Richwood At A Glance
Our Specialization
Richwood is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.
Richwood Group of Companies are involved in various industries diversifying its investment to ensure its viability and sustainability. The Richwood Group, under its wholly owned subsidiaries, joint venture companies and partners, has been involved in the property development, biotechnology, finance, finance technology, investment, management and consultancy sector in Malaysia over the past 5 years headed by its enterprising and innovative founder and President, namely Ting Teck Sheng. Ting Teck Sheng is armed with two degrees from University of Wisconsin and Universiti Putra Malaysia in business and economics. He commenced his career in the financial line and has been a financial investment consultant for the past 13 years. He specializes in innovative financial products and brings a new breath into the financial investment products.
The Richwood Group has diversified interest in several industries namely, the finance industry and in particular finance technology; biotechnology which includes health and wellness; property development and management; agriculture, in particular oil palm; education and land banking. The Richwood Group is innovative and keeps moving with time to ensure that the Company is up to date and growing with the latest technologies. In line with this, the Richwood Group is also riding on the wave of the fourth industrial revolution (IR 4.0) to utilize technology, internet of things (IOT) and artificial intelligence (AI) in its business modules. Ting Teck Sheng believes in diversifying the company’s interest in various industries to mitigate the Company’s economic risk. With the wide range of industries, the Richwood Group is well equipped for any economic downturn and will not be too burdened by the risks.
Although the finance industry is Ting’s stronghold, he strongly believes that property is the one asset that only grows in value with time and will not depreciate like other assets. Following his philosophy, he went on to acquire lands and properties all over Malaysia and surrounding countries in Asia. As part of the natural progression of the Company’s growth, he has decided to venture into development to increase the earning ratio of his land and assets. In line with its growth philosophy and to enhance the Richwood Group’s standing, the Richwood Group has entered into several joint venture agreements with respected organization and companies. The Richwood Group has also ventured into many industries and have investment in several public listed companies in the United States of America, Singapore and Hong Kong and several small to medium size companies all over Asia Pacific.
The Richwood Group has invested as an institutional investor into several listed and pre-IPO companies and our portfolio includes QMIS TBS Capital Group Corp, a company pending listing on NASDAQ Global market and NYSE; and Finaz Morgan Limited, a company involved in e-banking, blockchain, payment gateway and other financial services listed on OTC Pink market, to name a few. The Richwood Group is always on the lookout for new and viable businesses that it can invest into to expand and diversify its portfolio.
Richwood is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.
One of the main applications of corporate governance to small businesses is transparency of financial practices and controls placed on how transactions occur. To this end, the Company will provide quarterly reports, and allow key stakeholders access to view reports such as the business’s balance sheet, cash flow statements or profit-and-loss reports.
Board members, partners, owners and key executives have signed conflict-of-interest disclosure statements as part of the Company’s corporate governance. In addition, they should agree to abide by conflict-of-interest policies, such as disclosing outside business relationships with vendors, suppliers, clients and customers and personal or family relationships to these parties or job applicants.
As part of good public relations, corporate social responsibility and meeting any state or federal hiring guidelines, we write and publicize hiring statements that assert the company’s commitment to fair hiring practices and non-discrimination.
The Board is responsible for:
This framework for management and oversight is designed to:
The Group must ensure that there is a balance of independence, diversity of skills, knowledge, experience, perspective and gender among the Directors. It should have a Board of an effective composition, size and commitment to adequately discharge its responsibilities and duties. The Board is structured in such a way that it:
The Board has a structure in place to independently verify and safeguard the integrity of the holding company’s financial reporting. The existence of an independent audit committee is recognised internationally as an important feature of good corporate governance.
The Board shall promote timely and balanced disclosure of all material matters concerning the Company. To achieve this the Company has put in place structures designed to ensure compliance with the relevant legislation and to ensure accountability at a senior management level for that compliance, such that:
The Board respects the rights of shareholders and facilitates the effective exercise of those rights. To this end, the Board has a responsibility, for ensuring that a satisfactory dialogue with shareholders takes place. In furtherance of this responsibility the Board empowers the shareholders by:
The Board has a responsibility to review the adequacy and effectiveness of the bank’s risk management strategies and review and approve the Bank’s risk management framework. To achieve this, the Group has developed an enterprise risk management policy and a risk appetite statement that governs the manner in which risk is managed in the Group. Some of the criterias include :
The Board is committed to encouraging enhanced Board and management effectiveness through periodic performance evaluations and reviews. The Board also ensures that Directors and key executives are equipped with the knowledge and information they need to discharge their responsibilities effectively.
Management is required to supply the Board with information in a form, time frame and quality that will enable the Board to discharge its duties and responsibilities. When needed, the Board has access to the advice of both in-house counsel, the Company’s external counsel and other independent professional advice, if necessary.
The Board shall ensure that the level and composition of remuneration is sufficient and reasonable and that its relationship to corporate and individual performance is defined. To achieve this, the Company has adopted remuneration policies that attract and maintain talented and motivated employees so as to encourage enhanced performance of the Company. It is important that there is a clear relationship between performance and remuneration. The Company has designed its remuneration policy in such a way that it:
In addition to its obligation to its stakeholders, the Company has other obligations to non-shareholders such as employees, customers and the community as a whole.
The Board has a responsibility to set the tone and standards with respect to the corporate social responsibility of the Company and to oversee adherence to these. The Group’s ethics and operating principles, which state the value and policies of the Company assists the Board in this task and acts as a guide for employees and management in conducting business and general behaviour.
Dear Employees and Business Associates,
Richwood Ventures Berhad (“the Company”) and its Board does not tolerate and against all forms of bribery and corruption practices within the business activities. This position also auger well into Malaysia government plans to eradicate corruption in the commercial organizations.
The objective of the ABAC policy is to provide information and guidance to the Directors, Employees and Business Associates on standards of behaviour to which they must adhere to, recognise as well as deal with bribery and corruption.
The ABAC policy is not intended to be exhaustive, and there may be additional obligations that the Directors, Employees and Business Associates are expected to adhere to or comply with when performing their duties.
We emphasized that the Directors, Employees and Business Associates shall always observe and ensure compliance with all applicable laws, rules and regulations to which they are bound to observe in the performance of their duties. Failing to comply, we may be confronted with dismissal, fines and imprisonment.
Thank you.
Yours sincerely,
Richwood Ventures Berhad
201901018812(132141-P)
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Our official website for “Richwood Ventures Berhad” as below:
i) richwoodvc.com
All Customers are advised to only deal with the authorised Management of the Company. All Customers are also advised not to deal in any monetary transactions to third party accounts and only deal with the authorised accounts of the Company.
In the event of uncertainty, kindly call our office at Puchong to clarify.
Kindly note that the Company does not acknowledge any unauthorized websites or social media websites created by third parties nor does the Company acknowledge or recognize any payments made to any third party's account. The Company shall NOT be in any way whatsoever responsible or liable for such websites and/or payments made to third party accounts.
We look forward to a long and lasting mutually beneficial relationship with all Customers.
Thank you and have a good day.