Mymbn Berhad (Malaysia)

The Company was incorporated and domiciled in Malaysia under the CA 2016 on 31 March 2022 as a private limited company under the name of MYMBN Sdn. Bhd.
The Company is principally engaged in investment holding and through our subsidiaries, our Group is principally involved in the processing and sale of EBN.
Our Group's history began with the incorporation of Zaman Kuala Sdn Bhd on 31 December 2009 before it changed its name to MBN Enterprise on 24 August 2016. Zaman Kuala Sdn Bhd was set up by two (2) individuals with a paid-up capital of RM2.00 comprising two (2) ordinary shares. The directors and shareholders were Tee Lee Hon and Tan Kim Heng. Subsequently, on 8 March 2010, Tee Lee Hon and Tan Kim Heng resigned as directors and disposed of their one (1) ordinary share respectively to Mohd Asri bin Md Arshad and Fauziah binti Abdul Malek, and they were appointed as the directors of Zaman Kuala Sdn Bhd on the same day. These individuals were not related to our Group's Promoters, substantial shareholders and Directors. Under the directorship of Mohd Asri bin Md Arshad and Fauziah binti Abdul Malek, Zaman Kuala Sdn Bhd has not undertaken any business activities and remained dormant until 2012.
On 20 November 2012 when Liw Chong Liong, our Non-Independent Non-Executive Chairman and his business partner, Lee Keng Lip acquired respectively one (1) ordinary share each at a purchase consideration of RM1.00 each ordinary share in Zaman Kuala Sdn Bhd from Mohd Asri bin Md Arshad and Fauziah binti Abdul Malek. On the same day, Liw Chong Liong, Liw Chee Yen and Lee Keng Lip were appointed as directors of Zaman Kuala Sdn Bhd.
The company was acquired as part of Liw Chong Liong and Lee Keng Lip's intention of venturing into property development and land acquisition activities. However, the intended plans did not materialise and Zaman Kuala Sdn Bhd remained dormant until 2016.
In 2013, the authorities from Malaysia and the PRC began exploring the possibility of exporting RUCEBN directly to the PRC. During that time, Liw Chong Liong was already involved in the swiftlet farming business and saw this as an opportunity to export RUCEBN directly to the PRC. Between 2013 and 2016, Liw Chong Liong continued to study and explore the processes and procedures involved in the export of RUCEBN to the PRC.
In 2016, Liw Chong Liong approached Lavernt Chen and Lee Wei Kong, both of whom are also the members of the Melaka Bird's Nest Merchants Association (Persatuan Pedagang Sarang Burung Melaka) , to explore the possibility of venturing into the business of exporting RUCEBN directly to the PRC. Lavernt Chen and Lee Wei Kong have more than 20 and 15 years of experience respectively in the bird's nest industry, with Lavernt Chen involved in various segments of the bird's nest industry's supply chain, from swiftlet farming to processing and trading of EBN. Lavernt Chen was exposed to the bird's nest industry at a young age as his family had a swiftlet farming business. Prior to joining MBN Enterprise, he was a director and major shareholder of CVW Ventures, a company involved in the trading and sale of EBN. He represents the Melaka Bird's Nest Merchants Association (Persatuan Pedagang Sarang Burung Melaka) in the Federation of Malaysia Bird s Nest Merchants Association (Persekutuan Persatuan Pedagang Sarang Burung Malaysia). Lee Wei Kong, on the other hand has over 15 years of experience in bird's nest farming and related investments.
On 24 August 2016, Zaman Kuala Sdn Bhd changed its name to MBN Enterprise to venture into the midstream segment of the EBN industry, specifically in the processing and sale of RUCEBN. On 19 December 2016, Lee Keng Lip and Liw Chee Yen resigned as directors of MBN Enterprise and Lee Keng Lip disposed of his one (1) ordinary share in the company to Lee Wei Kong at RM1.00 on 23 December 2016. Lavernt Chen and Lee Wei Kong were also appointed as directors on 19 December 2016.
Lavernt Chen assumed an executive director role since his appointment in December 2016 where he was responsible for overseeing the daily operations of MBN Enterprise. On the other hand, Liw Chong Liong and Lee Wei Kong are the non-executive directors and they are not involved in the day-to-day operations of MBN Enterprise.
We commenced our business in January 2017 by focusing on serving customers from the local and selected overseas market, such as Hong Kong. In January 2017, MBN Enterprise shared premises with CVW Ventures known as Unit 17 and Unit 19, both located in Taman Melaka Raya, Melaka, Malaysia. Subsequently in April 2017, we rented the aforementioned units from CVW Ventures, which were then renovated to become our office-cum-processing facility. The renovation was completed in May 2017. In July 2019, we acquired Unit 17 and Unit 19 from CVW Ventures and the acquisition was completed in July 2020. In 2017, our estimated total annual processing capacity in Unit 17 and Unit 19 was 3,456 kg of RUCEBN.
Subsequently on 10 March 2017, Liw Chong Liong, Lee Wei Kong, Gentle Rainbow, MLCL Construction and CVW Ventures collectively subscribed for a total of 499,998 new ordinary shares in MBN Enterprise. The directors and shareholders of CVW Ventures were Lavernt Chen, Khaw Wai Meng and Wang Juan. On 30 November 2021, CVW Ventures disposed of 225,000 ordinary shares (representing its entire shareholdings) in MBN Enterprise to Lavernt Chen (135,000 ordinary shares in MBN Enterprise at RM135,000.00) and Wang Juan, spouse of Lavernt Chen (22,500 ordinary shares in MBN Enterprise at RM22,500.00), as well as Khaw Wai Meng (67,500 ordinary shares in MBN Enterprise at RM67,500.00) who is a non-related party to our Group. Subsequently, on 16 December 2021, Wang Juan and Khaw Wai Meng disposed of their respective 22,500 ordinary shares and 67,500 ordinary shares in MBN Enterprise at the sale consideration of RM22,500.00 and RM547,479.00 to Lavernt Chen.
To increase our processing capacity, we acquired the adjoining shop-offices known as Unit 23 in December 2017 and Unit 21 in January 2018 from a non-related party. The acquisition of Unit 21 was completed in June 2018 while the acquisition of Unit 23 was completed in April 2021. While pending completion of the acquisition of Unit 23 which was subject to the State Consent, we rented Unit 23 from the owner, a non-related party from November 2019 to April 2021.
Our Group is cognisant of the needs to ensure the quality of our products and we have undertaken continuous efforts to that effect from the onset. In January 2019, we received the VHM Certificate from the DVS which certifies that our processing operation complies with the required quality standards for animal-based processing companies. The certification is compulsory for companies that export animal products out of Malaysia. We subsequently received the GMP Certificate and MeSTI certificate both from MOH in April 2019 and May 2019, respectively.
The GMP Certificate is accredited to companies which have complied with a set of established guidelines that control the operational conditions within a food processing establishment allowing for the production of safe food, while MeSTI certificate is accredited to companies involved in the manufacturing of food products and have developed and implemented food safety assurance programme that meets safety requirements.
In August 2018, GACC has registered MBN Enterprise as an overseas manufacturer of imported food which approval was subsequently granted in September 2019. The approval from GACC in September 2019 marked a major milestone and MBN Enterprise became the first company in Malaysia to export RUCEBN to the PRC. This was soon followed by our first shipment to the PRC in November 2019, where 150 kg of RUCEBN was delivered to a customer in Qinzhou, PRC. Subsequently, in the same month, MBN Enterprise delivered 312 kg to a customer in Xiamen Province, PRC. In December 2019, MBN Enterprise shipped 156 kg to a customer in Dalian City, PRC
With the GACC approval and the bigger operating spaces, we made further improvements to our production workflow which resulted in an increase in our estimated annual processing capacity to 10,368 kg of RUCEBN in year 2020. In addition, we also invested in a customised heat treatment machine which is used to apply heat to the bird's nests to eliminate potential viruses, such as Newcastle Disease and Avian Influenza from the bird's nests.
In 2020, we exported our largest shipment to the PRC, weighing 1,010 kg of RUCEBN. The shipment was marked with a launching ceremony officiated by the Director General of the DVS. We were also accepted as a member of the Bird Nest Credit Alliance of Registration and Certification. In the same year, we expanded our operation by acquiring an additional adjoining corner shop office known as Unit 25. The additional shop office allowed us to streamline and improve our operation flow.
In 2021, we expanded our drying and packing area to cater to the increased demand. The completion of the expansion resulted in an increase in our estimated annual processing capacity to 18,432 kg of RUCEBN.
In 2022, we commenced operation of our first collection centre in East Malaysia in Kota Kinabalu, Sabah. In the same year, our estimated annual processing capacity is 23,040 kg of RUCEBN.
In 2023, we successfully exported our first batch of RUCEBN to Vietnam. We also obtained HALAL certification for our RUCEBN and obtained the renewed approval from the GACC to export RUCEBN to the PRC.