Yusof Suffian & Co.AF 1894

Chartered Accountants

>info@ysc.com.my>ysuffian@yahoo.com

Email

+(6)03 2288 1172Fax

+(6)03 2284 2842+(6)03 2289 1100

Telephone

8-2, Level 2, Jalan Bangsar Utama 9,Bangsar Utama, 59000 Kuala Lumpur

Address

i) a Member Firm of the Malaysian Institute of Accountants (“MIA”) &

ii) registered with The Ministry of Finance (“MoF”) as Consultant

Status of Registration

17th January 2007 (AF 1894)Date of Registration & Registration No

Yusof Suffian & Co.Firm name

Yusof Suffian & Co. (“YSC”) has a vision to be the most innovative financial consulting and assurance firm in catering the dynamic challenges and needs of the Small & Medium Enterprise (SMEs) market

• YSC aims to be the most enterprising financial consulting firm amongst all of the small to medium assurance firm in Malaysia which sets 3 new benchmarks in the assurance industry.

The solid foundation of YSC is based on the professional and industrial experience of its 5 management-team members.

• Eddy Suffian bin Yusof, C.A (M), B.Acc (Hons) IIUM, aged 35, is the Principal Partner of the firm. He qualified as a Chartered Accountant since year 2000 under the Malaysian Institute of Accountant (MIA). Previously was a Senior Audit Consultant with KPMG (formerly known as KPMG Peat Marwick) for a tenure period of more than 5 years during which had covered clients in all crosses of industries: manufacturing, property development and Information & Communication Technology (“ICT”), be in alll size of businesses: from small to main-board listed companies. During the same tenure, he had also been involved in few Due diligence exercises as well as assisting in a listing exercise.He was subsequently attached as a Finance manager in a local ICT company for 3 years before he pioneered the establishment of Yusof Suffian & Co, then as an accounting firm in year 2005.

• Noor Azman Mohd Jusoh, ACA, Director, age 40, qualified as a Chartered Accountantfrom the Institute of Chartered Accountants in England & Wales (“ICAEW”). He has 14 years of experience in the corporate and finance areas within Malaysia and England covering the ICT, property, hospitality, finance and engineering industries during his tenure of service with the PriceWaterhouseCoopers in Hull and Kuala Lumpur. He currently acts as the Strategic Partner and Concurring Partner for all Due-diligence assignments and on all International subject matters.

• Mohd Nasharudin bin Che Dan, C.A (M), B.Acc (Hons) IIUM, ATTI, ASA, Director, age 34, is a Chartered Accountant under the Malaysian Institute of Accountants (MIA) and an Associate Member of the Australian CPA. His more than 4 years’ audit experience gained from a medium-sized firm and 3 years’ commercial experience in areas of finance and internal audit in two corporate conglomerates had provided him with the edge of an all-rounded knowledge and experience that proved to be an asset to YSC where he acts as the Audit’s Reviewing Director and as the Tax Principal. Beyond the corporate and individual tax compliance subject matters, he also specialises in the more complicated Tax Audit and Tax Investigation.

• Azman bin Muhammad, age 31, is a Chartered Accountant with Malaysian Institute of Accountants (MIA). He has more than 6 years of practice experience in auditing and taxation which cover various industries in Malaysia. He has also an insight into the practice in the commercial industry during his tenure of service as the Finance Manager for a local medium-sized company. He currently manage the whole Audit department for concurring statutory audit jobs as well as special audit jobs such as due diligence.

• Noor Dina bt Ibrahim, age 28 is a graduate in B.Acc from Universiti Kebangsaan Malaysia and will be due for her Chartered in Malaysian Institute of Accountants soon. She lead the Tax Department in the firm for all, compliance and advisory-based assignments. The tax department play an active role alongside the audit department in advising any potential tax issues that arise during the audit as well as during pre-planning stage for an effective tax planning advices and solutions.

The above management team is currently supported by a total number of seven staff comprises of audit seniors and audit assistants.

Sound Industrial knowledge and experience

The core members of our team are highly experienced and skilled in providing assurance and advisory services for various industries in Malaysia. Their in-depth understanding on the industries played a major role in their contributing to improvement ideas for more than just a compliance audit to all of their valued clients. The team profile and audit experience in various industries amongst others as follows:i. Information & Communication Technology (“ICT”);ii. Property & Construction; andiii. Manufacturing & Trading.

Hence, the engagement team has the necessary understanding of the business and experience in the sector in order to address the potential inherent risks.

Pro-active audit

Our audit approach is commercially focused on the significant business and financial processes and the associated inherent risks. We focus on key management controls in place to manage such risks. Our practical audit approach ensures that the audit is completed efficiently and that any significant issues are identified and dealt with at an early stageFundamental to our audit is understanding the issues and challenges facing the Company and the industry in which it operates. The key challenge for the Company lies in increasing its market share in the competitive market and to respond quickly to market trends. Whilst we recognise our knowledge of your business requires further confirmation, we set out below our understanding of some of the currently common issues and challenges both the Company and the industry face.

Common Industry challenges• Increase in global competition require for local players to rise its bar in order to be

competitive;• Increased competition with the shrinking in size and number of government projects; • Inflationary pressure unto raw materials’ price that would cut project’s profit margin.

Common Company challenges• Need to be product-innovative and also marketing-innovative to be competitive in the

global market,• Increased pressure to be price-competitive in order to be competitive in the market; and• Increased importance to secure new accounts to increase or maintain market share.

Assurance (Audit)

The idea at the heart of our audit approach is simple yet powerful; it is the belief that an auditor’s judgement must be grounded in an intimate knowledge of a client’s industry and business. Only with this knowledge can the auditor ensure his strategy is aligned to your business needs, that it focuses on key controls and that judgement about audit financial statement assertions are made with confidence. Our understanding of business dynamics, risks and processes drives our approach to delivering an audit which meets your business requirements.

As part of our audit we will :• Identify your business risks and focus our work on the key assertions in the

financial statements;• Undertake a rigorous, in-depth audit that produces detailed information; and• Report effectively, giving balanced communication to appropriate audiences.

We recognise that management and the Board want assurance that basic transaction processing is effective.

However, our experience has shown that the traditional approach to external auditing is not only time consuming but worse, it lacks focus on the important processes and risks. As such, we had redesigned our audit approach to target audit risk (the risk of material error in the financial statements) and to focus on risk management and control.

And in practice, it means that at the end of our audit assignments, we would sum-up our findings and recommendations onto any control deficiency or other business points of highlights in a letter addressed to the Board through the issuance of “Management Letters” from the Partner of the Firm.

Assurance (Audit)- Transaction services for Merger and Acquisition (M&A)

YSC’s Due Diligence team appreciates the critical aspect of a due diligence and the fact that it can prove decisive to the acquisition exercise.

Combination of our traditional assurance skill and our commercial exposure will give rounded findings from the due diligence. Our professionals will work closely with the management of the target company, solicitors and other experts to achieve the objectives of the due diligence.

Common objectives of a due diligence exercise are as follows:

• To ascertain the Net Tangible Asset (NTA) of the target company • To ascertain the reasonable valuation of the shares of an entity to be

acquired based on several valuation model……………………………………………• To ascertain any contingent liability or hidden liability…………………….• To ascertain the commerciality and feasibility of a new business to be

acquired

Since year 2006, we had been the panel Specialist Due-Diligence teams for Koperasi Permodalan Felda Berhad (“KPFB”), during the period of which we had been consistently engaged to perform due diligence review on their Target Investing Companies. - Please refer to Appendix B for our track record based on our previous

appointments by KPFB.

The firm has a vision to become one of the leading Bumiputera firm in providing total solution in all matters of finance and taxation in such manner that our advice would also encompass to the way of an enterprise doing business – as both of the areas should be integrated towards the common and final objective of managing the bottom-line of an enterprise.

Our value-added taxation services – via our Licensed Tax-agency firm, Asiabiz Tax Advisory Sdn Bhd

In today’s competitive and borderless environment, a solid reliable tax advice and planning are vital to the success of a business operating within and outside its home territory.

Being a licensed tax agent, we will assist our client in finding the solutions. Our aim is to create value for our clients and to bring competitive advantage to their activities. We develop tax ideas, identify opportunities and cash flow benefits for our clients. It is our approach to review the current structure of clients and identify various tax strategies and implement the most optimal tax strategy for our clients. Our tax advisory services also include advice on structured finance products such as cross border lease, usage of tax credit and transfer pricing.

Asiabiz Tax Advisory Sdn. Bhd. has a long term experience in the tax audit and as tax agent for clients from small to large-sized companies. Our tax practice assist clients in complying with the ever-demanding tax legislations while finding opportunities for tax savings. Services that we provide can be classified unto the following general classification:

Corporate Tax Advisory and Planning ServicesIn the current Self-Assessment Tax system, corporate Tax payers are actually shouldering a bigger responsibilities amidst the greater freedom entrusted by the System. This is where our expertise came in to ensure the full benefits of the System can be reaped through a proper Tax Planning and in the same time, avoiding any unnecessary audit and penalty imposed by the Tax Authorities.

Individual and Corporate Tax Compliance ServicesWe perform all tax returns preparation functions, including annual tax returns, estimates and claims for our client.

Indirect Tax ServicesWith a gradual reduction in the income tax rates over the years in the form of import duties, export duties, excise duties, sales tax and service tax, is a key costs to the businesses. It is therefore imperative that new and existing businesses should be kept abreast with any new developments in the area of indirect taxes.

Internal Audit Services

The internal Audit team of YSC has years of sound knowledge and experience of providing internal audit services that assist and guide our clients to evaluate, determine and supervise the promptness and effectiveness of our clients’ accounting and internal control systems. YSC’s internal audit services include:

Internal Audit OutsourcingWe will exam and review our client’s financial and operating information, internal control system and the compliance with laws, regulations and other internal requirements.

Internal Audit Co-sourcingOur team will liase, coordinate and complement hand in hand with our client’s existing in house audit team so as to ensure that our client’s internal audit function effectively and be able to deal with operation, management and business risks.

Advisory and TrainingA hands-on advise and training will be given to our clients in developing their internal audit skills, methodology and tools used. Ultimately, we want to ensure that our clients’internal audit and corporate governance procedures are operating effectively and successfully.

Accounting & Payroll Outsourcing Services

Our Business Process Outsource (“BPO”) Consultancy arm, Asiabiz Consulting Group Sdn Bhd offers a total outsourcing solutions for SMEs in particular, in which its management intends to focus on the core-processes of the Organisation and relying on the professionals to manage the trouble and risk of the non-core processes or the other operating tasks of the Organisation.

The Outsourcing service is the product after years of engaging in supporting the businesses of SME and which enable our consultants to assist the SMEs to WORK ON their business and not just WORKING IN their business.

Accounting Outsourcing services:

From data-entry to the preparation of a full set of accounts and until the production of an informative management accounts. Management accounts comprises of a full set financial statements as well as a brief analytical review on the financial statements would be helpful to give an insight into the current performance and financial position of the reported entity.

Payroll outsourcing services:Our focus on HR in any organisation would identify and tackle, both the short term and long term needs of an organisation. Our consultative approach to administration will help streamline process to making the process improvements and at the same time, reduce the costs related to staffing. These improvements would lead to an enhanced performance and eventually, improvement to the Organisation’s bottom line.Our integrated HR module comprises of e-HR, e-Payroll, e-Leave System and e-Employee Self Service had been proven to be one of the contributors to the above value-adding improvements.

Licensed Corporate Secretarial Services

Corporate Secretarial services is part of our Business Process Outsourcing (“BPO”) services. Managed under Asiabiz Consulting Group Sdn Bhd (“ABCG”), we treat every each of our more than 100 clients specially and uniquely in accordance with our objective of providing personalised professional services while leveraging on common understanding of the client’s business’ requirements gained from the other interacting Departments within the Group.

Following are summary of range of the Corporate services offered under our full outsourced-support services:

Incorporation and registration of businessFor the incorporation of a private limited or public company either for residents or non-residents directors or of its mix. We can also assist in opening an offshore company in either local or overseas. Each incorporation will be given personalised attention and advice based on the proposed business plan and corporate structure. Our personalised post-sale services can extend until providing assistance in the opening of the Company’s current account with any nominated bank.

Licensed Corporate Secretarial servicesOn top of providing licensed company secretary services in compliance with the requirements of the Company’s Act 1965, our professional and highly qualified personnel would maintain a constant communication with clients to ensure compliance would always be observed and at the same time, keep on the tracking for any arising issues or requirements along the progressive development of the clients’ business.

Registration of business’s accounts with the AuthoritiesFrom the more complex registration in Petronas, PKK, CIDB, or Ministry of Finance (“MoF”) to the basic registration with EPF & SOCSO, our team has the in-depth experience to ensure for a smooth and trouble-free registration.

Application of Working-Visa for expatriates In YSC, we would like to leverage our know-whos and know-hows for the benefits of our clients even in this routine but could be tricky affairs with the Malaysian Immigration to reduce any likelihood of misjudged delays or complications that nay be arising.

Our ability to provide an integrated and personalised corporate affairs-solutions that compliment our audit practice is the hallmark of our Group’s professional practice. Further details of our professional consultancy services provided under the banner of Asiabiz are as follows:-

Asiabiz Consultig Group Sdn Bhd• Strategic and business planning • Corporate Secretarial and Governance• Associates Management Services

Asiabiz Tax Advisory Sdn Bhd• Tax Advisory and consultancy • Tax compliance services • Tax Investigation and audit • Tax training and workshops

Asiabase Capital Sdn Bhd• Corporate and debt restructuring • Business and share valuation • Arranger for micro & macro credit facilities • Business valuation and Feasibility studies• Design & set-up of Computerised Accounting

Systems and procedures

Please do not hesitate to contact us should you need any further explanations and we thank you in advance for all your supports.

8-2, Level 2, Jln Bangsar Utama 3Bangsar Utama

59000 Kuala LumpurT 603 2284 2842 F 603 2288 1172

E info@ysc.com.my