Virginia Chan
About Virginia Chan
Independent director of Technology & Telecommunication Acquisition Corp. (TETE); Chair of the Compensation Committee and member of the Audit Committee, each under Nasdaq independence standards . Former KPMG auditor with MICPA qualification; senior finance roles across energy and infrastructure (Wood Group Kenny, Aker Solutions/Kvaerner, Wahab Khalid Consultants) and corporate roles at Capital Improvement and Flagship PMC (CEO/Director) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Flagship PMC Sdn Bhd | CEO & Director | Mar 2018–present | Leads investor liaison and project financing; adds operating finance expertise |
| Capital Improvement Sdn Bhd | Personal Assistant to Group President | Jan 2015–Feb 2018 | Supported JV financial leads and project management; cross-functional coordination |
| Wood Group Kenny Sdn Bhd | Financial Controller | Aug 2008–Dec 2014 | Controlled finance in energy services; governance over financial reporting |
| Aker Solutions (Kvaerner PetrOMinco Eng.) | VP Finance & Administration | Aug 1996–Apr 2003 | Management team member overseeing finance/admin; operational controls |
| Wahab Khalid Consultants Sdn Bhd | Consulting Manager | Sep 1993–Jul 1996 | KLIA project finance; government liaison; large-project governance experience |
| KPMG | Supervisor (Audit/Tax) | Dec 1981–Mar 1989 | MICPA qualification; broad audit/tax across industries; foundational controls expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Financial Planning Association of Malaysia (FPAM) | Member | Since Jan 2003 | Professional finance accreditation; continued standards adherence |
| Flagship PMC Sdn Bhd | CEO & Director | Mar 2018–present | Private company leadership; potential deal/investor network access |
Board Governance
- Committees and roles:
- Compensation Committee: Chair; independent under Nasdaq rules .
- Audit Committee: Member; independent; committee oversees auditor selection, financial reporting integrity and internal control .
- Nominating governance: No standing nominating committee; independent directors (including Chan) recommend director nominees in line with Nasdaq Rule 5605 .
Fixed Compensation
| Component | Amount/Policy | Notes |
|---|---|---|
| Annual retainer (cash) | $0 | No compensation of any kind paid to directors prior to consummation of an initial business combination |
| Committee membership fees | $0 | Same pre-business combination policy |
| Committee chair fees | $0 | Same pre-business combination policy |
| Meeting fees | $0 | Same pre-business combination policy |
Performance Compensation
| Metric/Instrument | Structure | Vesting | Detail |
|---|---|---|---|
| Equity awards (RSUs/PSUs) | None pre-business combination | N/A | Company states no compensation of any kind prior to consummation |
| Stock options | None pre-business combination | N/A | Same policy |
| Performance metrics (TSR, EBITDA, ESG) | Not applicable pre-business combination | N/A | Compensation Committee role largely deferred until post-transaction |
Other Directorships & Interlocks
| Company | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| Flagship PMC Sdn Bhd | Private | CEO & Director | No disclosed related-party transactions with TETE involving Chan; no public company interlocks disclosed |
Expertise & Qualifications
- MICPA-qualified finance professional with Big Four training (KPMG) across audit and tax; broad cross-industry exposure .
- Senior financial leadership in energy and infrastructure; oversight of finance, administration, project finance and governance in complex environments .
- FPAM member; evidences ongoing professional standards .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Source |
|---|---|---|---|
| Virginia Chan | None disclosed (listed as “-” in beneficial ownership tables) | 0% | Latest DEF 14A beneficial ownership table shows Chan with “-” in director group; outstanding shares: 5,975,740 as of Dec 31, 2024 |
Governance Assessment
- Strengths:
- Independent status with dual roles (Audit member, Compensation Chair) positions Chan to influence controls and pay design post-transaction .
- Deep finance and audit background enhances board effectiveness on oversight of reporting and internal controls .
- Weaknesses/RED FLAGS:
- No director compensation pre-transaction and no disclosed share ownership reduce immediate “skin-in-the-game” alignment for a SPAC; Chan shown with no beneficial ownership in proxy tables .
- Limited disclosure on attendance and engagement metrics (not provided in available filings) – data gap.
- Contextual risks:
- SPAC structure and sponsor economics can create misaligned incentives; proxies disclose significant sponsor interests relative to public shares (founder shares and private placement units), though not attributed to Chan personally .