Our Story

Our Journey

Our roots can be traced back to 15 March 1907 where The Ayer Hitam Planting Syndicate Limited was founded and mainly cultivated rubber at Bukit Hitam Estate, Selangor.

On 28 March 1961, the Company was listed on Kuala Lumpur Stock Exchange and its principal activities included rubber and oil palm plantations, and property development encompassing homes, commercial units and industrial buildings. Celebrating a century of achievements in 2007, we adopted a new name, TAHPS Group Berhad.

In 2017, we rebranded and changed our name to AYER Holdings Berhad and boasted a market capitalisation of more than RM500 million. Our subsidiaries include Bukit Hitam Development Sdn Bhd, Yee Seng Plantations Sdn Bhd, The Ayer Hitam Development Sdn Bhd and Cendana Maju Construction Sdn Bhd.

As we build upon our legacy of being a trusted and reliable property and plantation organisation, we will continue to realise dreams and to a bigger extent, Celebrate LIFE.

Our Vision

To enhance value for stakeholders as a leading player in land-based businesses and activities.

Our Mission

To go beyond benchmarks - to ensure sustainable shareholder value and exceed customers’ expectations through innovative products and services; and from hand-to-heart, committing to our core values, we are a responsible corporate citizen; a preferred employer; and choice partner for business.

Our Values

Listen

Integrity in all we do

Honesty and the highest standards with ourselves and with each other is where it all begins.

Serve

Passion to realise

The joy we can provide to our customers and partners keeps us ticking!

Inspire

Commitment to deliver

We’re fiercely committed to building lives and livelihoods, not just brick and mortar.

Live

Balance in life

We believe life should be celebrated inside and outside the office.

Milestones

On 15 March 1907, The Ayer Hitam Planting Syndicate Limited was registered and incorporated under the Companies Enactment 1897. The authorised share capital was $500,000 divided into 500,000 shares of $1.00 each. The first directors were Messrs. R.W. Harrison, John Gibson, G.H. Day and P.W. Parkinson. The Company cultivated rubber at the Bukit Hitam Estate in Selangor.

Not much history was recorded in the archives of the early days of Malaya.

Listed on the Kuala Lumpur Stock Exchange on 28 March 1961 with a paid-up capital of RM1,318,275.

Acquired Gali Estate in Raub, Pahang by the issuance of 950,000 shares. The Ayer Hitam Planting Syndicate Limited issued and paid-up share capital increased to RM2,268,275.

Messrs Lim Yee Teck, Lim Yee Hoh and Lim Yee Bee were registered as the major shareholders of The Ayer Hitam Planting Syndicate Limited.

The Ayer Hitam Planting Syndicate Limited was re-named to The Ayer Hitam Planting Syndicate Berhad after the Companies Act 1965 was enacted.

The Ayer Hitam Planting Syndicate Berhad incorporated a wholly owned subsidiary, The Ayer Hitam Development Sdn Bhd with an authorised paid-up capital of RM10 million to undertake property development activities.

The Ayer Hitam Planting Syndicate Berhad executed a shareholders' agreement with Perbadanan Kemajuan Negeri Selangor (PKNS) for the purpose of participating in an equally shared (50:50) joint venture via Bukit Hitam Development Sdn Bhd (BHD) to undertake property development.

The Ayer Hitam Planting Syndicate Berhad disposed 1,290 acres of land for RM122.5 million in Mukim Dengkil and Mukim Petaling, Selangor to BHD for joint venture development.

The Ayer Hitam Planting Syndicate Berhad undertook a bonus issue of 22,682,750 ordinary shares of RM1.00 each on 4 November 1993. The paid-up capital after the bonus issue was RM24,951,025.

The Ayer Hitam Planting Syndicate Berhad’s wholly-owned subsidiary, The Ayer Hitam Development Sdn Bhd, embarked on the development of Bandar Puchong Utama Commercial Centre on an area of 53 acres, comprising 288 units of shop offices and a commercial complex.

The Ayer Hitam Planting Syndicate Berhad’s joint venture company with PKNS known as Bukit Hitam Development Sdn Bhd commenced construction works on the development of the Bukit Puchong township on the site of the former Bukit Hitam Estate.

The Ayer Hitam Planting Syndicate Berhad was recognised by the Registrar of Companies (ROC) in the ROC 100 years celebration as one of the pioneer companies in Malaysia which is still active. The following citation was from ROC… "Syarikat tertua dan masih aktif".

The Ayer Hitam Planting Syndicate Berhad undertook a bonus issue of 49,902,050 ordinary shares of RM1.00 each on 14 January 2000. After the bonus issue, the paid-up capital increased to RM74,853,075.

The Ayer Hitam Planting Syndicate Berhad’s wholly-owned subsidiary, The Ayer Hitam Development Sdn Bhd, acquired Cendana Maju Construction Sdn Bhd – a company specializing in the pre-cast concrete construction method of Industrialised Building Systems (IBS).

On 6 September 2005, The Ayer Hitam Planting Syndicate Berhad entered into a Sale and Purchase Agreement with PKNS to acquire PKNS's 50% equity interest in BHD.

Completed the acquisition of the 50% block of shares in BHD belonging to PKNS on 25 January 2006 for RM104 million.

Cendana Maju Construction Sdn Bhd was awarded The Malaysian Construction Industry Excellence Award 2006 (Special Award) in the Industrialised Building System (IBS) category in November 2006.

The Ayer Hitam Planting Syndicate Berhad celebrated its 100^th year milestone and was renamed to TAHPS Group Berhad.

TAHPS Group Berhad acquired the shares of Yee Seng Plantations Sdn Bhd, who primarily owns a piece of plantation land measuring approximately 2,102 hectares in Kerteh, Terengganu and a piece of agricultural land measuring approximately 2,023 hectares in Pasir Raja, Terengganu.

On 26 December 2017, TAHPS Group Berhad was renamed to AYER Holdings Berhad.

On 28 December 2017, the Company’s Stock Short Name was changed to AYER.

Awards

Architectural Design, Residential Low-Rise

Bromelia

Opal Award Winner 2021

The Best Touch And Feel Award

EPIC Residence

Star Property Awards 2018

Best Boutique Lifestyle Development

EPIC Residence

Property Insight Prestigious Development Awards 2017

Best Hilltop Development

Foreston

Property Insight Prestigious Development Awards 2016

Best Interior Design Show Home Malaysia

Foreston

Asia Pacific Property Awards Interior Design 2015-2016

Board of Directors

MR. LIM KEE CHOON (CHAIRMAN)

Non-Independent Non-Executive Director

MR. LIM KE HUN

Non-Independent Non-Executive Director

MS. LIM WAN YEE

Non-Independent Non-Executive Director

MDM. CHANG WEE YON

Alternate Director to Ms. Lim Wan Yee

MR. EDWIN JOSE GOMES

Alternate Director to Mr. Lim Kee Choon

Mr. Lim was appointed to the Board on 10 August 1994 and was re-designated as an Executive Director on 1 December 2002. On 17 October 2016, he was re-designated as a Non-Independent Non-Executive Director of the Company.

On 1 January 2022, Mr. Lim was appointed as Chairman of the Board and had ceased as member of the Nomination and Remuneration Committee taking cognizant that the Company adopts the best practice recommended by the Malaysian Code on Corporate Governance 2021 whereby Chairman of the Board should not be a member of the Board Committee.

Mr. Lim is also a Director of Red Ideas Holdings Berhad and several other private companies. He is also a trustee of both the Alzheimer’s Disease Foundation Malaysia and Yayasan Lim Yee Hoh.

Mr. Lim graduated with degrees in Law and Commerce from the University of Melbourne, Australia in 1978 and has been admitted to practice law in Malaysia and in the State of Victoria, Australia.

Besides Red Ideas Holdings Berhad, Mr. Lim does not have any directorship in other public companies or listed issuers in Malaysia.

Mr. Lim was appointed to the Board on 3 May 1994 and was re-designated as an Executive Director on 1 December 2002. On 17 October 2016, he was re-designated as a Non-Independent Non-Executive Director and concurrently appointed as a member of the Strategy and Oversight Committee and Audit Committee. Mr. Lim ceased as a member of the Strategy and Oversight Committee following its dissolution on 1 January 2022. On 7 August 2023, Mr. Lim was appointed as a member of the Board Risk Committee.

Mr. Lim is also a Director of several other private companies.

Mr. Lim graduated from The Chartered Institute of Marketing of London, United Kingdom.

Mr. Lim does not have any directorship in other public companies or listed issuers in Malaysia.

Ms. Lim was appointed to the Board on 18 May 1994 and was re-designated as an Executive Director on 1 December 2002. On 17 October 2016, she was re-designated as a Non-Independent Non-Executive Director, and appointed to the Strategy and Oversight Committee and the Board Risk Committee. Ms. Lim ceased as a member of the Strategy and Oversight Committee following its dissolution on 1 January 2022. On 7 August 2023, Ms. Lim was appointed as a member of the Board Risk Committee.

Ms. Lim is also a Director of Bee Guan Sdn Bhd and several other private companies. She is a Council Member of the Malaysian Estate Owners’ Association, and a Member of the High Conservation Value Committee of the Malaysian Palm Oil Certification Council. She is also the Founder of The Godown, which is an arts centre in Downtown Kuala Lumpur.

Ms. Lim has a Bachelor’s degree in Management Science and a Master’s degree in Operational Research from the London School of Economics, University of London. In 2021, she successfully completed the Oxford Climate Emergency Program of the Saïd Business School, University of Oxford.

Ms. Lim does not have any directorship in other public companies or listed issuers in Malaysia.

Mdm. Chang is an alternate Director to Ms. Lim Wan Yee since 25 July 1994.

Mr. Edwin Jose Gomes, ACA, was appointed as an alternate Director to Mr. Lim Kee Choon on 10 September 2021.

MR. CHIN YOONG KHEONG

Independent Non-Executive Director

TAN SRI ARPAH BINTI ABDUL RAZAK

Independent Non-Executive Director

DATO’ JEFFREY NG TIONG LIP

Independent Non-Executive Director

MR. RAYMOND YEOH CHENG SEONG

Independent Non-Executive Director

Mr. Chin was appointed to the Board on 1 January 2014. He is the Chairman of the Audit Committee and the Nomination and Remuneration Committee. He is also a member of the Board Risk Committee.

Mr. Chin was a partner of a Big 4 Accounting Firm and had served the Firm for more than 34 years in the United Kingdom, Vietnam and Malaysia. He is also an Independent Non-Executive Director of various companies under RHB Bank Berhad Group and in several other private companies.

Mr. Chin graduated with BA (Hons) Economics and is a Fellow of the Institute of Chartered Accountants in England and Wales.

Mr. Chin is not related to any Director and/or major shareholder of the Company and does not have any interest in the securities of the Company and/or its subsidiaries.

Other than RHB Bank Berhad Group, Mr. Chin does not have any directorship in public companies or listed issuers in Malaysia.

Tan Sri Arpah was appointed to the Board on 1 October 2021 as an Independent Non-Executive Director. On 7 August 2023, Tan Sri Arpah was appointed as a member of the Nomination and Remuneration Committee and the Audit Committee.

Tan Sri Arpah had previously worked in the Malaysian Civil Service sector for over 40 years. She was last appointed as the Chairman of the Public Service Commission of Malaysia before retiring from the Malaysian Civil Service sector. Throughout her illustrious career, she was conferred both national and state awards from Selangor, Penang and Kedah for her contributions to the nation.

Tan Sri Arpah graduated with a Second Class Upper Honours in Bachelor in Social Science (Pengajian Bandar) from University Sains Malaysia and Masters of Planning from the University of Southern California, USA. She also obtained a post-graduate diploma in Public Administration from the National Institute of Public Administration (INTAN), certification in Human Resource Management from the University of New South Wales, Australia and has completed the Advanced Management Program from the Harvard Business School.

She is not related to any Director and/or major shareholder of the Company and does not have any interest in the securities of the Company and/or its subsidiaries.

Tan Sri Arpah does not have any directorship in other public companies or listed issuers in Malaysia.

Dato’ Jeffrey Ng was appointed to the Board on 1 July 2023. On 7 August 2023, he was appointed as Chairman to the Board Risk Committee, member to the Nomination and Remuneration Committee and the Audit Committee.

Dato’ Jeffrey Ng has a Bachelor Degree of Economics from Monash University, Melbourne, Australia. He is a member of The Malaysian Association of Certified Public Accountants and a fellow member of The Chartered Accountant, Australia and New Zealand.

Dato’ Jeffrey Ng holds various positions in non-governmental associations, among which he is the Chairman of Real Estate Housing Developers Association (REHDA) Institute and is the Advisor of The Malaysian REIT Managers Association (“MRMA”). He is also a panel member of the Appeal Board under the Federal Territory (Planning Act 1982).

With more than 37 years of extensive experience in the real estate, hotel and banking industry, Dato’ Jeffrey Ng held past directorships under The Sunway Group and was formerly the Chairman of United Overseas Bank (Malaysia) Bhd.

Mr. Raymond Yeoh was appointed to the Board on 1 November 2023. On 15 December 2023, he was appointed as Chairman of the Audit Committee, a member of the Nomination and Remuneration Committee and a member of the Board Sustainability Committee.

Mr. Raymond Yeoh earned his degree in Economics and Social Studies from the University of Manchester, United Kingdom. He is a Fellow of the Institute of Chartered Accountants in England and Wales and a Chartered Banker.

He began his career at Deloitte Haskins & Sells, London in 1984 as an accountant and subsequently moved into banking. He held various positions in Singapore, Hong Kong and Malaysia including Joint Head of Asian Currency Trading at Merrill Lynch Singapore, Regional APAC Treasurer at Santander, Head of Treasury and Wealth Management at Hong Leong Bank and CEO of Deutsche Bank Malaysia. Raymond concluded his banking career at Bank of America Merrill Lynch Malaysia as Country Head, Chief Executive Officer and Principal Officer of its Labuan branch. He retired in October 2023. Presently, Mr. Raymond Yeoh is Chairman of CIMB Investment Bank Berhad and a Director at IGB REIT Management Sdn Bhd.

He is not related to any Director and/or major shareholder of the Company and does not have any interest in the securities of the Company and/or its subsidiaries.

Mr. Raymond Yeoh does not have any directorship in other public listed companies or listed issuers in Malaysia.

Corporate Governance

Board Charter
Board Diversity Policy
Director’s Code of Conduct
Nomination and Remuneration Committee: Terms of Reference
Audit Committee: Terms of Reference
Remuneration Policy and Procedures
Employee Diversity Policy
Corporate Governance Report 2023
Employee’s Code of Conduct & Ethics
Whistleblower Policy
Bribery & Corruption Prevention Policy
Fit & Proper Policy
Board Risk Committee Terms of Reference