At A Glance
MAG Holdings Berhad (“MAG” or the “Company” and together with its subsidiaries, the “Group”) is currently an aquaculture-based food producer listed on the ACE Market of Bursa Malaysia Securities Berhad.
MAG, the acronym for “Malaysian Aquaculture Group”, assumed its present name on 7 August 2020 to better reflect its present principal business in aquaculture. MAG was incorporated in Malaysia under the Companies Act 2016 (then the Companies Act 1965) on 20 February 2004 as a private limited company under the name of Key West Global Telecommunications Sdn Bhd and changed its name to Key West Global Telecommunications Berhad when it turned into a public company.
In 2014, the Company changed its name to XingHe Holdings Berhad when the Company completed the acquisition of Supreme Global Group Limited group whose principal operating unit, Henan XingHe Oil and Fat Company Ltd, is a China-based company involved in edible vegetable oil business.
In 2019, the Group reduced its investment in the edible vegetable oil business in China and diversified into prawn aquaculture business in Malaysia. As part of the diversification, the Group acquired the following two sizable prawn aquaculture farms:
(1) Wakuba Farm – a prawn farm with 102 cultivation ponds within a land area of 97.9 hectares in Kg Wakuba, Tawau, Sabah; and
(2) North Cube Farm – a prawn aquaculture farming group with 133 cultivation ponds and a prawn processing plant within a land area of 120.5 hectares in Umas- Umas, Tawau, Sabah.
Both farms are situated along the coastal area in the Western Pacific Ocean, well known for its pristine waters ideal for producing outstanding quality shrimps. The Group cultures mainly vannamei shrimps in a non-pesticidal cured marine ponds as its fresh shrimp product.
The MAG Group today is a leading prawn aquaculture player in Malaysia with a strength of 235 cultivation ponds and a processing plant that is capable of processing the harvests from both North Cube Farm and Wakuba Farm into finished products, serving the needs of international and regional consumers.
Our Mission
Build a Sustainable Organisation by Creating Social Impact and Transform Life of the Community
Group Corporate Structure
Board of Directors
Aged 44, Malaysian, Male
Executive Chairman
Mr Ng Min Lin was appointed as a Non-Independent Non-Executive Director of the Company on 28 January 2011 and was re-designated as an Executive Director on 1 April 2011.
On 24 April 2014, he was re-designated as a Non-Independent Non-Executive Director and on 6 September 2016, he was re-designated as the Senior Independent Director and appointed as Chairman of the Board of Directors. He relinquished his role as the Senior Independent Director on 28 December 2018.
On 31 December 2019, he was re-designated as the Executive Chairman of the Board. He is also the chairman of the Board’s Long-Term Incentive Plan Committee.
Mr Ng spent his early years as an audit associate with KPMG, Penang. Subsequently, he ventured into the corporate world when he became the Corporate Development Manager of a company that manufactures and franchises water vending machines. A year later, he was promoted to Group Finance Director when the company was listed on the PLUS Market (now known as Icap Securities and Derivatives Exchange) in the United Kingdom.
As he looked for greener pastures, Mr Ng established Esabee Biotika Sdn Bhd, a multi-level marketing company which specialises in microalgae. He was the Chief Executive Officer of the company until his resignation in mid-2011.
Mr Ng had also invested into companies involved in sectors such as mining, agriculture and energy. His involvement in these sectors had gained him vast experience in the corporate world.
He is an alumnus of The University of New South Wales, Sydney, Australia, having graduated there in 2002 with a Bachelor of Commerce, majoring in Finance and Accounting.
Currently Mr Ng is also the executive chairman of the board of directors of XL Holdings Berhad.
Mr Ng is the spouse of Ms Wong Jo Ann, the Non-Independent Non-Executive Director of the Company.
Aged 73, Malaysian, Male
Independent Non-Executive Director
Datuk Lim Si Cheng, appointed on 15 July 2021, is an Independent Non-Executive Director. He is
the chairman of the Board’s Remuneration Committee and a member of the Audit and Risk
Management Committee and Nomination Committee.
Datuk Lim began his career as a journalist in 1968. He was the State Assemblyman of Bandar Segamat from 1982 to 1990 and Exco Member of Johor State Government from 1986 to 1990. He served as the Political Secretary to the Minister of Transport of Malaysia from 1990 to 1995. He was elected as the Member of Parliament for Kulai, Johor for 3 consecutive terms from 1995 to 2008. Datuk Lim was the Deputy Speaker of the House of Representative, Parliament Malaysia from 1999 to 2008. He was also a member of the Malaysian Pepper Board from 2008 to 2011.
He is very active in community works of various charitable organisations. Presently, he is a council member of University Tunku Abdul Rahman, trustee of Huaren Education Foundation, trustee of Chang Ming Thien Foundation and a committee member of Malaysia Mental Literacy Movement.
Currently, Datuk Lim is also a board member of Koperasi Jayadiri Malaysia Berhad.
Aged 76 years, Malaysian, Male
Independent Non-Executive Director
Mr Collin Goonting A/L O.S. Goonting, appointed on 16 July 2020, is an Independent Non- Executive Director. He is the chairman of the Board’s Nomination Committee and a member of the Audit and Risk Management Committee and Remuneration Committee.
Mr Goonting was admitted to the Honourable Society of the Inner Temple as a barrister in 1972. He is an Advocate and Solicitor of the High Court of Malaya.
In addition to litigation, Mr Goonting is also active in the corporate and financial sectors, internationally and in Malaysia, since 1972. He has acted as the lead counsel in many high-profile criminal and civil cases for more than 20 years.
In 1991, when Labuan was made an International Offshore Financial Centre by the Malaysian government, Mr Goonting established a branch of his legal firm, Messrs. Collin Goonting & Co, in Labuan to serve international companies setting up offices there. His firm has acted for international offshore banks as well as other foreign companies in financial matters especially in the setting up of offshore companies and special purpose vehicles. He is also active in providing legal services to local offshore banks involving Islamic financial products as well as legal advice in English and international laws to multinational oil corporations involved in offshore drilling in Labuan.
In 2001, he set up a legal firm in Jakarta and was appointed as the legal consultant to a company building geothermal power plants. In addition, his firm also advised on private equity funding, debt restructuring and recovery as well as liquidation to foreign banks and financial institutions in Indonesia. He still provides consulting advice to oil and gas companies in Indonesia.
Aged 46, Malaysian, Male
Independent Non-Executive Director
Mr Yeoh Wooi Kia, appointed on 1 June 2020, is an Independent Non- Executive Director. He is the chairman of the Board’s Audit and Risk Management Committee, a member of the Nomination Committee, Remuneration Committee and Long-Term Incentive Plan Committee.
Mr Yeoh started his career as an audit associate with KPMG Penang in 2001. Subsequently, he worked extensively in various capacities in the corporate world from 2004 to 2014, such as Accountant in Plexus Manufacturing Sdn Bhd and as Unit Manager in Hong Leong Assurance Bhd. He is currently the Business Development Director of AYG Consulting which is engaged in the provision of marketing and general business advisory services, and corporate training solutions to clients from various industries including trading, direct-selling, e-commerce, food and beverages, entertainment and events management.
Mr Yeoh graduated from University of Tasmania in 2000 with a Bachelor of Commerce (Accounting) and has been a member of the Malaysian Institute of Accountants since 2008.
Aged 31, Malaysian, Male
Non-Independent Non-Executive Director
Mr Melvin Lim Chun Woei, appointed on 15 July 2021, is a Non-Independent Non-Executive Director.
Mr. Melvin Lim holds a degree in International Business from University of Leeds, United
Kingdom.
Mr. Melvin Lim has vast experience in marketing and export, food manufacturing,
aquaculture, agriculture and land and building development. He started his career in 2012
as Marketing Manager with Pegagau Food Products Sdn Bhd and Borneo Bina Jaya Sdn
Bhd and progressed to the Marketing Director position. In 2018, he co-founded Borneo
Bina Jaya Sdn Bhd which is involved in the business as land and building developer,
property management and contractor business.
In 2022, Mr. Melvin Lim founded Synergy Travel Sdn Bhd which is involved in tour and
travel businesses and in 2023 founded Hawan Maju Sdn Bhd for hot air ballon activities.
Mr. Melvin Lim presently does not hold directorship in other public companies or listed
corporations.
Mr. Melvin Lim is the son of Mr. Lim Ah Cham, the Aquaculture Farming Advisor.
Aged 45, Malaysian, Male
Independent Non-Executive Director
Mr. Wan Mohd Hazrie bin Wan Mokhtar, appointed on 14 February 2023, is a Independent Non-Executive Director.
Mr. Wan established and operated Xeron (M) Sdn Bhd in 2002 (Xeron) to supply mechanical & electrical instrumentation, providing mechanical maintenance to companies in the oil and gas industry and road, highway & building maintenance services to various local companies including commercial buildings, industrial, hospitality and in other various sectors.
In 2002 until 2007, Mr. Wan involved in supplying of mechanical and electrical instrumentation and mechanical maintenance to companies related to the oil & gas industry.
Mr. Wan has more than 20 years of extensive experience in highway development, property development, oil & gas industry, international commodity trade and has excellent organisational and management skills, inter-personal skills and public relations and active in pursuing new business opportunities & ventures.
Mr. Wan presently does not hold directorship in other public companies or listed corporations.
Aged 45, Malaysian, Female
Non-Independent Non-Executive Director
Ms. Wong Jo Ann, appointed on 31 May 2023, is a Non-Independent Non- Executive Director.
Ms. Wong is a professional auditor with previous experience at PWC, Kuala Lumpur, where she worked in the Consumer Industrial Products Group and was involved in auditing listed companies and their subsidiaries.
In addition to her work at PWC, Ms. Wong has also participated in auditing listed companies and small to medium-sized enterprises with a focus on manufacturing, services, and small and medium-sized businesses at Wong Liu & Partners in Butterworth.
Furthermore, Ms. Wong has worked as a tax associate at Wong Liu Tax (Butterworth) Sdn Bhd, where she handled individual and corporate tax matters.
Ms. Wong experience extends beyond auditing and taxation. She has also served as a Human Resources (HR) and Operations Manager at Esabee Biotika Sdn Bhd, where she was responsible for various HR functions, front office and back-end operations, as well as product management.
Ms. Wong is also a board member of XL Holdings Berhad.
Ms. Wong is the wife of Mr. Ng Min Lin, the Executive Chairman of the Company.
Contact Us
MAG HOLDINGS BERHAD
200401004611 (643114-X)
B-3-12, Gateway Corporate Suites,
Gateway Kiaramas, Jalan Desa Kiara, Mont Kiara,
50480 Kuala Lumpur, Malaysia
Tel: 603-6419 1385
Fax: 603-6419 1386