We are happy to announce that the corporate exercise involving the  Reverse-Takeover of ISS Consulting Solutions Berhad (ISS) was completed on 14 April 2010.

Following the completion of this exercise, Formis Resources Berhad (FRB)  through Formis Holdings Berhad, now holds approximately 59% equity interest in ISS. In this regard, ISS is now a subsidiary of FRB.

ISS is listed on the ACE Market of Bursa Malaysia Securities Berhad (Bursa), while FRB is listed on the Main Market of Bursa.

Formis Group held its annual business plan presentation session at its Conference & Training Center yesterday. All Heads of Company reviewed their 2009/2010 performance and shared their plans for the financial year ahead.

The Chief Executive Officer, Dato’ Mah Siew Kwok challenged the team to work harder in order to keep to their plans and meet their targets.

Formis Resources Berhad (FRB) received shareholders’ approval for its reverse takeover (RTO) of leading SAP solutions provider, ISS Consulting Solutions Bhd (ISS). The RTO of ISS is via the injection of FRB’s subsidiary Diversified Gateway Berhad (DGB) into ISS.

The RTO is part of a corporate exercise approved by shareholders at the Company’s extraordinary general meeting on 17 March 2010. The proposed corporate exercise has received all the relevant approvals, except for Securities Commission’s approval for the Proposed Dividend-In-Specie and the Mandatory General Offer. After the distribution in-specie, FRB will hold 59.3% of ISS.The distribution of the Proposed Dividend-In-Specie will be implemented upon receipt of the approval from the relevant authorities and in compliance of all the conditions stated.

An entourage of 12 key managers from Formis Group visited HeiTech Village 2 Data Center on 25 Feb, 2010. Lead by its CEO,  Dato’ Mah Siew Kwok, the team was given a very impressive introduction and visit of the data center, which culminated with a sumptuous lunch complete with the auspicious toss of ‘yee sang”.

En Abdul Halim, the CEO of HeiTech Managed Services Sdn Bhd expressed that the visit is not only to introduce their data center and its services but more importantly to foster a closer working relationship with Formis Group. We certainly look forward to meeting that objective and have a great 2010 together.

More than 50 senior management staff of both ISS Group and Formis Group gathered for a half day familiarization session on 3 December 2009.

Mr Harald Weinbrecht the Chief Executive Officer of ISS led the ISS Group with a corporate overview, followed by the respective presenters representing ISS Malaysia, ISS Singapore, ISS Thailand and Cogent.

Formis Resources Berhad was introduced by its Managing Director Mr Chan Ngow while Dato’ Mah the Chief Executive Officer concluded the session with a closing remark.

The 13 active IT subsidiaries of Formis were introduced individually by its head of company or its designated presenter . It was a heavy half-a-day  in terms of number of presentations but albeit a useful and interesting session.

We are happy to announce and welcome Ms Mah Xian-Zhen to Formis Group.
 
Xian-Zhen holds two portfolios ;  Director of Wang Corporation Sdn Bhd as well as Personal Assistant to the Chief Executive Officer of Formis Resources Berhad.

Xian-Zhen, a graduate of Wellesley College, USA  is also a qualified lawyer who was called to the Bar of England and Wales in 2006 and admitted to the Malaysian Bar in 2007. Prior to joining Formis Group, she was a Legal Assistant in Shook Lin & Bok. 

Xian- Zhen also has an array of work experiences ranging from volunteering in various grass-roots and non-governmental organisations both locally and abroad to working as a research intern at the Institute for Strategic & International Studies. Xian-Zhen is fluent in English, Mandarin, Malay and Spanish.

Wang Corporation Sdn Bhd (WCSB) though incorporated in 1975, was deployed into the technology business of Formis Group in August 2009. It is principally involved in all aspects of software development, systems integration and other related services, amongst which is the implementation of the “e-Kehakiman” project. Some of WCSB’s other core competencies cover:

• Customized Electronic Filing Systems
• Digital Audio-Video Recording Systems
• End-to-End Solution Integration
• IT Consultancy and Advisory Services
• IT Project Management
• Queue Management Systems
• Software Development and Implementation
• Total Systems Maintenance and Support

Formis Resources Berhad held its 9th Annual General Meeting (AGM) on 9 September 2009. Chairman Tan Sri Dato’ Seri Megat Najmuddin said at a press conference after the AGM, that the Group which turned around with a profit before tax of RM15.6 million for the financial year ended 31 March 2009, continued to perform positively in the first quarter with a profit of RM4.83 million for the period ended 30 June 2009. Tan Sri is confident that earnings will be strong in the remaining three quarters of the financial year.

From left to right:  YBhg Datuk Rahim Baba (Director), Ms Wong Pooi Lam (Executive Director), YBhg Dato’ Mah (CEO), Mr Chan Ngow (Managing Director), YBhg Tan Sri Dato’ Seri Megat (Chairman), Ms Lim Shook Nyee (Co Secretary), Mr Au Yong (Director) and En Ahmad Khalid (Director).

From left to right – Mr. Joseph Liow (FCS-Business Manager), Mr. Kang Shin (Koscom-Manager,Global Business Team), Ms. Quein Nam (Interpreter) , Mr. Wong Wai Wah (FCS-General Manager), Dato’ Mah (Formis-Executive Vice Chairman & CEO), Mr. Paul Kim (Koscom-Chief Executive Officer), Mr. Yoon Kyung (Koscom-Manager, Exchange IT ) , Mr. Koh Kuan Sing (FCS-Head Prof Services), Mr. Kim Gye Young (Koscom-Sr. Manager), Mr. Jacky Cheong (FCS-Account Manager)

Formis Computer Services (FCS) recently had the pleasure of a courtesy visit by Koscom. Koscom is a professional Financial IT solution firm established in 1977 by the Ministry of Finance and the Korea Stock Exchange to computerize the securities markets and related industries systems. FCS and Koscom are business partners.

The Chief Executive Officer of Koscom, Mr. Paul Kim and his team Mr. Kang Shin, Mr. Yoon Kyung, Mr. Kim Gye Young and Ms.Quein Nam were in Kuala Lumpur for the official launching of Commodity Murabahah House (CMH) by Bursa Malaysia.

The Edge and Financial Daily today highlighted Formis’ participation in the forthcoming “The Edge- Bursa Malaysia Rat Race 2009”. Check out our colleagues and CEO who will be running the race. ( http://www.theedgemalaysia.com/business-news/129108-join-the-61-teams-that-have-signed-up.html).

From Left to Right:

Hariharan-System Engineer
Wee Teck Poh-Technical Consultant
Yap Yee Wai-Technical Project Manager
Liew Say Mooi -Accounts Executive
Catherine Wan-Section Head HR

The Rat Race will be held on Tuesday, 11 August 2009.

Enjoy this piece of write up in The Star today ( 3 June 2009)

Formis Resources returns to the black

By LAALITHA HUNT

The IT firm’s orderbook stands at RM196mil

PETALING JAYA: Information technology (IT) services provider Formis Resources Bhd has turned around with a net profit of RM9.19mil for the financial year ended March 31, 2009 (FY09) compared with a net loss of RM1.97mil in FY08.

Its group revenue was 9.1% higher at RM379.47mil against RM347.68mil before. The earnings per share for FY09 improved to 4.94 sen against a loss of 1.07 sen per share previously. However, for the fourth quarter ended March 31, the group posted a 27% decline in revenue to RM89.37mil from RM123.39mil in the previous corresponding quarter. Its net loss was 37.7% lower at RM3.21mil against RM5.15mil previously.

Chairman Tan Sri Megat Najmuddin Megat Khas attributed the earnings recovery to the significantly higher contribution from its network and systems integration division as well as improvements in gross margin. “Going forward, we expect earnings growth to be sustained by significant orders in hand and a strong recurring income stream of RM60mil per annum from maintenance and service contracts for systems installed by the group,” he told StarBiz. The group’s orderbook stands at RM196mil currently. Najmuddin noted that many companies had not reduced their IT spending over the past year, despite the difficult economic situation, owing to their efforts to improve operational efficiency and productivity. “The banking sector is still spending to improve its IT systems while the telcommunications industry has been boosting its network infrastructure,” he said.

Managing director Chan Ngow said another area of growth for the company was in the marine industry. “We are currently working on integrated IT solutions for the Tanjong Pelepas port operations, which is one of our biggest projects this year,” Chan said, declining further comment. As for the group’s overseas venture in Vietnam, Chan does not expect significant earnings contribution from its regional office there in FY10.

We had our Dinner & Dance on 24th April and I am only blogging about it now! My apologies:)

Our party was themed “Funky Batik” and it was fun. We had 400 people eating, laughing, drinking all night long. Unfortunately we did not have much time(or energy) left for dancing, so dancing was really minimal.

We must thank the Committee for putting up a very interesting program for the night – the lucky draws were done in such a way that at least half the crowd goes home a lucky draw winner; the talentime contest was awesome.

Congratulations to the winners – Rhythm in the Beat, Mimi and Cream Group. So till we meet again, work hard, play hard.

On behalf of the Board of Directors, Management and Staff of Formis Group of Companies, we would like to convey our deepest condolences to our Executive Vice Chairman & Chief Executive Officer YBhg Dato’ Mah Siew Kwok on the demise of his beloved uncle YBhg Dato’ Mah Chin Chuan, DPMP JP on 30 December 2008.

We wish to inform that PT Formis Solusi Indonesia (FSI) has ceased its business operations in Jakarta.

FSI commenced business in July 2000. It was set up with the objective of becoming a leading IT solution provider in Indonesia. However, after intense scrutiny of FSI’s progress over its eight years of operations, Management felt that it have not been successful in meeting this objective. As a result of this and various issues and constraints, it was decided that the best measure to take at this point in time is to cease FSI’s business operations until further notice.

With this exercise, FSI is now an inactive wholly-owned subsidiary of Formis Holdings Berhad.

The Board of Directors of Formis Resources Berhad (Formis) is pleased to announce that the Foreign Investment Committee has approved Formis' proposed acquisition of an additional 10% equity interest in Diversified Gateway Berhad (DGB).

The proposed acquisition was completed on 14 October 2008 and as such Formis now holds 90% equity interest in DGB.

DGB was incorporated in 1994 and its business focus essentially is in tele/data communications. It is DGB's goal to be the premier provider of a full range of tele/data communications solutions in LAN, WAN, Transmission, Switching and Operation Support Systems.

Formis Resources Berhad (Formis) have just conducted its 8th Annual General Meeting (AGM) at Sime Darby Convention Center. It was a busy morning for the Company Secretary and her team registering and dishing out doorgift to the shareholders. Then the Board of Directors headed by its Chairman Tan Sri Dato' Seri Megat Najumuddin had a smooth session with the shareholders. At the end of the AGM, the Chairman and Managing Director fielded questions at a Questions & Answers session from the press. Read Press Release. Read also 11th September 2008 The StarOnline
Photograph of Formis' Board ( From left to right : Datuk Rahim, Dato' Hairuddin, Mr Chan Ngow, Dato' Mah, Tan Sri Dato' Seri Megat Najmuddin, Ms Agnes Lim (Company Secretary) and En Ahmad Khalid).

Five young men and one not-so-young man from Formis Group took part in the recent The Edge-Bursa Kuala Lumpur Rat Race. The young 'rats' from Formis Computer Services Sdn Bhd are (from L to R); Gabriel Choong, Surjit Singh, WW Wong, Jacky Cheong, Anthony Cheang. Thanks Guys!

While the five young men came back with less body fat, the not-so-young man came back with a trophy! Dato' Mah, who ran in the "CEO Category" collected the trophy for the "Most Senior Runner". Congratulations Dato'.

 
"For the year ended 31 March 2008, the Group recorded revenue of RM347.7 million, an increase of 21.5% as compared to the preceding financial year. We are pleased too, to report a profit before tax of RM4.4 million compared to the loss before tax of RM5.0 million in the preceding financial year". (Excerpt from Chairman's Statement)

Formis Resources Berhad 2008 Annual Report is out in hard copy and CD. A copy has been given to each head of company in the Group for reference. However, you can also access the annual report on our website www.formis.net. (Go to CORPORATE ANNOUNCEMENT, click on INVESTORS RELATIONS). As part of the regulatory requirement, our Annual Report is also available in Bursa Malaysia's website, www.bursamalaysia.com

CONGRATULATIONS Tan Sri Dato' Seri Megat Najmuddin
from all of us at Formis Group.

Our Chairman YBhg Dato' Seri Megat Najmuddin was conferred the Panglima Setia Mahkota which carries the title Tan Sri, by our King DYMM Yang DiPertuan Agong at HRH's recent birthday celebration.

With immediate effect, Tera Asia Pacific Sdn Bhd (TAP) has moved its office to Phileo Damansara and the contact particulars are as follow:

Tera Asia Pacific Sdn Bhd
602, Block A, Phileo Damansara II
No 15, Jalan 16/11, Off Jalan Damansara
46350 Petaling Jaya
Selangor
Malaysia
Tel: (603)7665 0088
Fax: (603) 7665 0080
URL: www.formis.net

Congratulations to Mr Wong Wai Wah - the acting is over! 

Wong is no longer the Acting General Manager of Formis Computer Services Sdn Bhd (FCS). With immediate effect, he has been officially designated FCS' GENERAL MANAGER.

Wong, who graduated from Universiti Kebangsaan Malaysia with a BSc, has over 16 years working experience is in the field of sales and marketing. He joined FCS in September 2006 as Senior Business Manager.  Some of Wong’s previous employers are GHL Bhd, Nexus-Control Sdn Bhd, Watchmark Technologies Sdn Bhd and ET Communications Sdn Bhd.

Some of you might notice that Sheikh Taha Sheikh Mohammed, our Regional Manager for Tera Asia Pacific (TAP) is no longer in office. Taha submitted his resignation on Jan 2, 2008. We bid a silent farewell to Taha who started his career in Formis Computer Services as a Business Manager. He served as Regional Manager, TAP for 6 years since 2001.

Consider this as the official announcement of his departure. We also would like to take this opportunity to announce the integration of our media businesses; Tera Asia Pacific and Formis Media Teknologi (FMT).

The internal re-organization of Formis' media businesses will see Hamdan Hamzah managing both TAP and FMT with Business Manager, Pow Chwee Meng and Project Manager, Bernard Francis assisting. TAP is also expected to move back to their old office at Philleo Damansara which is currently occupied by FMT.

The Board of Directors of FRB has approved the appointment of En Ahmad bin Khalid as an independent non-executive director of FRB with effect from 1/11/2007. En Ahmad is also appointed as a member of the Audit and Risk Management Committee and the Remuneration Committee on the same date.

Com-Line Systems Sdn Bhd incorporated a wholly-owned subsidiary company known as Prism Portal Asia Sdn Bhd (“PPA”) on 24 September 2007. PPA which is currently dormant have an authorised share capital of RM100,000.00. The intended principal activity of PPA is the provision of information technology and software development, consulting and outsourcing services. Com-Line Systems Sdn Bhd is a subsidiary of Formis Resources Berhad.

Chan Ngow, Managing Director of Formis Resources Berhad (Formis) was quoted in today’s New Straits Times page 42 “VSS is being considered as we want to cut down on our workforce but it is not put in place yet.”  This statement was purportedly made after Formis’ 7th Annual General Meeting held on 19th September 2007.

However, Chan clarified with a full context of his statement this afternoon. Chan began: “I would like to first of all abate any concern amongst our staff on this issue of VSS.” According to Chan, the reporter raised questions about VSS. Chan, however, did not mention VSS in his answer. Chan’s actual statement was: “What we were trying to do is to streamline our operations, and cut down on manpower operations. However, it is not put in place and there is no time frame to such plan.”

Presently, the Group’s strategy on streamlining staff force is to allow for “natural attrition”. This simply means, when an employee leaves the Group, his/her position is not immediately replaced. The existing position is re-assessed. If there is still a need for replacement, the Group will look at the existing pool of human resources for redeployment or look for new hire.

We are happy to welcome two new key managers to the Group;

Ms Yeap Lee Lee joined Formis Resources Berhad some time mid July as Group Accountant. Lee Lee graduated from Universiti Kebangsaan Malaysia with a degree in Accountancy.

Since her graduation in 1999, Lee Lee has worked in various organisations including BDO Binder Chartered Accountants, Grant Thornton Chartered Accountants, Habib Corporation Berhad and Magnificent Diagraph Sdn Bhd, a subsidiary of Carrefour France. She is also a member of Malaysian Institute of Accountants and Malaysian Institute of Taxation.

Mr Ken Tan Kien Hok is now the General Manager of Continuous Network Advisers Sdn Bhd. Ken who holds a Bachelors Degree in Applied Science from Royal Melbourne Institute of Technology, joined the company in August 2007.

He has over 15 years of local and regional work experience involving both Managerial as well as Technical positions. Some of his previous employers include iPanel Malaysia, Quest International, Anixter Inc (South East Asia) and even Formis Computer Services!

We have received some queries about Formis Resources Berhad (FRB) financial performance for FY2006/07, which reported a loss of RM4.4million. We hope the following explanation provide you with a better perspective of the situation:

• For the FY06/07, FRB’s Profit from Operations was RM6.95milliion.
  
• In compliance with the new Financial Reporting Standards (FRS), FRB took write-off of RM17.67million for impairment of goodwill and provisions for bad debts. In addition, there was a book gain of RM6.35million from the sale of Applied Information Management Services Sdn Bhd and asset write-backs. Therefore, the net effect is RM11.32million in write-off.
  
• The difference between Profit from Operations and net write-off is the reported Net Loss of RM4.4million.
  
• To comply with the Financial Reporting Standard (FRS) requirements, FRB will continue to assess its goodwill (now valued at RM 140 million) to ensure that it is always positive.
  
• Financially the Group is still sound and strong.

Please note that this should be the standard clarification in response to queries from our business partners and customers.

Come 1st June 2007, Formis Network Services Sdn Bhd (FNS) will take over the the entire operations and business of Formis Computer & Communication Sdn Bhd. This is in line with the Group's direction to streamline its Systems business.

FNS is a Bumiputra Systems Integrator focussing on Government, Telecommunications and Oil & Gas industry. With this integration, FNS will now have in its portfolio the business of providing mission critical solutions for the Defence and National Security sector.

Jonathan Ng, our Group Accountant is leaving us to join an undisclosed MNC as their Financial Controller. Bigger pay and larger scope of work were the reasons for making the jump.

Jon joined us in 2004 and brought with him over six years working experience both in Commercial Accounting and Auditing environment then. He holds a professional qualification in Accounting and is a member of the Malaysian Institute of Accountants and the Association of Chartered Certified Accountants. Some of his past employers include Chin Foh Berhad and BDO Binder.

We all wish Jon the best of luck in his career.

This lonely looking vending machine is located on the 10th Floor of Menara SMI. It was placed there for the convenience and enjoyment of staff as well as guests of Formis Group who use the training and conference facilities. It is now facing a strong possibility of being carted back because of under usage.

So, if you want to continue to enjoy cold canned drinks at only RM1.30 per can, please beef up the usage to ensure its presence. Price check around shows that a can of Coke is RM1.50 from the drugstore at Menara PanGlobal, and RM2.50 from Geo Cafe.

At 44, Michael Tay is a veteran in Formis Group. He has been around the Group for over 12 years.

1995 - he joined Formis Computer Services Sdn Bhd as Manager
1997 - he was transferred to First Solution Sdn Bhd (FSSB) as its Technical Manager.
2001 - he was made the Assistant General Manager of FSSB.
2002 - he was reassigned to General Manager of FSSB.
2006 - he was transferred to head BASS Consulting Sdn Bhd (BASS).

In December 2006, BASS and Formis Software Dynamics Sdn Bhd (FSD) underwent a reorganisation and integration exercise. Following this exercise, Mike remained as BASS General Manager.

Effective April 2nd, 2007, Michael Tay is officially appointed the General Manager for FORMIS BASS Software Sdn Bhd (FORMIS BASS).

Heads of Company and Key Managers attended a whole day meeting to present their 2007/08 Business Plan to executive management and Board of Directors on Friday, March 16, 2007.

The annual planning cycle starts with the Business Plan Presentation (BPP) and is followed up by a half year review session called Business Plan Review (BPR) usually held before September 30th each year. This year, the group was joined by its latest addition, Com-line Systems Sdn. Bhd. which was represented by its Managing Director, Lawrence Sunderam. Besides projections, other plans such as the introduction of this on-line newsletter (using blog technology) was presented. Although this on-line newsletter will be officially launch on April 2nd, 2007, beta testing have started and trial-run is due to start tomorrow.

This is it! The new logo for FORMIS BASS Software Sdn Bhd. The basis for the design is in maintaining the former companies identities but adopting the standard FORMIS blue as the color. The logo was picked out during Wednesday's management meeting after two rounds of various options presented.

With the resignation of two key managers last week, the Group announced the appointment of Wong Wai Wah, Senior Business Manager (right), to oversee the running of Formis Computer Services Sdn Bhd as an interim measure.  Similarly, Pow Chwee Meng (bottom), Sales Manager,  Formis Media Teknologi is assuming the role as HOC until Hamdan Hamzah returns from his month-long medical leave.

No replacement was announced for the position of Vice President, Software. However, the official appointment of Michael Tay to head the new combined software company, FORMIS BASS Software Sdn Bhd was also announced today.

Strive Forward, Managers!

Damian Yeoh, Vice President, Software, tendered his resignation on Friday, March 3rd, 2007. Damian joined Formis’ subsidiaries, Continuous Network Advisers Sdn Bhd and Continuous Network Services Sdn Bhd as Director, Sales & Marketing in 1999. In 2003, Damian was appointed Managing Director of both companies. Following the MY-Infotech and Formis acquisition, he was appointed to his present position in 2006.

Damian, a Masters in Business Administration, specialising in International Management (MBA-IM) from RMIT University of Melbourne, Australia, began his career in the IT industry in 1991

Nick Goh, General Manager of Formis Computer Services Sdn. Bhd. tendered his resignation on February 27th, 2007. However, he will continue to serve until March 22nd, 2007. According to Nick, he will be taking a break before trying his hand into doing his own business.

Nick was appointed General Manager for FCS in 2004 after serving about a year in Diversified Gateway Berhad as Vice President, Marketing, there.

Nick has been in the Computing, Data Communications & Telecommunications industry since 1985. His 19 years working experience span across end-user to service provider. Prior to joining the Group, Nick was attached to Cordoda Corporation Sdn Bhd as its General Manager. In addition to his hands-on experience in the technical arena, Nick is a member of the British Computer Society – System Analysis and Design chapter.

Good luck, Damian and Nick! We wish you all the best in your endeavors.

These are some samples of the proposed logos for FORMIS BASS Software.  I think the one on the left mutilates our existing formis logo eventhough it is nice and cheerful (too bad we are not in the entertaintment industry.)  The one in the middle looks too much like ABS while last one on the right is too boring.  What's your thoughts?

Company Secretary, Agnes Lim reports that the change of name from Bass Consulting Sdn. Bhd. to FORMIS BASS Software Sdn. Bhd. has been effected by the Registrar of Companies effective February 21st, 2007. The name change is in line with the Group's reorganization of its Software business.

Under the reorganization, Formis Software Dynamics and Bass Consulting are merged into a single entity, FORMIS BASS Software. The consolidation announced on December 13th, last year, will affect about 120 employees.  The new consolidated entity is expected to be launched formally in early April 2007.

With effect from 1st January 2007, Nancy Yeoh relinguished her responsibility as the General Manager of Formis Software D ynamics Sdn Bhd (FSD) to take up her position in Formis Resources Berhad as Vice President, System Process.

In this new position, Nancy has the responsibility of looking into the system process of the entire Formis Group.

FSD and BASS Consulting are undergoing some internal restructuring. These two software companies are currently under the care of Damian Yeoh, Vice President, Software.