Corporate Governance

PURPOSE JOINT VENTURE BETWEEN KONSORTIUM TRANSONIC (SABAH) SDN. BHD. AND HIZAM UNGGUL SDN. BHD.

The projects are managed through a joint venture involving three primary entities:

Hizam Unggul Sdn. Bhd.: Acts as the Asset Owner and Custodian of funds held at Bank of China (Hong Kong).
Transonic Jet Sdn. Bhd. (SPV): Acts as the authorized Implementation Partner, Mandate Holder, and Operator.
Konsortium Transonic (Sabah) Sdn. Bhd.: Serves as a Developer and Operator within the group.
National Oversight: The Government of Malaysia and the Ministry of Finance serve as the oversight and national alignment authorities.

All projects must be structured under specific investment and execution models:

Execution Models: Projects must utilize Public–Private Partnership (PPP) or Finance–Build–Operate–Transfer (FBOT) frameworks.
Zero Government Liability: All funding is fully private and driven by Foreign Direct Investment (FDI), imposing no fiscal or financial obligation on the Malaysian Federal or State Governments.

To provide assurance to banking partners and stakeholders, the following controls are in place:

Project-Based Disbursement: Capital is not released in a lump sum; it is released progressively only upon the verification and achievement of approved project milestones.
Monitoring Mechanism: Hizam Unggul Sdn. Bhd. supervises as the asset owner, while Transonic Jet Sdn. Bhd. monitors through internal compliance controls and independent external auditors.
Compliance Protocols: The group maintains full compliance with Bank of China (Hong Kong) custodial and fund-movement protocols.

Governance is further reinforced by a structured management team split into two divisions:

Corporate Division (Management Team): Includes specialized heads for Audit & Compliance (Hj. Nor Azam Yaacob), Finance & Treasury (Dato’ Sri Mohd Rossahizam Mat Sakin), and Corporate Strategy (Hj. Zainol Abidin Othman).
Project Division (Operation Team): Individual heads are assigned to specific sectors like Flight Operations, Food Security, and Infrastructure to ensure accountability at the project level.