Maggie Lau

Promoted 2 times from Jan'15 – Present:

1) Head of Finance (Jan'15 – Aug'15: 8 months)

2) Finance Director – SEA (Sep'15 – Feb'17: 1.5 years) - Promotion

3) Finance Director – APAC (Mar'17 – present) - Promotion

• Reporting to: CFO
• Managing a team of 20 staff ( 15 active entities across 11 countries : Malaysia, Singapore, Thailand, Philippines, Indonesia, Korea, India, Bangladesh, Vietnam, Sri Lanka & Japan) - Team in charge for all Opex AP recordings & payments

Job Functions:

• Successfully managed multiple audits, ensuring accurate financial information was presented to external parties without discrepancies or delays.
• Enhanced stakeholder communication by producing clear, concise, and timely financial reports that supported informed decision-making.
• Spearheaded the implementation of new accounting software solutions, improving data accuracy and streamlining operations across departments.
• Managed company cash flow by monitoring daily transactions and optimizing working capital.
• Led successful negotiations with banks like HSBC & SCB, resulting in higher FD interest income, lower bank charges and improved cash flow for the organization.
• Facilitated process improvements by automating manual tasks, increasing efficiency within the finance function.
• Implemented internal controls for enhanced compliance with regulatory requirements and reduced errors in reporting.
• Enhanced internal control systems and procedures to mitigate risk and support opportunities.
• Reduced operational costs by renegotiating key contracts with suppliers, focusing on more favorable terms.
• Achieved significant tax savings by identifying and applying for relevant tax incentives and credits.
• Guided finance team during annual audits, resulting in consistently clean audit reports.
• Played pivotal role in acquisition process, conducting due diligence and financial analysis that led to successful integrations.
• Bank signatories for all 15 entities & also holding Director position for Malaysia & a few oversea companies

Achievements in ADA in 10 years:

1) Successfully cleaning up of 1 year of back logs in 3 months' time for Malaysia, Hong Kong & Vietnam entities (including closing off 3 years' audits for Hong Kong entity & 2 years' audit for Vietnam entity)

2) Successfully implemented GST for 2 Malaysia entities in a tight deadline

3) Leading Microsoft D365 implementations for:

• Year 2021 - Implemented for 11 entities in 6 months time
• Year 2022 - Implemented for 3 entities in 3 months time (more complicated as these are 3 new entities involved in eCommerce business & newly acquired in mid June 2021)

4) Achieved USD3.5m of FD interest income for the company in 2024 (exceeded the Level 5 KPI set of USD3m)

5) Renegotiate a lower bank charges from HSBC (60% of saving)

• Reporting to : Finance Director (based in Belfast, UK)
• Managed 3 subordinates :· 1 Accounts Assistant, 1 Human Resource Administrator and 1 Admin Assistant.
• Reason for leaving: Being head-hunted by previous superior from SLA Mobile to join ADA

Job Functions:

1) Responsible for leading and supervising all financial reporting, management reporting, taxation, auditing and all other operational finance processes and systems:

• Supervise and lead all accounting activities to ensure timely closing of month end accounts.
• Analyze records of financial transactions to determine accuracy and completeness of entries.
• Ensuring all group reporting requirements are adhered to on a monthly and quarterly basis.
• Leading year end audit process.
• Preparation of tax computation and required schedules.

2) Business Analysis – budgeting and forecasting

• To pro-actively identify key issues, risks and opportunities and to make recommendations to the management on financial and non-financial decisions.
• To conduct and provide input to the management for annual budgets and quarterly forecasting.

3) Design, plan, implement and improve the accounting & financial policies and procedures – ensuring the efficiency, effectiveness, integrity & business focus of financial systems & processes.

4) Cash flows management – to prepare a 6 months cash flow forecast, ensuring sufficient cash is maintained for working capital and liaise closely the banker for additional credit facilities (if needed).

5) Overseeing also the daily operations in Admin and Human Resource departments.

6) People management and development - Responsible to supervise, guide and coaching the subordinates in their respective job functions and ensure the department operation is running smoothly

7) Close liaison with bankers, auditors, directors, government regulatory bodies, company secretary and tax agents on behalf of the Company

8) Ensure compliance with accounting standards, taxation regulations, banking practices, and other regulatory requirements.

Achievements:

1) Successfully implemented all the internal Standard Operating Procedures after joining the company in 2009 – SOP for Finance Payment processes, Business Travel policy and procedures, Office Security policy and etc.

2) Successfully setting up and ensure the smooth operation of new accounting system – NetSuite & OpenAir (chart of accounts, structure of the cost centres, system modules set-up, reporting templates and etc) in 2013.

• Promoted from Assistant Finance Manager (contract) to Finance Manager (permanent) after 9 months
• Reporting to: Financial Controller
• Managed 3 subordinates: 1 Accountant, 1 Accounts Executive and 1 Accounts Assistant
• Reason for leaving: Company being restructured and acquired by a bigger Pharmaceutical company – GSK in 2009

Job Functions:

1) Responsible for management of all aspects of financial/corporate accounting functions inclusive of financial planning, financial reporting, budgetary controls, treasury, funding, tax planning and management, forecasting & etc.

2) Responsible for supply chain and inventory management:

· Liaising with Marketing, Sales and Regulatory to obtain sales forecast and communicating with Global Supply Chain and Distributor to ensure that there is adequate inventory to meet sales demand whilst ensuring that inventory levels are not excessive.

· Ensuring that weekly & monthly demand planning reporting requirements are adhered to.

· Ensuring that proper systems, processes and controls are in place in relation to inventory management.

3) Budgeting and forecasting – to ensure corporate budgets are monitored and controlled on regular basis.

4) Cash management, cash flow reporting and other related analysis.

5) Constantly identifying and improving on all financial systems, processes and controls to ensure that UCB's assets are safeguarded at all times. To maintain and upgrade current computerised accounting system in order to accommodate the expansion needs of the Group.

6) Preparation of yearly Corporate Tax for Malaysia and Singapore (actual and estimation).

7) To liaise with external parties e.g. auditors, tax agents, bankers, company secretary, etc.

8) Supervises, guides and develops Accountant, Accounts Executive and Accounts Assistant – ensure effective development and deployment of Finance talent.

Achievements:

1) Successfully setting up and ensure the smooth operation of new accounting system – ACCPAC myself 2 months after joining the company (end of 2004).

2) Implementation of the internal Standard Operating Procedures after the company incorporation in 2004 – SOP for Supply Chain, SOP for Limit of Authorisation and payment process (quotation, Purchase Requisition and Purchase Orders) – ensure the implemented proper procurement process are working properly for both Malaysia and Singapore entities (2005 – 2006).

3) Initiated the rectifying work of incorrect Singapore Goods and Service Tax computation done before the business transfer – actively deal with Singapore Ernst & Young tax agents and IRAS to get the issues resolved (end 2007).

4) Effective in managing the stocks level to avoid holding too high or too low stocks level, improve the communication between the various departments (sales, marketing, regulatory, finance and the global supply chain) in forecasting the demand (2005 – 2008).

5) Coordination between Regulatory, Sales, Marketing and Global Supply Chain to ensure the successful launching of a new products – important to ensure the new medicine (in terms of ingredients, product insert, product packaging) are being approved by the local health authority and registered locally as per planned, sufficient ordering of first shipment from Global supplier and delivery on time after the approval and before the launching (on-going).

• Major job function : providing a well-balanced understanding of both business requirements & technical solutions, i.e. analytical, methodical & resourceful approach to problem-solving, identifying & documenting root causes & corrective actions to meet short- & long-term business & system requirements.
• Reporting to : Commercial Manager.

Job functions :

1) Business Review & Planning via monthly forecast & reporting to ensure that monthly targets are reached.

• Ensure the annual financial plan set by HQ in UK (BOC Group-British Oxygen Corporate) is working accordingly.
• Pricing review every quarter to decide which products to have the potential to be improved in financial term.
• Ensure appropriate use of methodology & tools

- Segmental analysis of customer base

- Detailed understanding of the cost base

- Price Volume Curves-prepared monthly on major products

- Presentation in every department's meeting every quarter for the Best Commercial Practice awareness.

• Meeting with Business Manager to make sure their targeted profit is achievable every quarter.

- Provide analysis on every major products & problem areas as & when the Business Manager required.

2) Preparing & setting a detailed, dynamic Pricing Strategy that supports Business Strategy (Major annual project)

3) Effective Internal communication of pricing policy & increases to enable customer facing staff to present a confident consistent message to the customers

4) Appropriate use & control of contracts

5) SAP Key Performance Indicators monitoring

6) Actively involve in all the communication area, act as an administrator for every projects, which will involve a few departments.

Assistant Accountant (1 year) – Promoted from Accounts Assistant to Assistant Accountant within 1 1/2 years (June 2001 – December 2003)

• Company profile : One of the world's largest research-driven Nutritional & Pharmaceuticals Multinational Company. It is a leader in the discovery, development, manufacturing & marketing of pharmaceuticals, vaccines, biotechnology products & non-prescription medicines that improve the quality of life for people worldwide.
• Reporting to: Accounting Manager.
• 2 Accounts Assistant reporting to me.
• Mainly handling 2 countries – Singapore & Vietnam full sets of accounts.