Mercury Industries BerhadMercury Industries Berhad

(Stock Code 8192)
Mercury Indsutries Berhad (“MIB”) began back in 29th October 1975 with its core business of trading in automotive paints and refinish products serving the local automotive industry. The Group’s success has culminated in it being listed on the main board of Bursa Malaysia since 1991 with its core business expanding to cover emerging markets such as People’s Republic of China, ASEAN countries, Australia and the Middle East.

Notwithstanding the Group’s success throughout the years, it embarked on a corporate restructuring exercise back in August 2015 to diversify and tap into the construction industry resulting in the disposal of its automotive paints and refinish business thus, evolving its core business to civil & building construction, trading of building materials and services industry serving mainly, property developer clients.  read more

Today, MIB takes on the role of main contractor for medium to large sized projects and performs project management services for its clients with expertise in several fields such as trading in building materials, ID and M&E services.

Our objective is to provide our clients with assurance in our services while executing their projects with clear communication and follow through procedures ensuring client’s interests are always our top priority.

Over the course of MIB’s history via Paramount Bounty Sdn Bhd, the Group has accumulated its expertise in designing and constructing building of different architectures ranging from commercial lots, luxury condominiums, medium cost high rise apartments and landed properties. With the adoption of its new core business and success in delivering projects in excess of RM800 Million, the Group has laid the foundations to be a market leader in the years to come.

Nevertheless, the Group continues to invest in modern business practices and management techniques in order to ensure that it remains at the cutting edge of the construction industry. The Group continues to build on our reputation with its main focus in growing the ability of its business and delivering successfully in new and innovative ways.


VISION


The Group strives to be a respectable building contractor delivering beyond expectations, further enhancing the profile of their clients with superior quality finishing and services beyond expectation.



MISSION


To procure projects at competitive pricing, provide a safe working environment, deliver quality work within the stipulated timeframe and exceeding client’s expectations, while keeping the interest of our stakeholders.

Fazrin Azwar Bin Dato' Md. Nor

Chairman / Senior Independent
Non-Executive Director
Malaysian, Male
Appointed on 19 July 2006

Encik Fazrin Azwar was appointed as an Independent Non-Executive Director of the Company on 19 July 2006. He was subsequently appointed as the Chairman of the Board on 17 August 2006. On 23 May 2007 he was appointed as the Senior Independent Non-Executive Director. He also serves as the Chairman of the Nomination Committee and is a member of the Audit and Remuneration Committees.
He graduated from the University of Malaya with a Bachelor of Law (LLB) Honours Degree in 1990. He is an Advocate and Solicitor and a member of the Malaysian BAR. He is currently the Managing Partner of Messrs Azwar & Associates.
He is also the Independent Non-Executive Chairman of Daya Materials Berhad and an Independent Non-Executive Director of Poh Kong Holdings Berhad and Tong Herr Resources Berhad, all listed on the Main Market of Bursa Malaysia Securities Berhad.
He is also an Independent Non-Executive Director of Times Offset (M) Sdn Bhd and a Non-Executive Director of Kuchinta Group of Companies.
He is a chartered member of The Malaysian Institute of Directors and The Institute of Internal Auditors Malaysia.
He does not have any conflict of interest with the Company nor has he any family relationship with any other Directors and/or major shareholders of the Company. He has not been convicted for any offences, other than traffic offences (if any) within the past five (5) years nor received any public sanction or penalty imposed by the relevant regulatory bodies during the financial year.
He has attended all the five (5) Board meetings held during the financial year ended 31 December 2017.

Dato' Tiong Kwing Hee

Managing Director
Malaysian, Male
Appointed on 7 August 2000

Dato’ Tiong was appointed as an Executive Director of the Company on 7 August 2000. On 20 July 2017, he was re-designated as the Managing Director. He served as a member of the Remuneration Committee of the Company until 27 February 2018.
He obtained a Bachelor of Arts (Hons) majoring in Business Administration from Hanover College, United States of America in 1982 and a Master Degree in Business Economics from Miami University, United States of America in 1983.
He started his career with Sim Lim Holdings Berhad in 1983 as Executive Officer in charge of corporate finance and was promoted to Manager in 1984 and General Manager in 1985. He left Sim Lim Holdings Berhad in 1987 following his venture into the timber industry and became a shareholder cum director of marketing in Wansuria Sdn Bhd. He was a substantial shareholder in London Pacific Ltd, a company listed on the New Zealand Stock Exchange between 1988 and 1994. In 1994, he left the timber industry when he sold off his stake in Wansuria Sdn Bhd. In 1995, he joined D-Systems Pte Ltd, a Singapore based company with exclusive distribution rights of drywall system from United States of America for Asia Pacific region, as the Chief Executive Officer. In 1997, he was head hunted on a two (2) years contract as an Executive Director of a listed company to prepare the said company for a corporate restructuring.
During the course of his career, he has been directly involved in various industrial sectors including corporate finance, financial services, manufacturing, plantations, property, construction, education, leisure, entertainment and mineral resources. He has extensive hands-on experience, knowledge and exposure in international business, corporate planning, restructuring and corporate turnaround.
Dato’ Tiong is also currently the Group Chief Executive Officer / Executive Director of EcoFirst Consolidated Bhd.
Save as disclosed under the ‘Other Information - Material Contracts’ of the Corporate Governance Overview Statement on this Annual Report, he does not have any conflict of interest with the Company nor has he any family relationship with other directors and/ or major shareholder of the Company. He has not been convicted for any offences, other than traffic offences (if any) within the past five (5) years nor received any public sanction or penalty imposed by the relevant regulatory bodies during the financial year.
He has attended all the five (5) Board meetings held during the financial year ended 31 December 2017

Dato’ Ting Heng Peng

Independent Non-Executive Director
Malaysian, Male
Appointed on 20 July 2017

Dato’ Ting was appointed to the Board of the Company on 20 July 2017 and is currently the Chairman of the Remuneration Committee and a member of the Audit and Nomination Committees.
Dato’ Ting graduated from University of Windsor, Ontario, Canada with a Bachelor of Commerce degree (Hons) in 1982. Upon graduation, he went to England where he read law at the University of Essex. Dato’ Ting obtained his Bachelor of Law (Hons) in 1985. Following Dato’ Ting’s admission as a barrister by Lincoln’s Inn, London in 1986, Dato’ Ting came back to Malaysia and was called to the Malaysian Bar in 1987. Dato’ Ting has been in active legal practice as advocate and solicitor since 1987. He is currently the managing partner of Ting Asiah & Co.
Dato’ Ting is also an Independent Non-Executive Director of D.B.E. Gurney Resources Berhad until his resignation on 8 December 2017, Supermax Corporation Berhad as well as CSF Group PLC, a company listed on the London Stock Exchange in Alternative Investment Market.
He does not have any conflict of interest with the Company nor has he any family relationship with other director and/or major shareholders of the Company. He has not been convicted for any offences, other than traffic offences (if any) within the past five (5) years nor received any public sanction or penalty imposed by the relevant regulatory bodies during the financial year.
Subsequent to his appointment to the Board, he has attended the two (2) Board meetings held during the financial year ended 31 December 2017.

Koo Hoong Kwan

Independent Non-Executive Director
Malaysian, Male
Appointed on 19 July 2006

Mr Koo was appointed as an Independent Non-Executive Director of the Company on 19 July 2006. He currently serves as the Chairman of the Audit Committee and is a member of the Nomination and Remuneration Committees of the Company.
He obtained the Degree of Bachelor in Economics (Honours) from the University of Malaya in 1969. He is a Fellow Member of the U.K. Chartered Institute of Management Accountants and is also a member of the Malaysian Institute of Accountants (CA[M]). Additionally, he is a Certified Financial Planner and a Certified Quality Trainer. He commenced his working career as a Statistician in the Department of Statistics in 1969 and subsequently took up accountancy in 1976. He has had a very diverse professional career. Between 1979 and 1982 he worked as an audit senior in an U.K. firm of Chartered Accountants and gained substantial auditing experience covering a wide range of business entities operating in different industries. He extended his auditing experience with a firm of Chartered Accountants in Perth when he moved to Australia in 1983. He subsequently joined a listed group of companies and worked as a Finance Manager, gaining exposure in a wide variety of industries. He later joined a firm of financial consultants as a freelance consultant advising on corporate debt re-structuring strategies.
Upon his return to Malaysia in 1992, he worked as a Financial Controller in a shipping agency. Between 1998 and year 2000 he worked for Pancaran Ikrab Berhad as the Group Financial Controller and later had a short stint with the Company in a similar capacity.
Mr Koo also sits on the board of Benalec Holdings Bhd as an Independent Non-Executive Director.
He does not have any conflict of interest with the Company nor has he any family relationship with other directors and/or major shareholders of the Company. He has not been convicted for any offences, other than traffic offences (if any) within the past five (5) years nor received any public sanction or penalty imposed by the relevant regulatory bodies during the financial year.
He has attended all the five (5) Board meetings held during the financial year ended 31 December 2017.

Our Businesses

Click on the individual company names below to see their details

Construction
Paramount Bounty Sdn Bhd

PBSB was incorporated back on 19th January 2007 as a private limited company, undertaking civil engineering and building construction works with expertise in constructing commercial shop lots, shop offices, buildings & commercial complexes, residential apartments & condominiums and renovation works on hotels. PBSB embarked on their first construction project back in December 2009 with the successful completion of Cova Suites, which comprises of a 5-storey car park podium and 3 tower blocks of 21 – 23 storey consisting of condominium units. Since then, PBSB has grown in leaps and bounds with completed projects in the region of RM800 Million culminating in its acquisition by Mercury Industries Berhad in August 2015, providing a platform for PBSB to undertake larger scale projects.
PBSB is a company registered with CIDB, holding a Grade 7 license which enables it to tender for projects of unlimited contract value in the general building and construction works and civil engineering works however, excluding works requiring technical licences or personnel.

Building Materials
Mercury Building Supplies Sdn Bhd

Mercury Building Supplies Sdn Bhd (f.k.a. Andaman Marketing Sdn Bhd) is the trading arm of MIB group, dealing in building materials with its main objective of supplying quality building materials for construction needs to our clients. MBS is a wholly owned subsidiary of the MIB Group of Companies since its acquisition back in 2017.
As on one of the main suppliers for the Group, MBS supply a variety of products ranging from steel bars & BRC, cement, floor & wall tiles, sanitary ware, ironmongery, plywood, scaffolding equipment and petroleum products at competitive prices for added value to our clients as our products are sourced directly from manufacturers. To date, we have a range of clientele which includes developers, civil contractors, building contractors and infrastructure contractors.
In withstanding changes in the market and competition from other industry players, our pricing strength is determined via our financial capacity, extended support from our manufacturers and management efficiency. MBS’s underlying principal is to ensure competitive prices, quality of products and efficient services towards its clients.

Projects


LIBERTY arc @ Ampang Ukay, Selangor

Client: Pujian Development Sdn Bhd
Status: On-going
Completion: 2019
Contract Sums: RM230 million

  more . .

Liberty Arc @ Ampang Ukay is a commercial development comprising of 1,632 SOHO units to be developed over 3 tower blocks and complemented by 32 retail units, providing residents and the neighbouring vicinity with vibrant & iconic food & beverage and entertainment outlets.
Slated as the 1st phase of its mixed integrated development spanning over 6.5 acres out of a total land area of 87 acres, Liberty Arc @ Ampang Ukay is the first series in a succession of superior-quality residential and commercial offerings with its main objective of transforming Ampang Ukay into a new-age dimension and a popular landmark in its area.
The job scope as the main contractor is to complete the main building works together with its interior design and M&E services coupled with the facilities and amenities consisting of an olympic size swimming pool, 5,000 sq. ft. gymnasium and breathtaking landscape for the benefit of its residents.

Evo Soho Suite @ Bangi,
Selangor

Client: Aturan Prisma Sdn Bhd Status: Completed
Completion: May 2017
Contract Sums: RM130 million

  more . .

PBSB was involved as the main contractor for this prestigious project, being a joint venture between Andaman Group and PKNS (PKNS-Andaman Sdn Bhd) which is the first of its kind integrated development in Bangi town centre consisting of a retail mall measuring 245,784 sq. ft. with 704 units of SOHO’s and service apartments above it.
Amongst the facilities provided are swimming pool, gymnasium and children play area for the convenience of the residents. Completed main building works for a four (4) storey commercial retail lot with one (1) basement carpark, two (2) storey car park podium and two (2) blocks of 22-storeys SOHO & condominium units together with a four (4) storey car park podium.

Summit Batu Pahat,
Johor

Client: Aturan Prisma Sdn Bhd
Status: Completed
Completion: May 2015
Contract Sums: RM11 million

  more . .

The completion of a six (6) storey commercial complex with and eight (8) storey hotel above in Batu Pahat.

Diamond Residence, Phase 2
Serdang, Selangor

Client: Aturan Prisma Sdn Bhd Status: Completed
Completion: May 2015
Contract Sums: RM43 million

  more . .

PBSB was involved as the main contractor for the development of the mixed development comprising shop offices and service apartments in Diamond Residence. The said scope of work includes the construction of two (2) blocks of service apartments ranging from 16 – 17 storeys, a three (3) storey carpark and a floor for general amenities.

Diamond Square, Phase 1
Serdang, Selangor

Client: Aturan Prisma Sdn Bhd Status: Completed
Completion: May 2014
Contract Sums: RM32 million

  more . .

Diamond Square is the first phase of the Diamond Residence development consisting of thirty units (30) of four (4) storey shop-offices with a basement carpark at Serdang Jaya. This said project is the commercial component of the Diamond Residence to complement the residents and the surrounding vicinity.

The Arc @ Cyberjaya


Client: Aturan Prisma Sdn Bhd Status: Completed
Completion: May 2014
Contract Sums: RM161 million

  more . .

PBSB was the main contractor for the aforementioned project having completed works in excess of RM160 Million for the construction of four (4) twenty-eight (28) storey service apartment blocks and a five (5) storey carpark. The number of completed apartment units are 1,000. This said project was completed in 2015 being amongst the largest contracts undertaken by PBSB, adding value to its vicinity which includes existing amenities such as Multimedia and Limkokwing University, Street Mall, Cyberjaya Transport Terminal and Cyberjaya Lake Garden.

Casa Residenza @ Kota Damansara, Selangor

Client: Aturan Prisma Sdn Bhd Status: Completed
Completion: May 2013
Contract Sums: RM96 million

  more . .

Completed main construction works for a thirty-six (36) storey apartment, inclusive of a basement and eight (8) storey car park podium and twenty-six (26) storey hostel apartments. This project upon its completion, is deemed as the tallest building during that time and is within walking distance to Sri KDU, SEGi University College and Tropicana Medical Center.

Cova Square @ Kota Damansara
Selangor

Client: Aturan Prisma Sdn Bhd Status: Completed
Completion: 2011
Contract Sums: RM42 million

  more . .

The completion of this mixed development was back in 2011 with the completion of the initial phase of residential component consisting of three (3) tower blocks ranging from 21 – 23 storeys high, inclusive of a five (5) storey car park podium. Subsequently, the commercial development is the completion of 44 units of four (4) storey shop offices.

Investor Relations

Corporate Governance

The Board Charter sets out the role, composition and responsibilities of the Board of Directors (“the Board”) of MERCURY INDUSTRIES BERHAD (“the Company”) and the key elements of governance principles guiding the business culture and strategic initiatives of the Company. The conduct of the Board is also governed by the Constitution of the Company, a copy of which is located at the registered office of the Company situated at Suite 11.1A, Level 11, Menara Weld, 76 Jalan Raja Chulan, 50200 Kuala Lumpur, Malaysia

PURPOSE OF THE BOARD
The Board has two broad purposes, compliance and performance:

  1.  COMPLIANCE: Conform with Applicable Legal Requirements
  2.  - Legal
       - monitor constitution and regulations
       - comply with applicable laws and requirements, guidelines, code of conduct and business or industry practices
       - comply with Directors’ duties and responsibilities
     - Accountability
       - monitor financials and ensure integrity in financial information
       - safeguard and maintain accountability of assets
  3.  PERFORMANCE: Assist the Company to Perform to Its Best Potential
  4.  - Business Plan and Policy
       - approve business plan and policies, monitor and evaluate them regularly
     - Accountability
       - assess and review overall performance of the Group
       - undertake board evaluation and consider succession planning
       - communicate and disseminate timely and adequate information to stakeholders
       - retain full and effective control over the Company and monitor Management in implementing Board decisions and strategies
     - Public Relations
       - keep stakeholders informed and protect the interests of stakeholders
       - project a strong and positive image of the Company
       - speak with one voice regarding Board decisions
       - provide feedback link on the Company’s website
       - In facilitating interaction between the shareholders and the Company, concerns may be directed to the Senior Independent Non-Executive Director of the Company
     - Risk Management and Internal Control
       - responsible for the Group’s sound system of risk management and internal control;
       - review and ensure its effectiveness, adequacy, competency and integrity through the process of constant monitoring
       - monitor critical and highrisk areas and implementation actions
       - prevent and detect material misstatement and loss
  5.  ROLES AND RESPONSIBILITIES
    1.  The Board has delegated authority for the day-to-day operations and administration of the Group to the Managing Director (“MD”).
    2.  The key functions of the Board are to provide effective leadership and collaborate with the Management team in:
    3.     - articulating the Company’s business plan and policies
          - ensuring appropriate balance of power and authority on the Board
    4.  Monitor the performance of Management team against agreed key performance indicators.
    5.  Review the strategic business plans proposed by the Management team and monitor the achievement of the business plans on a periodic basis.
    6.  Ensure that all significant systems and procedures are in place for the Company to run effectively, efficiently, and meet all legal and contractual requirements.
    7.  Ensure that all significant risks are adequately considered and accounted for by the Management team through implementation of proper system of risk management and internal control.
    8.  Ensure that the Company has appropriate corporate governance structures in place including standards of ethical behaviour and promoting a culture of corporate and social responsibility.
    9.  Determine, establish and review policies, procedures and processes that address risk management, communication channels between stakeholders,
    10.  Conflict of interests involving directors or related parties and applicable compliance issues within the Company.
    11.  Approving and monitoring financial and other reporting of financial and non-financial information to the market, shareholders and other stakeholders.
    12.  In conjunction with the above stated roles, the following matters shall strictly be reserved for the consideration and decision of the Board:
      1.     
      2.  Group Policy Manual
      3.     
      4.  Strategic directions of the Group covering Economic, Environmental and Social Impacts
      5.     
      6.  Annual budget and business plan
      7.     
      8.  Mergers, acquisitions and divestments
      9.     
      10.  Related Party Transactions
      11.     
      12.  Approval of financial results
      13.     
      14.  Declaration of dividends
      15.     
      16.  Risk appetite setting
      17.     
      18.  Appointment of MD and/or executive director(s)
      19.     
      20.  Remuneration package of the MD and other directors
    13.  Establish such Board Committees which will facilitate the more effective discharge of the Board’s roles and responsibilities such as:
    14.     a) Nomination Committee
           The Nomination Committee assists the Board in regard to:
            - Review regularly the Board structure, size and composition and make recommendations to the Board with regard to any appointment, re-elections that are deemed necessary.
            - Review annually the Board’s mix of skills and experience and other qualities including core competencies which non-executive director should bring to the Board.
            - To recommend any Directors’ training needs for continuing development.
            - Recommend to the Board, Directors to fill the seats on Board Committees.
            - Review annually the succession plans for the Senior Management and Board, where appropriate.
            - To formulate, develop, maintain and review criteria to be used for recruitment process, annual assessment of Directors including assessment of independence.
          b) Remuneration Committee
           The Remuneration Committee assists the Board in regard to:
            - Recommend to the Board the framework of MD’s remuneration and the remuneration package for each Executive Director, if any.
            - Recommend to the Board any performance related pay schemes for MD.
            - Review of MD’s scope of service contracts.
            - To consider the appointment of the services of such advisers or consultants as it deems necessary to fulfill its functions.
          c) Audit Committee
           The Audit Committee assists the Board in regard to financial reporting, audit and risk management and internal control, including:
            - Review audit plan and audit report
            - Ensure transparency, integrity and proper disclosure in the quarterly results and financial statements in order to comply with legal and regulatory obligations.
            - Ensure the effectiveness of the Group’s risk management and internal control framework.
            - Oversee the independence of the external and internal auditors.
            - Review any related party transaction and conflict of interest situation that may arise within the Company or Group including any transaction, procedure or course of conduct that raises questions of management integrity.
            - To perform any other functions or duties as may be agreed to by the Committee and the Board.
            - To evaluate and consider the appointment or re-appointment of the external auditor, the audit fee and any questions of resignation or dismissal.
            - To evaluate and consider the appointment or re-appointment of the internal auditor, the internal audit fee and any questions of resignation or dismissal.
    15.  Ensure, through the Board Committees and other such sub-committees as appropriate, compliance obligations and functions are effectively discharged.
    16.  Initiate a performance self-evaluation system to assess the effectiveness of the Board as a whole, the Committees of the Board and the contribution of each individual Director including the chief executive officer and chief financial officer (or any other key management staff in such capacities).
    17.  Arrange for directors to attend training courses, seminars and participate in development programs as the Board deems appropriate.
    18.  Monitor the information needs of the Board and the Board should have unrestricted access to all information, documents and records of the Group which will facilitate informed decisions.
    19.  Ensure suitably qualified and competent Company Secretary is appointed who can support the Board in the effective discharge of its roles and responsibilities.
    20.  Ensure that a suitably qualified public accounting firm is appointed as External Auditor and to review its subsequent re-appointment or replacement.
    21.  Ensure that a suitably qualified and competent risk management firm is appointed as Internal Auditor to review and report on the Group’s risk management and internal control system.
  6.  MEMBERSHIP AND TERM
    1.  The Constitution provides for a maximum of ten (10) directors and a minimum of two (2) directors on the Board.
    2.  The composition of the Board is also subject to the provisions of the Listing Requirements of Bursa Malaysia Securities Berhad in particularly the requirement on number of independent directors.
    3.  Directors are required to disclose to the Board any interest, whether direct or indirect, in any business, transaction or other relationship which could, or could reasonably be perceived to, materially interfere with the Director’s ability to act in the best interests of the Group. All declaration of interest by the Directors must be recorded and documented.
    4.  Membership of the Board shall be disclosed in the annual report including whether a director is independent or not independent. According to the Constitution, each director is subject to re-election every three (3) years.
    5.  The tenure of an independent director shall not exceed a cumulative term of 9 years. After a cumulative term of 9 years, an independent director may continue to serve on the Board as a Non-Independent Director. If the Board intends to retain an Independent Director beyond 9 years, it should provide justification and seek annual shareholders’ approval.
  7. ROLES OF CHAIRMAN, MD AND SENIOR INDEPENDENT DIRECTOR (“SID”)
  8. The roles of the Chairman and MD are strictly separated to ensure that there is a balance of power and authority. The Chairman is responsible for ensuring Board effectiveness and conduct whilst the MD has overall responsibilities for the day to day management of the business, the implementation of the Board policies and decisions and the achievement of performance objectives.

    The Board approves the appointment of a SID to act as an additional safeguard and to serve as a fallback point of contact for investors and shareholders when the normal channel of communication is considered to be inappropriate or inadequate

    1. The Chairman of the Board is responsible for:
      1. overseeing and developing the Company’s business plan;
      2. ensuring operations conform with the Board’s strategic directions, views and corporate policies;
      3. ensure the development and effective performance of the Directors on the Board;
      4. providing leadership to the Board for all aspects of the Board’s roles and responsibilities;
      5. playing a role in the Company’s external relationships with stakeholders;
      6. sets the board agenda and ensures that board members receive complete and accurate information in a timely manner;
      7. leads board meetings and discussions;
      8. encourages active participation and allows dissenting views to be freely expressed;
      9. manages the interface between board and management;
      10. leads the board in establishing and monitoring good corporate governance practices in the company.
    2. The MD is responsible for:
      1. executing the policy direction and operations of the Company
      2. the efficient and effective day-to-day operations of the Group
      3. bringing material issues and other relevant matters to the attention of the Board in an accurate and timely manner
      4. the effective management of the human resources of the Company according to authorized personnel policies and procedures
      5. the facilitating of the communication and understanding between Management and the Board
    3. The SID role includes:
      1. being the contact person between shareholders and other stakeholders in respect of any query or clarification required on any major issue in relation to the financial performance, business and prospects or generally relating to the Group, which may be directed to him
      2. being the contact person for whistle-blowing by any employee or third party in respect of improper act, misconduct, criminal offences or other irregularities within the Group
      3. being an intermediary for other directors when necessary.
  9. BOARD QUALITIES
    1. Culture
    2. The Board actively seeks to have an ‘engaged culture’ which is characterized by transparency and willingness to challenge and change.

    3. Corporate Governance
      1. Believe that effective corporate governance structures encourage the creation of value, through entrepreneurialism, innovation, development and exploration, and provide accountability and control systems commensurate with the risks involved.
      2. The Board should continually ensure that the Company stay abreast of the local and international developments and promote high standards of transparency about the corporate governance practices within the Group.
    4. Gender Equality
    5. The Board does not practice gender discrimination and gives equal opportunity to suitably qualified persons to be appointed to the Board irrespective of their gender. The Company embraces the proposition that women on board would be advantageous to the Company as well as to society at large. The Company remains duty bound to recruit the best available talent, and although the Board does not endorse quotas, it does commit to having representation of women in senior positions in the Company and on the Board.

  10. REPORTING & RECORDS
    1. Proceedings of all Board and Board Committees meetings are minuted and signed by the Chairman of the respective meetings.
    2. Minutes of all Board and Board Committees meetings are circulated to Directors and Committee Members and approved by the Board and Board Committees at each subsequent meeting.
    3. Resolutions are circulated to Directors for approval and execution and once passed, are recorded in the Minutes Book of the Company.
  11. TIME COMMITMENT
  12. Although the Board expects commitment of time by its members to the Company’s affairs, it does not restrict its members from being appointed as a director of other companies. All Directors should notify the Chairman of the Board before accepting a new directorship (in a listed or non-listed company) at least one (1) week prior to such appointment.

  13. SUSTAINABILITY
    1. Succession Planning
    2. The Board ensures that appropriate plans are in place in respect of succession plans including identifying, appointing, training, grooming for replacing Board members and Senior Management of the Group.

    3. Annual Assessment of Directors’ Independence and Tenure
    4. Annual assessment of Directors’ independence against set criteria shall be carried out to ensure that the Independent Directors bring independent and objective judgment to the Board and this is perceived to mitigate risks arising from conflict of interest or undue influence from interested parties. The existence of independent director on the Board by itself does not ensure the exercise of independent and objective judgment as independent judgment can be compromised by among others, familiarity or close relationship with other Board members.
      The Board shall also ensure that the assessment criteria for independence of directors includes tenure of an independent director of which should not exceed a cumulative term of nine (9) years as recommended under the Malaysian Code on Corporate Governance (“MCCG”).

  14. PROCEDURES FOR ASSESSMENT OF BOARD AND INDIVIDUAL DIRECTOR’S PERFORMANCE
    1. Purpose And Responsibility
    2. The Nomination Committee is responsible to develop, maintain and review the criteria to be used in the evaluation process to assess the effectiveness of the Board as a whole, the committees of the Board and the contribution of each individual Director, on an annual basis. The purpose of the evaluation process aims to improve the Board’s effectiveness as a whole.
      The results of this process will assist the Nomination Committee to review, on an annual basis, the required mix of skills and experience and other qualities, including core competencies which Directors should bring to the Board.
      The evaluation guidelines and processes would cover the Board of the Company.

    3. Principles
    4. In formulating the criteria for the evaluation process, the Nomination Committee takes cognizance that the implementation of a successful and constructive evaluation process requires a culture of frankness that encourages ongoing relationships of reciprocity and mutual trust which is essential for self-evaluation whereby strict confidentiality with respect to each Director’s input and feedback is maintained.
      Assessment processes are shaped by many forces, including corporate circumstances and performance and relationships between and among individual Directors. The Board will therefore periodically review assessment practices and criteria to ensure their effectiveness and responsiveness against changing needs, and to ensure their continued applicability and appropriateness.

    5. Process
      1. Assessing Board Effectiveness
      2. The purpose of the Board Evaluation is to assess the processes by which the Board fulfils its responsibilities, including those provided by MCCG. Regardless of whether all or some of these responsibilities have been delegated to Board committees, the responsibilities would form part of the Board Evaluation as the Board is ultimately accountable.
        The aim of the assessment process is for the Board to benchmark its own performance against the expectations set at the beginning of the year or at the last evaluation, and to identify areas for improvement.

      3. Assessing Committee Effectiveness
      4. In line with the assessment of Board effectiveness, an assessment of the Board Committees as a function of the Board should also be carried out to evaluate the effectiveness of the Committees in meeting the objectives for which they were established. Committee members shall assess their role in assisting the Board to fulfil its responsibilities as delegated to the Committee by its Terms of Reference.
        The aim of the assessment is for the Committee to benchmark its own performance against the expectations set at the beginning of the year or at the last evaluation, and to identify areas for improvement.

      5. Assessing Individual Director’s Contributions
      6. The evaluation of individual Directors assists the Directors in maximising their contribution to the governance of the Company through focused discussion, effective planning and achievement of professional performance and development objectives.
        In considering a Director’s contributions to the Board, the Directors and the NC shall consider the following key elements:

        1. Integrity, Commitment and Ethic
        2. Governance
        3. Strategic Perspective
        4. Business Acumen
        5. Judgment and Decision Making
        6. Teamwork
        7. Communication
        8. Leadership
      7. Reporting to the Board
      8. The results of the evaluation processes (Board, Committees and Director) are to be presented by the Chairman of the Nomination Committee or a nominated member of the Committee to the full Board, together with the report on the required mix of skills and experience and other qualities including core competencies which Directors should bring to the Board.

  15. REVIEW AND PUBLICATION OF CHARTER
    1. This Charter shall be reviewed periodically and updated in accordance with the needs of the Company and any new regulations that may have an impact on the discharge of the Board’s duties and responsibilities.
    2. Summary of this Charter is published in the Company’s website www.mercury.com.my.

1. INTRODUCTION
All employees in the Group are encouraged to raise genuine concerns about improprieties in matters of financial reporting, compliance, conflict of interests and other malpractices at the earliest opportunity, and in appropriate ways.
This policy is designed to :
 - Support the Company’s values
 - Enhance the Company’s Code of Conduct
 - Ensure employees can raise concerns without fear of reprisals
 - Provide a transparent and confidential process for dealing with concerns
This policy not only covers possible inappropriateness in matters of financial reporting, but also the following:
 - Fraud
 - Corruption, bribery or blackmail
 - Criminal offences
 - Failure to comply with a legal or regulatory obligation
 - Miscarriage of justice
 - Endangerment of an individual‘s health and safety
 - Concealment of any or a combination of the above
2. PRINCIPLES
The principles underpinning the policy are as follows:
 - All concerns raised will be treated fairly and properly
 - Any individual making the disclosure will retain anonymity unless the individual agrees otherwise
 - The company will ensure that any individual raising a concern is aware of the person (name and designation) who is handling the matter
 - The company will ensure that the whistle-blower will not suffer from any form of reprisals. However, this assurance will not be extended to any employee who maliciously raise a matter which he/she knows is untrue
3. GRIEVANCE PROCEDURES
If any employee believes reasonably and in good faith that a malpractice exists in the work place, the employee should report this to the senior manager. If for any reason, the employee is reluctant to report to any senior manager in the company, he can report the concern to:

      Encik Fazrin Azwar Bin Dato’ Md. Nor
      Tel: 603-2162 8988
      Email: fazrin.azwar@azwarlegal.com

who is the Chairman and the Senior Independent Non-Executive Director who has been assigned by the Board of Directors to be in charge of whistle-blowing.
A whistle-blower’s identity will not be exposed without his/her prior consent. Where the concern cannot be resolved without revealing his/her identity, a dialogue will be carried out with the whistle-blower as to whether or how the matter can proceed.
Decision(s) made on action(s) to be taken on the valid reports received from whistle blower(s) will be documented and where possible, steps will also be implemented to prevent similar incidences arising.

1. DIRECTORS’ CODE OF CONDUCT AND ETHICS
The Board of Directors is guided by the following “Code of Conduct” when exercising the power of office in discharging their duties and responsibilities as directors of the Company
 - A Director must act with integrity, in good faith and in the best interests of the Company and the Group.
 - A Director has a duty to use due care and diligence in exercising the powers of director to discharge his duties and responsibilities.
 - A Director must exercise the powers of office for a proper purpose and in the best interests of the Company and the Group.
 - A Director must recognise his primary responsibility is to the Company’s shareholders but where appropriate, have regard to the interests of all other stakeholders of the Company.
 - A Director must not make improper or unlawful use of information acquired as a Director.
 - A Director must not allow personal interests, or the interest of any associated person, to conflict with the interests of the Company.
 - A Director has an obligation to exercise independence in judgement and actions and to take all reasonable steps to satisfy himself as to the soundness of all decisions taken by the Board of Directors.
 - A Director must not disclose, any confidential information received by him in the course of exercising his duties, without the authorisation of the Company or the person providing the information unless such disclosure is required by law.
 - A Director should not engage in conduct or activities likely to bring disrepute to the Company.
 - A Director has an obligation, at all times, to comply with the spirit of the law and the principles of this Code.

2. COMPANY’S CODE OF CONDUCT AND ETHICS
 - Confidentiality of Information
  We are committed to maintaining a high degree of integrity in all our dealings with our customers, both in terms of business confidentiality, and the protection of all personal information received in the course of our business dealings. We will extend the same standards to all our suppliers and business associates.

 - Ethical Standards
  We are committed to conduct our own business honestly and fairly and expect our customers, suppliers and business associates to do the same. We believe that all our customers, suppliers, business associates and ourselves should benefit from our business collaboration.

  Our relations with all business partners shall be based solely on objective criteria, in particular quality, reliability, competitive prices, as well as compliance with environmental, social and corporate governance standards.

  The Group is strictly committed to fighting any kind of corruption. Therefore, the Group prohibits its employees, agents, and other third parties acting on the Group’s behalf from engaging in any form of bribery. While dealing with business partners or government officials, they must never demand or accept anything of value (e.g. cash, gifts, entertainment or any other personal benefits) which could be construed as an attempt to influence or induce business decisions. Likewise, employees of other companies or government officials must never be promised or granted any personal benefits with the intent to obtain or retain business or to gain any improper advantage for the Group.

  We require all employees to inform their manager if a business partner or governmental official offers or demands for any personal benefits.

 - Duty of Care
  We will ensure that our customers are advised and made aware of the potential health and safety risks involved in applying and using our products and the preventive measures needed to be taken to minimize such risks through our technical assistance and products application trainings. We also believe that our decisions, actions and manufacturing practices should avoid causing any adverse ill effects on our employees, the local and wider environments, and the well-being of the society at large.

 - Conflict of Interest
  We will avoid situations of conflict of interest with our customers in our business dealings. Likewise, we expect all employees of the Group to avoid having conflicts of interest with the Group in their personal dealings.

  Personal relationships or interests must not affect business activities. This means that employees must not create or maintain personal interests, which may pose, or appear to pose, a conflict with the interests of the Group or which might influence or appear to influence their judgment in the performance of their duties. Employees should, for example, avoid any investment, interest, association, or activity that may cause others to doubt their fairness, integrity or ability to perform their duties objectively.

  Employees must disclose any outside activities, financial interest or relationship that may pose a real, potential or perceived conflict of interest. Each employee must inform his/her manager of any existing or potential conflict of interest and seek a solution together with the manager to avoid, or at least minimize, the conflict of interest.

 - Equality and Discrimination
  We always strive to be fair and objective in our decisions and actions. We will ensure that our decisions and actions are never influenced by issues of gender, ethnicity, creed, age or personal disability.

 - Abuse of Power
  Abuse of power includes any abusive behaviour (physical, psychological, sexual or emotional) by a person in a position of authority and trust against someone in a position of vulnerability and/or dependency. Employee who wishes to lodge a complaint about an alleged abusive of power by a staff of the Group should lodge their complaint to her/his line manager (or designated complaint focal point in accordance with Group’s Whistle-Blowing Policy) as soon as possible after she/he becomes aware of the concern.

 - Compliance With Laws and Regulations
  As a responsible corporate citizen, we will abide and comply with all applicable laws and regulations governing our country, our business operations and our status as a public-listed company.
   1. Insider Trading
    An employee may have access to material, non-public information about the Group or the affairs of a third party which, if disclosed, could impact the value of publicly-traded securities, in particular the Company’s share. Insider trading laws prohibit making personal use of such information and/or disclosing it to third parties, including friends or family members. Examples of such non-public information include information relating to intended acquisition, merger or divestment of a substantial part of the Company’s operations and/or undisclosed data on profits.

   2. Money Laundering
    No employee, either alone or in collaboration with third parties, may take measures that violate applicable regulations on money laundering. Where questionable financial transactions involving transfers of cash or cash equivalents are requested, prior review by and approval from the Managing Director is required.

 - Accounting Records and Financial Reporting
  We will ensure that the accounting records fully incorporate and reflect the transactions and activities of the Group and the financial statements comply with the applicable approved reporting standards, so as to give a true and fair view of the financial position of the Group.

 - Complaints and Disciplinary Action
  Violation of this Code of Conduct will not be tolerated and may, in accordance with relevant legislation, lead to internal disciplinary actions, dismissal or even criminal prosecution.
  Every company within the Group has a responsibility to handle and respond to any allegations of misconduct they receive from their stakeholders about their employees in line with their organisational policies and related disciplinary measures. Management of each company should establish proper systems for investigating, recording and dealing with any misconduct.
  Breaches of the Code of Conduct should be reported immediately to senior management and in line with the Group’s Whistle-Blowing Policy.

 - This Code will be published in the Company’s website www.mercury.com.my

The objective of the Sustainability Policy is to plan for the sustainable growth and expansion of the Group business activities for the long term as a responsible corporate citizen, bearing in mind the effects of its activities on its employees, the environment and the communities at large from where it operates.

STRATEGIES FOR SUSTAINABLE GROWTH

  The strategies for sustainable growth can be categorized under the following broad policies:

   a) Production Policy
    - to produce and supply automotive paints and related products of high quality to capture and retain customers for the long term,
    - to ensure that customers’ delivery deadlines are always met,
    - to ensure that all production machinery and equipments are well maintained to prevent unplanned production downtime,
    - to have frequent upgrading of machinery and equipments for productivity gain and product quality improvement,
    - to ensure that workers are adequately trained to operate the machinery and equipments in an efficient and productive manner.

   b) Sales And Marketing Policy
    - to develop a business plan to identify and approach potential high volume dealers/ users,
    - to develop and build good rapport with potential and existing customers through good after-sales support in the area of technical education and training on the specifications and application of the Group’s products to achieve quality finishes on the car paintworks,
    - to have an effective credit evaluation and control process to avoid incurring huge bad debts,
    - to extend sales incentives and other loyalty programs to retain the dealers,
    - to focus on expanding the export market through regular participation in relevant trade fairs and expositions,
    - to provide fast and informative feedback to any overseas enquiry on the Group’s products,
    - to have frequent visits to overseas distributors to understand their market and feedbacks of the Group’s products,
    - to have a competitive pricing strategy as compared to the competitors.

   c) Human Resources Management Policy
    - to have a HR Policy that considers the workforce as a valuable capital asset for the long term growth of the Group,
    - to have a Remuneration Policy that will attract and retain competent employees having the relevant qualifications, skills and experience to grow the business of the Group,
    - to have a Remuneration Policy that will attract and retain competent directors having diverse background, skills and experience to chart the future direction of the Group,

   d) Risk Management Policy
    - to identify all risks associated with the manufacturing operation that may cause interruption or disruption in the production and supply of finished products to the customers and implementing the necessary measures to minimize or reduce such risks;
    - to ensure that all assets are adequately insured against major disasters so that in the event such disasters occur, the Group will be in a position to rebuild quickly,
    - to ensure that they is a strong credit control process to protect the Group from excessive credit risks,
    - to adopt an appropriate gearing level to protect the Group from financial upheaval in the event of a financial crisis in the national or international arena,
    - to ensure proper disposal of toxic waste from the production process by engaging approved contractors licensed by the Dept of Environment to avoid reputational damage to the Company’s image,
    - to have the Group’s relevant trademarks registered in all the countries that the Group is exporting its products to avoid from being prevented from exporting to those countries due to trademark issues,
    - to ensure the health and safety of the workers are adequately protected to reduce the incidence of lost protection days and medical expenses.

Join Us

Do you find MIB exciting, and can imagine sharing your future with us? We’re happy to hear that!
Email your resume to HR today

Project Manager

Responsibilities

  • Lead and manage the project team to complete the assigned project in a timely and cost-effective manner and in line with the safety and quality policies of the company.
  • Coordinate and liaise effectively with consultants and other government authorities in getting necessary approval.
  • Monitor the works carried out by sub-contractors to ensure the works are according to program and conformance to relevant specifications and standards and to the approved designs.
  • Planning and managing project implementation and construction of project works to meet all requirements.
  • To coordinate and liaise with clients, architect, consultant and sub-contractors
  • Requirements

  • Candidate must possess at least a Bachelor’s Degree in Civil Engineering or related field from recognize institution.
  • 8 years and above experience in construction and design of civil engineering projects, particularly high rise and general management including personnel and administration is required (Preferably 5 years in high rise).
  • Good organizational, communication and relationship building skills, resourceful, result-oriented, customer-centric with ability to multi-task.
  • Strong leadership, tact, self-assured, independent, team player and able to work in fastpace environment.
  • Good knowledge of Construction standard operating procedures and proficient in Microsoft Office, Microsoft Project and AUTOCAD.
  • Required Language(s): Bahasa Melayu & English.
  • Quantity Surveyor

    Responsibilities

  • To assist tender/ contract reviews, preparing contracts documents, negotiation with contractors, contracts administration and drafting contractual correspondences.
  • To assist the Contract Manager in the overall QS operation of projects assigned to you (take off, BQ & Material, Tendering & Cost Analysis, Certification & VO)
  • Handling Progress claims and progress payment, have to liaise with Consultants, Quantity Surveyor and Architects and Certification of claims for payment.
  • Requirements

  • Candidate must possess at least a Diploma, Advance/Higher/Graduate Diploma of Quantity Survey or equivalent.
  • Required skill(s): Excel, AutoCad and CostX
  • Required language(s): Bahasa Melayu, English and Mandarin
  • At least 3 year(s) of working experience in the related field is required for this position
  • Finance Manager

    Responsibilities

  • To assist in delivering adequate and timely reporting for BOD or other exceptional reporting (i.e Construction & Trading)
  • Assist in Cash Flow monitoring and management for respective subsidiaries.
  • Assist Management in fund raising for the projects in the respective subsidiaries
  • Preparation of group consolidation reporting and closing activities in accordance with statutory regulatory requirement and applicable to Accounting Standards.
  • Ensure compliance of Group Tax Policies and statutory requirements
  • Assist in Group Tax Planning for respective subsidiaries
  • Ensure compliance to Risk Management policies and standards established by regulators and the Group
  • To implement and established accounting procedures, policies, internal controls, corporate governance and ensure compliance with local statutory requirement at all times.
  • Liaise with internal and external auditors, tax agent solicitors, bankers, company secretary and other professional and regulatory bodies.
  • Driver the implementation of business best practices and process.
  • Any other duties assigned from time to time by the Management/ B.O.D.
  • Requirements

  • Candidate must possess at least a Bachelor’s Degree in Accountancy or professional Qualification in ACCA/CIMA/CPA or equivalent.
  • Good understanding of latest Accounting principles and Financial Standards.
  • Meticulous, proactive and a commitment to perform well and grow with the company.
  • A confident team player with excellent interpersonal & communication skills.
  • High integrity, independent and capable to excel in a fast-paced environment.
  • An application must be willing to work in Seri Kembangan.
  • Experience in Public Listed and Construction company is added advantage.
  • Safety and Health Officer (Green Book Holder)

    Responsibilities

  • Oversees organizational compliance with JKKP, DOSH and CIDB environment, health and safety regulations
  • Ensure a safe workplace environment without risk to health
  • Ensure that all Safety & Health policies, procedures, rules and regulations are adhere to and are regularly reviewed, updated and communicated.
  • Ensure the company meets its statutory obligations in all areas pertaining to safety, health and welfare at work, including statutory training and reporting.
  • Ensure the completion and regular review of risk assessments for all work equipment and operations.
  • Ensure that all accidents are documented, investigated and recommended improvements implemented.
  • Ensure that safety inspections are carried out, fire drills and fire alarms are correctly reported
  • Establish a full programme of documented health & safety inspections, audits and checks.
  • Ensure all agreed action points are completed within deadlines.
  • Keep up date with all aspects of relevant health, safety & welfare at work legislation and communicate relevant changes to the business.
  • Any other reasonable duties which may be required by management from time to time.
  • Requirements

  • Candidate must possess at least Diploma/ Advanced/ Higher/ Graduate Diploma in Engineering (Environment/ Health/ Safety) or equivalent.
  • Registered with Department of Occupational Safety & Health (DOSH) – Green Book Holder
  • Falsework and Scaffolding erector license will be added advantage.
  • At least 2-3 Year(s) of relevant working experience in the construction industry.
  • 1-year contract basis and subject to renewal.