. Mohamad Taha ArifInstitut Jantung NegaraCDOP 2011-1Datuk Dr Mohamed Arif NunSilterra Malaysia Sdn BhdKNB ND 2007 / CF 2008 / KNB ND 2008Dato’ Mohamed Azman YahyaMalaysian Airline System BerhadKNB ND 2007 / CF 2008Dato’ Mohamed Hassan Md KamilSyarikat Takaful Malaysia BerhadDF 2011Tan Sri Datuk Mohamed Khatib bin Abdul HamidPantai Holdings BerhadKNB ND 2007 / CF 2007 / BHPD 2008 / CF 2008 / KNB ND2008Mohamed Nor Bin Abdul HamidEtiqa Takaful BerhadBHPD 2011Datuk Mohamed Zain bin Mohamed YusofFaber Group BerhadBHPD 2008 / BHPD 2012Dato’ Mohammad Zainal ShaariKhazanah Nasional BhdKNB ND 2007Mohan RajasooriaKhazanah Nasional BhdKNB ND 2007Dato’ Mohd Ali Abd SamadPerbadanan Nasional BerhadCDOP 2011-1Dato Mohd Ali bin Abd SamadPerbadanan Nasional BerhadCDOP 2012Dato’ Mohd Azlan HashimProton Holdings Berhad / Employee Provident FundCF 2007 / BHPD 2010Mohd Izani AshariKhazanah Nasional BerhadDF 2009 / BHPD 2010Mohd Nadziruddin Mohd BasriKhazanah Nasional BhdKNB ND 2007 / BHPD 2008Dato’ Sri Mohd Nadzmi Bin Mohd SallehProton Holdings BerhadBHPD 2011Mohd Rafik Shah MohamadLangkawi Tuna Corporation BerhadKNB ND 2007Tuan Haji Mohd Sabri bin AbdullahPMBK Sawit Sdn Bhd, Kelantan Golden Trade Sdn BhdCDOP 2012Tan Sri Dato‘ Mohd Sheriff bin Mohd KassimPLUS Expressway BhdKNB ND 2007 KNB ND 2008, CF 2008 / DF 2012Dato’ Mohd Shukri HussinBumiputra-Commerce Holdings BerhadCF 2008Mohd Yahaya Abdul MajidSME BankCDOP 2011 - 2Mohd Yusof HussianBumiputra-Commerce Holdings BerhadBHPD 2007Tan Sri Dato’ Hj Mohd Zuki Hj KamaluddinIsland & Peninsular BhdCF 200726

ALUMNI LISTIr. Dr. Muhamad Fuad bin AbdullahIsland & Peninsular BhdBHPD 2008Tan Sri Datuk Dr. Muhammad Rais Abdul KarimMalaysian Directors Academy (MINDA)CF 2008 / CF 2010 / DF 2011Tan Sri Dato’ Ir Muhd Radzi Hj MansorTelekom Malaysia BerhadCF 2007Ir Hj Mustafa bin SallehAir Kelantan Sdn BhdCDOP 2012Dato’ Nasarudin HashimTechnology Park Malaysia Corporation Sdn. BhdCDOP 2010Nasution MohamedPenerbangan Nasional BhdKNB ND 2007Tunku Datuk Nazihah Tunku Mohd RusFormer Ambassador and SUHAKAM CommissionerWDOTP 2012 - Series 1Ng Chih KayeAgrobankCDOP 2011 - 2Nik Mahadi bin Nik MahmoodKelantan Golden Trade Sdn BhdCDOP 2012Nik Mohd Alimin bin Nik Mohd AlwiCDOP 2012Nik Najib HusainEXIM BankCDOP 2011 - 3Nik Roslini binti Raja IsmailMinistry of FinanceCDOP 2011 - 3Dato’ Noorizah binti Hj. Abd HamidPLUS Expressway BerhadDF 2009Prof Dr Hjh Noraini IdrisUniversiti Pendidikan Sultan IdrisWDOTP 2012 - Series 1Noreen Abdul RashidNoreen Abdul RashidWDOTP 2012 - Series 1Prof. Datuk Dr Norma bt MansorUniversity of MalayaWDOTP 2012 - Series 1Oh Kim SunPharmaniaga BhdCF 2008Ong King HowKhazanah Nasional BerhadKNB ND 2008Osman bin IsmailPermodalan Nasional BerhadDF 2011Dato’ Othman JusohTH Technologies Sdn BhdCF 2010Puasa OsmanFaber Group BerhadDF 2012Tan Sri Datuk Dr Rafiah SalimNAM Institute for the Empowerment of Women (NIEW)DF 2011Prof. Dato’ Dr. Rahmah MohamedUKM Technology Sdn BhdWDOTP 2012 - Series 1Tan Sri Rainer AlthoffProton Holdings BerhadBHPD 2011Tan Sri Raja Arshad Raja Tun UdaAsia Capital Reinsurence Sdn BhdKNB ND 2007 / CF 2007 / KNB ND 2008Rashidah Mohd SiesBahagian Pelaburan, MKD dan PenswataanCDAP 2011Rashidah Mohd SiesAgrobankCDOP 2011 - 2Haji Richard George Azlan AbasTheta Edge BerhadDF 2011Ronnie Kok Lai HuatTIME dotCom BerhadDF 2011Datuk Ir. Rosaline GanendraMinconsult Sdn BhdWDOTP 2012 - Series 1Dato’ Rosdi bin MahmudComposite Technology Research Malaysia Sdn. BhdCDOP 2011 - 2Rosenah Mohd HassanSelat Tebrau Sdn. Bhd.KNB ND 2008Dr Roslan A. GhaffarMalaysia Resources Corporation BerhadBHPD 2007Dato’ Rosli SharifFaber Group BerhadBHPD 2008Puan Hajah Rozaida OmarLembaga Tabung HajiWDOTP 2012 - Series 1Rozana MakhzanBiotrophics Malaysia BerhadKNB ND 2008Tuan Haji Rusdi bin AbdullahCDOP 2012Datin Ruzaina Wan HanifAgrobankCDOP 2011 - 2Tan Sri Samsudin OsmanBIMB Holdings BerhadCF 2007 / BHDP 2012Dr Sarinder KumariPerformance Management and Delivery Unit (PEMANDU)WDOTP 2012 - Series 1Selvarajoo A/L ManikamKeretapi Tanah Melayu BerhadCDAP 2011Selvarajoo a/l ManikamKeretapi Tanah Melayu BerhadCDOP 2010Puan Sri Datin Seri Chin Chew LinFarlim Group (Malaysia) BerhadWDOTP 2012 - Series 1Shahazwan HarrisKhazanah Nasional BhdKNB ND 2007Shahnaz Al-Sadat binti Abdul MohseinKhazanah Nasional Bhd / UEM GroupKNB ND 2007 / DF 2009 / BHPD 2010Dr Shahridan Faiez Mohideen Abdul KaderKhazanah Nasional BerhadKNB ND 2007Shahril Anwar Mohd YunosKumpulan Modal Perdana Sdn. BhdCDOP 2010Sharizad binti Juma’atAmanahraya Investment Management Sdn BhdCDOP 2011-1Shasidharan A/L PrapakaranKhazanah Nasional BerhadKNB ND 2008Stephanie Saw Ai LeeKhazanah Nasional BerhadBHPD 2010Sufyan Abdul JabbarKhazanah Nasional BerhadKNB ND 2008Dato’ Sulaiman Mohd YusofSyarikat Takaful Malaysia BerhadDF 2011 / BHPD 2012Dr Sulochana NairFormer Lecturer of University ofWDOTP 2012 - Series 1Suriaghandi a/l SuppiahKhazanah Nasional BerhadKNB ND 2008Sutekno AhmadbelonPengurusan Aset Air BerhadCDOP 2011 - 3Syed Kamarulzaman bin Dato’ Syed Zainol Khodki ShahabudinPerbadanan Nasional BerhadCDOP 2012Datuk Syed Muhamad bin Syed Abdul KadirBumiputra-Commerce Holdings Berhad / CIMB IslamicBerhadBHPD 2007 / CF 2010Prof. Dato’ Dr. Syed Othman AlhabshiEtiqa Takaful BerhadBHPD 2010Dato’ Syed Saleh Syed Abdul RahmanLembaga Tabung HajiBHPD 2008Dato’ Seri DiRaja Tajol Rosli GhazaliPengurusan Aset Air BerhadCDOP 2010Tan Poh KeatTelekom Malaysia BerhadCF 2007Tuan Haji Zakaria IsmailExport-Import Bank of Malaysia BerhadCDAP 2011YM Dato’ Tunku Mahmood Fawzy Tunku MuhiyiddinKhazanah Nasional BhdKNB ND 2007Wan Hasmah Wan MohdJabatan Pembangunan WanitaWDOTP 2012 - Series 1Dato’ Ir Wan Muhamad bin Wan IbrahimTIME dot ComKNB ND 2007Yacob bin MustafaProkhas Sdn BhdCDOP 2011-1Yeo Keng UnKhazanah Nasional BhdKNB ND 2007Yeoh Keat SengMalaysian Technology Development Corporation Sdn Bhd,Biotrophics Malaysia BerhadKNB ND 2007, KNB ND 2008Yew Wan KupCIMB Group Holdings BerhadBHPD 2011Zainab Mohd SallehDialog Group BerhadWDOTP 2012 - Series 1Datuk Zainal Abidin AliasFaber Group BerhadBHPD 2008 / BHPD 2012Dato’ Zainal Azwar bin Zainal AminuddinTH Plantation BerhadBHPD 2008Zaini bin MustaphaCDOP 2012Zaiviji Ismail AbdullahUEM Group BerhadBHPD 2012Datuk Seri Zakaria bin BahariKeretapi Tanah Melayu BerhadCDOP 2010Tuan Haji Zakaria Bin IsmailSyarikat Takaful Malaysia Berhad / Exim BankBHPD 2011 / CDOP 2011 - 3 / DF 2012Maj Gen Dato’ Zulkiflee bin MazlanPerbadanan Hal Ehwal Bekas Angkatan TenteraDF 2011Zuraidah binti HusinCDOP 2012MALAYSIAN DIRECTORS ACADEMY 27

And Our Clients Are....Amanah Raya BerhadAmanahraya Investment Management Sdn BhdBIMB Holdings BerhadBoustead Holdings BerhadBoustead Penang Shipyard Sdn BhdCement Industry Malaysia BerhadChemical Company of Malaysia BerhadCIMB Bank BerhadCIMB Holdings BerhadCIMB Islamic BerhadComposite Technology Resources MalaysiaSdn BhdEmployees Provident FundEMRAIL Sdn BhdEtiqa Takaful BerhadFaber Group BerhadInstitut Jantung NegaraIskandar Investment BerhadIskandar Waterfront DevelopmentIsland & Peninsular BerhadIWK Konsortium Sdn BhdKTM BerhadKhazanah Nasional BerhadKumpulan Modal Perdana Sdn BhdKPJ Seremban Specialist HospitalLembaga Tabung Angkatan TenteraLembaga Tabung HajiMalaysia AirlinesMalaysia Airports Holdings BerhadMalaysia Building Society BerhadMalaysia Venture Capital Management BerhadMalaysian Resources Corporation BerhadMaybank Group BerhadMaybank Asset Management Sdn BhdMinistry of Women, Family and CommunityDevelopmentMinistry of TransportMNRB Holdings BerhadMultimedia Development Corporation BerhadPenang Port Sdn BhdPengurusan Aset Air BerhadPerbadanan Hal Ehwal Bekas Angkatan TenteraPerbadanan Nasional BerhadPermodalan Nasional BerhadPharmaniaga BerhadPLUS Expressways BerhadProkhas Sdn BhdProton Holdings BerhadPT Bank Lipro TbkRHB Bank BerhadSecurities Commision MalaysiaSepang International CircuitSilterra Malaysia Sdn BhdSME BankSyarikat Prasarana Negara BerhadTelekom Malaysia BerhadTenaga Nasional BerhadTH Plantations BerhadTH Properties Sdn BhdTH Technologies Sdn BhdUEM Builders BerhadUEM Group BerhadUEM Land Holdings BerhadValuecap Sdn Bhdwww.minda.com.myThe BoardView newsletter is published bi-annually by Malaysian Directors Academy (MINDA)