Board of Directors

Chairman

Y. Bhg. Tan Sri Datuk Seri (Dr) Foong Cheng Yuen has been the Chairman of OFS since 16 August 2016.

Tan Sri Datuk Seri graduated from the University of London with LL.B. (Honours) in 1969 and was called to the English Bar by the Honourable Society of the Inner Temple in 1970. He was conferred a honorary Doctorate of Laws degree by the University of the West of England in 2011.

Tan Sri Datuk Seri led an illustrious career as a High Court Judge at Kuala Lumpur (Criminal Division), Johor Bahru, Shah Alam, Kuala Lumpur (Civil Division), Ipoh and Kuala Lumpur (Family Division and Civil Division). Tan Sri Datuk Seri was elevated to the Court of Appeal in 2005 and subsequently elevated to the Federal Court (Malaysia Supreme Court) in 2009. As a Federal Court Judge, he was made a Managing Judge of the Civil Division of the High Court at Kuala Lumpur and of the High Court and Subordinate Courts in the State of Penang. He retired from the Malaysian Judiciary on 25 February 2012.

While in practice, Tan Sri Datuk Seri served as a legal adviser to numerous guilds and associations in Malaysia. He currently serves as an independent director of several companies including Genting Berhad, OWG Group Berhad, Paramount Corporation Berhad, Bina Puri Properties Sdn Bhd and Legal Plus Sdn Bhd. He was also made Bencher of the Honorable Society of the Inner Temple, London in 2009. He was called to the Malaysian Bar as an advocate and solicitor in 1971. He was engaged in private legal practice in both criminal and civil law, majoring in insurance law from 1971 to 1990.

Tan Sri Datuk Seri also holds the following positions:

  • Arbitrator of the International Court of Arbitration of the International Chamber of Commerce (ICC)
  • Arbitrator of the Kuala Lumpur Regional Centre for Arbitration
  • Senior Consultant to the China Asean Legal Cooperation Centre based in Hainan, Peoples’ Republic of China
  • Advocate & Solicitor of the High Court of Malaya
  • Trustee of the Community Chest of Malaysia

 

Deputy Chairman

Y.Bhg. Tan Sri Dato’ Sri Tay Ah Lek has been the director and deputy Chairman of OFS since December 2004.

Tan Sri Dato’ Sri is currently the Managing Director and Chief Executive Officer of Public Bank. He joined Public Bank as a pioneer staff in 1966. Prior to his present designation in Public Bank, he was the Executive Vice-President of the former Public Finance, then the Executive Vice-President and Executive Director of Public Bank. He has immense experience in the banking and finance industry for 56 years.

Tan Sri Dato’ Sri graduated from Henley, United Kingdom with an MBA and attended the Advanced Management Program at Harvard Business School. He is an Emeritus Fellow of the Malaysian Institute of Management. He is also a Fellow of the Chartered Banker of the Asian Institute of Chartered Bankers, a Fellow of the CPA Australia and the Financial Services Institute of Australia.

He is also the Chairman of the Association of Hire Purchase Companies Malaysia and a director of Cagamas Holdings Bhd and ASEAN Finance Corporation Ltd.

Non-Executive Independent Director

Y. Bhg. Tan Sri Dato’ Sri Zaleha binti Zahari has been the director of OFS since July 2017.

Tan Sri Dato’ Sri Zaleha qualified as a Barrister-at-Law, Middle Temple, London in 1971 prior to joining the Judicial and Legal Service. She also holds a Certificate in Legal Drafting from the University of London.

In the 20 years of her service in the Judicial and Legal service, she had served inter alia, as a Magistrate, Senior Assistant Registrar of the High Court, Deputy Public Prosecutor as well as Legal Adviser to the Ministry of Education, the Economic Planning Unit, the Ministry of Home Affairs as well as the Department of Inland Revenue. She was the Head of the Civil Division in the Attorney General’s Chambers prior to being appointed as a Judge of the superior court.

Tan Sri Dato’ Sri Zaleha was appointed as a Judicial Commissioner and subsequently as Judge of the High Court, then Court of Appeal Judge and thereafter, appointed as the Federal Court Judge in 2012. She retired from the Malaysian Judiciary in November 2014.

Currently, Tan Sri Dato’ Sri Zaleha serves as an Independent Non-Executive Director of Genting Plantations Berhad. She is also the Chairman of the Operations Review Panel of the Malaysian Anti Corruption Commission.

Non-Executive Independent Director

Ms Sujatha Sekhar Naik has been appointed as an Independent Director of OFS since September 2020.

She is a senior capital markets professional whose experience encompasses policy and strategy development, governance, compliance, and dispute resolution. She is the Managing Partner and Principal Consultant of SSN Consult Plt. With over 30 years of experience in legal and capital market work, Sujatha brings a depth of experience and a practical and holistic understanding of financial markets, the regulatory framework and investor concerns and challenges.

She served as CEO of the Securities Industry Dispute Resolution Center (SIDREC) from 2013 to 2019. As CEO, she helped steer SIDREC’s dispute resolution service to be at par with international best practice and in step with developments in the capital market.

Her prior work as a regulator at the Securities Commission Malaysia (SC), included advisory and reform work in both the General Counsel’s Office and the Corporate Finance and Investments Business Group. She was involved in SC’s major policy and reform work and responsible for the development and implementation of the investor education strategy and management of complaints on market misconduct.

Sujatha obtained her LLB (Hons) degree from the University of London and was called to the Bar of England and Wales in 1989 and re-qualified with the Law Society of England and Wales as a Solicitor in 1990. She was called to the Malaysian Bar in 1998 and is an accredited mediator and certified trainer and coach of the Bar Council’s Malaysian Mediation Centre.

Sujatha is currently a member the Board of Governors of the Malaysian Institute of Corporate Governance (MICG) and an Associate Director with RAA Capital Partners Sdn Bhd.

Non-Executive Independent Director

Dato’ Dr. Paul Selva Raj has been appointed as an Independent Director of OFS in September 2020. He is currently the Secretary General and Chief Executive Officer of the Federation of Malaysian Consumers Associations (FOMCA), and the Chief Executive Officer for the National Consumer Complaints Centre (NCCC) as well as the Consumer Research and Resource Centre (CRRC).

Dato’ Dr. Paul oversees consumer advocacy, education, complaints, and research to strengthen consumer protection and consumer welfare. He has been involved with the consumer movement for more than 30 years. He represented FOMCA in various task forces and consumer areas including cost of living, healthcare, financial literacy, public transport, consumer education, and consumer laws. He was the member of the National Economic Council under the previous administration.

Dato’ Dr. Paul is currently the Chief Editor of the Ringgit, a monthly bulletin focusing on financial education as well as the chief editor for the CRRC Review, a journal on enhancing research on consumer issues. He was the second editor of the book, “Consumer Issues in Malaysia: Strengthening Consumer Protection and Enhancing Consumer Empowerment”.

He was a senior lecturer in Psychology at a private university and was the Executive Director of Yayasan SALAM Malaysia, an NGO promoting voluntarism and civil society involvement amongst Malaysian citizens. He had served as the Head of Research for the Institute for Policy Research (IKD), a think-tank focusing on social policies and consumer related issues.

He possesses a PhD in Business Administration from Open University Malaysia, Masters in Psychology from Universiti Malaya and B.Sc. (Agribusiness) from Universiti Pertanian Malaysia.

Non-Executive Non-Independent Director

Y. Bhg. Datin Veronica Selvanayagy has been the director of OFS since October 2011.

Datin Veronica was called to the Bar in 1991 and was in practice for a period of 6 years handling both litigation and conveyancing matters. She subsequently joined the insurance industry as Head of the Legal team of AIA Malaysia. She has more than 20 years’ experience and expertise in the local insurance industry that includes corporate mergers and acquisitions, joint ventures and general consultation. She also had legal responsibilities for the AIA entities in India, Sri Lanka and Indonesia.

Datin Veronica is currently the General Counsel and Exco member of AIA Malaysia overseeing the legal, company secretarial, investigation, corporate governance, corporate security, business continuity and occupational safety functions for AIA Bhd, AIA Public Takaful, AIA Health Services Sdn. Bhd. and AIA Pension Asset Management Sdn. Bhd. Datin Veronica is also active in the legal field and local insurance industry where she holds the following positions:

  • Chairperson of Competition Act Task Force, Life Insurance Association of Malaysia (LIAM)
  • Member of the Disciplinary Committee, Malaysian Financial Planning Council (MFPC)
  • Member of the Administration and Finance Committee, Life Insurance Association Malaysia (LIAM)

 

Non-Executive Non-Independent Director

Mr Antony Lee has been the director of OFS since December 2017.

He has been the Chairman and the Chief Executive Officer of AIG Malaysia Insurance Berhad since October 2013. Currently, he is also the Chairman of PIAM.

Mr Antony Lee has been in the insurance sector for more than 16 years. Since joining AIG in 2001, he has been instrumental in various operational disciplines including as a CEO of AIG’s first Global Services Hub located in Malaysia and Regional Vice President of Commercial and Consumer Businesses in the Asia Pacific Region.

Prior to AIG Malaysia, Mr Antony Lee served as the Chief Executive Officer of AIG Vietnam where his responsibilities included the development of one of AIG’s growth countries in Asia Pacific.

Non-Executive Non-Independent Director

Ms Kalpana Sambasivamurthy has been appointed as a Non-Executive Non-Independent Director of OFS since July 2018. She is the Executive Director of The Association of Banks in Malaysia.

Ms. Kalpana spent a decade in legal practice and thereafter moved into the corporate arena. She has more than 18 years experience advising on complex mergers & acquisitions, banking matters and general corporate matters.

Ms Kalpana holds LLB (Hons) from University of The West of England, Bristol and a Masters in International Relations from The University of Nottingham.

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