Company Profile
We are a manufacturer of fiberglass reinforced plastic, or FRP, products based in Malaysia. For over 30 years, we have been providing high-quality and durable FRP products to various industries, including, among others, chemical processing, water and wastewater treatment, and power generation.
Our products range from tanks, pipes, ducts, gratings and other custom-made FRP products. We use advanced production technology and equipment and have obtained various certifications, including an ISO 9001:2015 certification from NQA. Our manufacturing capabilities allow us to design and fabricate products that meet the specific needs of our clients, ensuring high-quality and reliable performance.
Corporate History and Structure
We were incorporated as a Cayman Islands exempted company on March 7, 2023. Win-Fung was incorporated in Malaysia on March 28, 1984.
On June 21, 2023, we completed a corporate reorganization pursuant to a share sale and purchase agreement that we entered into with Win-Fung and its shareholders on May 23, 2023. Pursuant to the reorganization, we acquired all of the issued and outstanding equity interests of Win-Fung in exchange for which we issued 22,949,998 ordinary shares to the shareholders of Win-Fung. As a result of this reorganization, Win-Fung became our wholly owned subsidiary and the shareholders of Win-Fung became our shareholders. We do not have any other subsidiaries.
Management Team
1. Chief Executive Officer and Director
Chee Hoong Lew
Mr. Lew has served as our Chief Executive Officer since January 2024 and as a member of our board of directors since our inception in March 2023 and has served as the Managing Director of Win-Fung since 2000. Mr. Lew currently also owns and oversees a number of other businesses, including Win Fung Prop Sdn Bhd, a property investment company, since 2018, Flakeshield Sdn Bhd, a corrosion prevention service provider, since 2018, Eco Consult (M) Sdn Bhd, a management consultancy and trading company, since 2017, Power Connect Pte Ltd, an engineering and consultation services provider, since 2017, Restoran Gardenz Sdn Bhd, a restaurant, since 2022, The Rise Bar & Café Sdn Bhd, a restaurant, since 2022, and Acmos (M) Sdn Bhd, a thermoplastic products manufacturer, since 2020. He graduated from Curtin University in Australia with a Degree in Marketing and Management.
2. Chief Financial Officer
(Charis) Phei Yen Ho
Ms. Ho was appointed as our Chief Financial Officer in September 2024. She brings 14 years of experience in accounting and finance. Ms. Ho started her career as an audit associate at BDO Chartered Accountants in Malaysia in June 2008. From March to May 2009, she was deployed to BDO Tax Services Sdn Bhd in Malaysia to assist clients in filling Malaysia income tax reports. From June 2010 to August 2016, Ms. Ho worked as an audit supervisor at Wu Chiaw Ching & Co. in Singapore. From August 2016 to February 2019, she served as a team leader in the coffeeshop division of Kimly Limited, a public company listed on the Singapore Exchange, overseeing monthly financial closing and preparing consolidated financial reports for 73 coffeeshop outlets. From March 2019 to September 2021, Ms. Ho worked as a finance manager at PP Retail Pte Ltd, a wholly-owned subsidiary of Furniweb Holdings Limited, a public company listed on the Hong Kong Stock Exchange. In this role, she managed monthly financial closing and prepared and submitted financial reports to the head office in Malaysia. From November 2021 to January 2022, Ms. Ho served as a finance manager at MoneyMax Financial Services Ltd., a public company listed on SGX, overseeing monthly financial closing and preparing financial reports for the company’s outlets in Singapore. Ms. Ho received a Bachelor of Commerce in Accounting with honors in 2008 from Universiti Tunku Abdul Rahman in Malaysia.
3. Director
Wah Chee Lim
Mr. Lim was appointed as a member of our board of directors in September 2024. Mr. Lim joined our subsidiary Win-Fung in August 2023 as the business development general manager. Mr. Lim is an experienced engineer with over 20 years of experience in the water and wastewater systems industry. He is skilled in integrating engineering solutions with strategic business management, using data-driven insights to achieve operational excellence and sustainable outcomes. Before joining Win-Fung, he worked at Darco Water Systems Sdn Bhd from July 2003 to July 2023 (including at Darco Systems Sdn Bhd, a wholly-owned subsidiary of Darco Water Systems Sdn Bhd, from July 2003 to June 2009), with his last position being General Manager. From December 2002 to July 2003, he served as a sales engineer at Savechem Sdn Bhd. From July 2001 to November 2002, he was an application engineer at Transwater Cooling Tower. Mr. Lim received a bachelor’s degree in chemical engineering from the University of Putra Malaysia in 2001.
4. Independent Director Nominee & Proposed Chairman, Compensation Committee
Chee Leong Lee
Mr. Lee has been appointed to our board of directors effective automatically upon the effectiveness of the registration statement of which this prospectus forms a part. Mr. Lee is a distinguished Malaysian politician with a prominent career spanning over three decades. He is currently retired and since March 2020, he has served as an independent director of Furniweb Holdings Limited, a company listed on the Stock Exchange of Hong Kong Limited. Mr. Lee also served as an independent director of PRG Holdings Berhad, a company listed on the Main Board of Bursa Malaysia, from August 2013 to June 2014. Over the years, Mr. Lee held several key ministerial positions in the Malaysian government. From 2015 to 2018, he was the Deputy Finance Minister. Prior to that, from 2014 to 2015, he served as the Deputy Minister of International Trade and Industry. From 2010 to 2013, he served as the Deputy Home Minister, focusing on internal security and national safety, and from 2009 to 2010, he served as the Deputy Foreign Minister, where he played a crucial role in shaping Malaysia’s foreign policy and strengthening international relations. In 2008, Mr. Lee was elected as the Member of Parliament for Kampar. Before that, he was a State Legislative Assembly Member, representing the Malim Nawar constituency from 1995 to 2008 and the Tanjong Tualang constituency from 1990 to 1995. Notably, from 1995 to 1999, he served as the Chairman of the Health and Environment Committee in the Perak State Executive Council (Exco). Mr. Lee obtained a Bachelor Honours degree in Accounting and Finance from Bristol Polytechnic, England in 1982.
5. Independent Director Nominee & Proposed Chairman, Audit Committee
Chee Hoong Lim
Mr. Lim has been appointed to our board of directors effective automatically upon the effectiveness of the registration statement of which this prospectus forms a part. Mr. Lim has over 40 years of accounting and audit experience. He currently serves on the boards of the following companies listed on the Main Board of Bursa Malaysia: an independent director of PBS Berhad (formerly known as Pelikan International Corporation Berhad) since June 2019, an independent director of OKA Corporation Berhad since June 2023, and a non-independent non-executive director of PRG Holdings Berhad since May 2023 (he was an independent director of PRG Holdings Berhad from July 2003 to May 2023). Mr. Lim also serves as an independent director of BWYS Group Berhad, a company listed on the ACE Market of Bursa Malaysia since August 2023, and an independent director of Ritamix Global Limited, a public company listed on the Stock Exchange of Hong Kong Limited since April 2020. In November 1997, Mr. Lim established his own audit firm, Messrs Lim Chee Hoong & Company (now known as Messrs CHI-LLTC after admitting several other partners to the firm in January 2001). In December 2001, he left Messrs CHI-LLTC and joined Messrs Lee Teik Swee & Co, an audit firm, where he served as a partner from December 2001 to October 2013. Thereafter, he was a partner of TNL Partners PLT, another audit firm, from June 2020 to December 2022. He has served as the executive director of Lim Tang Tax Services Sdn Bhd, a company providing tax advisory services, since 2005. Mr. Lim’s professional qualifications include membership of the Malaysian Institute of Certified Public Accountants since January 1993, Malaysian Institute of Accountants since July 1993 and Malaysian Institute of Taxation since September 2008. In January 2007, Mr. Lim obtained his Practicing Certificate as a Certified Public Accountant with the Malaysian Institute of Certified Public Accountants. He obtained his Practicing Certificate as a Chartered Accountant with the Malaysian Institute of Accountants to engage in public practice and provision of regulated services such as audit, taxation and liquidation, in December 2010. In November 1980, Mr. Lim completed his Upper Form VI at Han Chiang High School and obtained his Higher School Certificate after passing the University of Cambridge Local Examinations Syndicate in collaboration with the University of Malaya.
6. Independent Director Nominee & Proposed Chairman, Nominating & Governance Committee
Choon Hann Lua
Mr. Lua has been appointed to our board of directors effective automatically upon the effectiveness of the registration statement of which this prospectus forms a part. Mr. Lua started his career as a prosecutor with Attorney General’s Chambers in the Republic of Singapore. With years in legal practice, he gained substantial and broad expertise, knowledge and experience in advising legal matters, among others, those pertaining to corporate affairs, finance and commercial matters. With his professional legal experience, business acumen and commercial know-how, he has been an entrepreneur since 2003, engaging in various business ventures in Malaysia across various sectors, such as the provision of corporate consultancy and solution services and property development. Mr. Lua has substantial experience serving on public companies’ boards. He served as an independent director and chairman of the audit committee of PBS Berhad (formerly known as Pelikan International Corporation Berhad), a company listed on the Main Board of Bursa Malaysia from April 2013 to September 2019. He has held multiple high-level roles at PRG Holdings Berhad, a company listed on the Main Board of Bursa Malaysia, including executive director (November 2013 – April 2016), managing director (April 2016 – May 2019) and group executive vice chairman (May 2019 - present). Mr. Lua has also been an executive director of Furniweb Holdings Limited, a company listed on the Stock Exchange of Hong Kong Limited since November 2013. Mr. Lua holds a Bachelor of Law from the University of Cardiff, United Kingdom.
Our Products
1. FRP Filament Wound and Molded Tanks
2. FRP Thermoplastic Tanks
3. FRP Lining
4. FRP Ducting and Fitting
5. FRP Air Pollution Control Products
6. FRP Custom Made Products
7. FRP Related Services
Malaysia