KUALA LUMPUR: Property player YNH Property Bhd (YPB) has redesignated Khong Kam Hou as the YNH audit committee chairman.
Khong was appointed to the board of directors of YNH as a senior independent non-executive director on March 31, 2023, when he was also made a member of the audit committee, nominating committee, and remuneration committee.
As chairman of the audit committee, Khong will lead the three-member team to assist the board in fulfilling its oversight and fiduciary duties, including assessing the YPB’s processes relating to risks, overseeing financial reporting and evaluating the company’s internal and external audit processes.
“The most immediate and critical task of the audit committee headed by Khong will be to appoint an independent external auditor,” a YNH spokesperson said in a statement.
“Over the past few months, the board has been carefully evaluating several candidates for the role recommended to the independent non-executive directors that make up the audit committee.
“YNH is confident that the external auditor will be appointed very soon after the members of the audit committee have undertaken a thorough and objective assessment,” the spokesperson added.
Khong, who graduated from the University of Malaya with a Bachelor in Economics in 1974, had served in important units within the Inland Revenue Department, namely tax assessment, corporate tax and tax investigation from 1975 to 1991.
He opted out as a senior tax officer in 1992 and started his practice as a licensed tax consultant from 1992 to 2019.
In another development, YPB appointed Lee Zhi Yan as the new independent non-executive director and a member of its audit committee, nominating and remuneration committee.
The company has also re-designated its independent non-executive director,Ching Lee Fong as chairman of the nominating committee.
Lee graduated from Monash University Australia with a Bachelor of Commerce in 2016 and has extensive working experience in Australia and Malaysia.
He spent several years in multinational companies like PricewaterhouseCoopers Plt (Malaysia) and Dutch Lady Milk Industries Bhd.
Lee holds certifications from The Malaysian Institute of Accountants (MIA), The Malaysian Institute of Certified
Public Accountants (MICPA) and Chartered Accountants Australia and New Zealand (CAANZ).
Lee also completed the Summer School Programme with the London School of Economics and Political Science in
the UK.
Meanwhile, Ching, an existing member of the audit committee and remuneration committee, was appointed to the board on March 31, 2023, and has over 23 years of engineering experience in the electrical and electronics industry.
He has worked with multiple multinational companies like Intel Microelectronics, Motorola and Altera on front-end design, verification and system validation.
Currently, he is working on artificial intelligence and RISCV processors with a Hong Kong-based startup company.
“YPB is confident that the breadth and depth of experience and capabilities of the members of its audit, nominating, and
remuneration committees will play an important role in enabling the board and the company to inculcate high standards of corporate governance within the organisation,” the spokesperson said.
