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Board & Leadership Team

Board of Directors

Dato’ Wan Asmadi Wan AhmadIndependent, Non-Executive Chairman

Appointed 30 June 2022, elected Chairman effective 30 June 2022.

Dato’ Wan brings more than 25 years of investment banking and corporate advisory experience with some of Malaysia’s leading financial institutions. He is currently the Managing Principal of DWA Advisory Sdn Bhd (DWA), a corporate finance advisory firm he established in 2013, licensed by the Securities Commission Malaysia. Prior to DWA, Dato’ Wan spent close to a decade in various senior executive positions with Maybank Investment Bank Berhad, culminating in his appointment as Chief Operating Officer of the bank’s Saudi Arabia division in 2009.

He is currently one of the nine members of the Market Participants Committee of Malaysia’s national securities exchange, Bursa Malaysia. He is also the current Chairman of the Association of Corporate Finance Advisors (Malaysia) and a Corporation Member of Pahang State Development Corporation.

Dato’ Wan holds a Bachelor of Business Administration (1989) and a Master of Business Administration (1996) from Temple University in Philadelphia, United States of America.

Mr Lee Chin WeeManaging Director

Appointed 8 September 2014, elected Interim Chairman on 8 July 2020 (term ended 30 June 2022), appointed Managing Director effective 30 June 2022.

Lee Chin Wee is a founding shareholder and a director of IOUpay Limited.

Mr. Lee has over 20 years of experience in the Fintech space, mobile payments, mobile banking solutions, digital marketing, and the telecommunications industry. Formerly, he was a business consultant of Accenture focusing on telecommunications billing systems, product development and revenue assurance.

Mr. Lee holds a BEng (Hon., 1st Class) degree in Electrical Engineering from University College, London, and a Master of Business Administration (MBA) from University of Malaya.

Kwong Yang Chong Independent Non-Executive Director

Kwong Yang Chong is of Australian nationality. He has substantial experience in finance and accounting and is a CPA Australia member. Kwong Yang Chong's relevant experience includes:

  • Audit manager at Ernst & Young for ten years
  • Financial controller of a leading commercial advertisement production Group in Malaysia for 10 years
  • Corporate Finance Manager in Eaton Industries Australia, a member of Eaton Corporation, a Fortune 500 company listed in US, from 2009 to 2014
  • Chief Financial Officer of Donaco International Ltd (an ASX listed company) from 2015 to Jan 2020

Datuk Khairul Idham Bin Ismail D.P.S.M. Independent Non-Executive Director

Datuk Khairul is a lawyer by profession and was called to the Malaysian Bar in September 2000. He holds a LLB (2nd Class Upper Division) from King’s College, London and a Certificate in Legal Practice (C.L.P.) from the Legal Profession Qualifying Board of Malaysia.

Datuk Khairul started his legal career with Messrs David Chong & Co in 2000 before joining the Corporate Secretarial and Legal Department of MMC Corporation Berhad in January 2003. In 2006 Datuk Khairul joined Messrs Naqiz & Partners and was promoted to become its Managing Partner in 2015. Datuk Khairul’s experience in the legal industry includes all corporate & commercial matters, capital markets, Islamic banking & finance, construction and real estate transactions, infrastructure and projects, corporate restructuring, public-private partnerships, privatisation and intellectual property.

Datuk Khairul is also an Independent Non-Executive Director of Niche Capital Emas Holdings Berhad (“Niche Capital”) since 26 May 2015. Niche Capital is a public listed company on Bursa Malaysia Securities Berhad and is principally involved in construction, property investment and jewellery trading. Datuk Khairul was re-designated as the Chairman of the Board of Niche Capital on 29 May 2017.

Byung Moo Shin Independent Non-Executive Director

Mr Shin is a commercial lawyer by profession holding an LLB, Bachelor of Commerce & Bachelor of Laws from The University of Sydney (2011) and having been admitted as a Lawyer of the Supreme Court of New South Wales by the NSW Legal Profession Admission Board in 2012.

Mr Shin specialises in institutional investment and asset management, specifically inbound and outbound South Korean investment across a diverse range of industries. Mr Shin has a strong passion for the financial technology sector and has held senior executive roles with Trihill Partner Investment Management and Hangang Asset Managment in Seoul, South Korea and Manhattan, New York.

Paul Russell Executive Director

Paul Russell brings 15 years of institutional banking experience with Australia’s leading financial institutions as a senior structured asset finance practitioner. Operating out of Sydney, he originated and executed transactions for large corporates, governments and institutional relationships across Australia and the Asia-Pacific region. Ranging from big-ticket capex funding for mining, aviation and marine equipment through to portfolio finance for specialised non-bank financial institutions, Paul’s transaction and relationship experience has covered a range of industries, jurisdictions, regulatory frameworks and credit profiles. In his previous role as Director, Structured Asset Finance at Westpac Institutional Bank, Paul was involved in building a portfolio of direct and third-party originated receivables, relationship management, product development, credit structuring & evaluation, and growing the bank’s Debt Capital Markets business. His work included a number of portfolio acquisition opportunities in addition to ongoing funding of new business.

Paul holds a Bachelor of Economics from the University of Sydney (1990) specialising in accounting and econometrics.

Senior Executives

Kenneth KuanChief Financial Officer (CFO)

Kenneth Kuan brings 20 years of commercial and corporate law, finance industry management and regulatory compliance and mergers and acquisition experience from Malaysia, South East Asia and Australia. He holds a Bachelor of Law (LLB) Hons (1997) from the University of South Wales, United Kingdom specialising in Corporate Law. He commenced his career in 1998 as Head of Credit and Receivables with the largest Malaysian publicly listed non-bank finance company AEON Credit Berhad (formerly known as ACS Credit Sdn Bhd) before working as a senior consultant with Ernst & Young Malaysia where he had responsibility for corporate turnarounds, restructures and mergers and acquisitions for 5 years.

Kenneth Kuan also brings a depth of experience in Malaysian debt capital markets, legislative and regulatory issues to assist companies achieve funding and regulatory compliance requirements.

Lau Teck HuatChief Technical Officer (CTO)

Lau brings 22 years of system integration with network management and complex problem solving to IOUpay. After 16 years of integrating and managing front and back end systems in the stockbroking industry including 6 years as IT Manager for leading international financial data and terminal provider DZH International, Lau was appointed Head of System and Network Infrastructure of iPay88 - Malaysia’s largest payment gateway and financial solution provider where he worked with IOUpay’s CEO KL Khong for 6 years.

Lau brings detailed knowledge and relationships to IOUpay having worked closely with all the major e-wallet and digital cash providers in SEA including Grabpay, Alipay and WeChat and has managed system integration and operations with all the major merchant point-of-sale platforms in SEA including VisaCheckout and Master Card’s MasterPass.