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Change in Audit Committee


Date of change

NameLim Foo Seng
Type of changeRedesignation
Previous PositionMember of Audit Committee
New PositionChairman of Audit Committee
DirectorateIndependent & Non Executive
QualificationsHe is a member of the Malaysian Institute of Certified Public Accountants and a member of the Malaysian Institute of Accountants.From 1989 to 1995, he served in an international accounting firm, Deloitte KassimChan.  
Working experience and occupation From 1995 till 2003, he has worked with Arab-Malaysian Corporation Berhad Group (“Amcorp Group”) where he played a key role in the business & strategic planning, venture capital activities, corporate investments, corporate audit, corporate restructuring, general management and monitoring of portfolio companies involved in various diversified businesses such as retail, mall management, radio broadcasting, point of sales advertisement, bonded warehouse, magazine publication, IT and manufacturing, in his capacity as Associate Director.

He also served as a board member of various portfolio companies of Amcorp Group. He left Amcorp Group in 2003 where his last position with Amcorp Group was Chief Financial Officer of MCM Technologies Berhad, an IT incubator and a subsidiary of Amcorp that was listed on the ACE Market of Bursa Malaysia Securities Berhad in which he played an instrumental role in its initial public offering.

From 2003 to 2010, he held various senior management positions and served as a board member of various established private limited and public listed companies in Malaysia. In 2011, he joined Aivoria Group Sdn Bhd (“Aivoria Group”). Currently, he is the Executive Director, Group Strategic Planning of Aivoria Group focusing in the business strategic planning, human capital management, finance, corporate affairs and information technology areas. Aivoria Group is principally involved in the business segment of the fashion and beauty industry and operates more than 100 retail stores nationwide and regionally under the retail brand names of Elianto, Bonita and Tiamo. 
Directorship of public companies (if any)Nil 
Family relationship with any director and/or major shareholder of the listed issuerNil 
Any conflict of interests that he/she has with the listed issuerNil 
Details of any interest in the securities of the listed issuer or its subsidiariesMr. Lim Foo Seng currently holds 50 Ordinary Shares of RM0.10 each in the Company.  
Composition of Audit Committee (Name and Directorate of members after change)Chairman:-
1. Lim Foo Seng (Independent Non-Executive Director)

1. Wong Soon Woei(Independent Non-Executive Director)
2. Lim Kim Chu (Independent Non-Executive Director)

Announcement Info

Stock Name ASIABIO    
Date Announced25 Sept 2012  
CategoryChange in Audit Committee
Reference NoCK-120919-60385