Darmendran Kunaretnam

Darmendran Kunaretnam, age 61, a Malaysian, is the Group Chief Executive of Safeguards, Group Managing Director of Rex Industry Berhad and Executive Director of Kejuruteraan Samudra Timur Berhad. He graduated from Universiti Kebangsaan Malaysia with a Business Degree majoring in Accounting. He is also a member of Malaysian Institute of Accountants and Malaysian Institute of Certified Public Accountants. He spent 10 years as a Group Manager in the Audit Division of international public accounting firm from 1985 to 1995.

He joined Gold Bridge Engineering & Construction Berhad ("Gold Bridge") as the General Manager of Finance and Corporate Planning Division in 1996 and successfully listed Gold Bridge on the main board of Bursa Malaysia Berhad. Mr Darmendran went on to restructure and list Safeguards Corporation Berhad ("Safeguards") on the Bursa Malaysia Berhad in June 1997. He was later appointed to the Board of Safeguards in August 1997.

In 2003, Darmendran successfully merged Safeguards and Securicor, the two largest security companies in Malaysia to become Safeguards Securicor. He then grew the merged entity to be the biggest Cash Management player in the country that even saw the NCR Malaysia exiting the ATM managed services business in Malaysia. In 2007, Darmendran together with his partner took Safeguards private and delisted the Company.

He was appointed to the Board of Kejuruteraan Samudra Timur Berhad as Non Executive Director on 26 February 2009 and was then re-designated as Executive Director on 24 August 2009. Mr Darmendran has successfully executed joint ventures for Samudra Oil Services in the countries such as Indonesia with partners PT Asia Petrocom Services, United Arab Emirates (Abu Dhabi) with partners Emirates Petroleum, Vietnam with partners Petro Vietnam and venturing to Myanmar soon.

In 2008, Darmendran went to acquire the largest security services provider company in Cambodia, MPA International Ltd which was Safeguards first acquisition outside Malaysia in 2008. In late 2014, Safeguards made its second acquisition in Cambodia, namely G4S Cambodia, now known as Safeguards Cambodia with a staff strength of 1000 men which is currently second largest security service provider after MPA International.

Safeguards Corporation Sdn Bhd ("Safeguards") joint ventured with Dai An Security Services in Vietnam and the joint venture company Dai An Safeguards received the license to operate in Vietnam with approval in July 2013 from the Ministry of Planning and investment Vietnam. In January 2014, Daian Safeguards commenced operations in Vietnam. In February 2014, Safeguards entered into a Joint Venture Agreement to conduct security related business in Myanmar under the under the name Bholat Safeguards. In May 2014, the Company commenced operations.

In November 2016, Safeguards ventured into Sri Lanka through its acquisition of Security Consultants & Investigators International (PVT) Ltd which is now re-named to Lanka Safeguards. In late 2019, Safeguards made their entry into Thailand through the acquisition of Security Powell Company Limited now renamed to Security Team Safeguards (Thailand) Company Limited. In 2021, Safeguards acquired PT Manggala Kencana Jaya which is currently in the process of being re-named to PT Safeguards. In early 2023, Safeguards acquired William Secure Solutions.

Mr. Darmendran is a key participant in the Malaysian education sector and Executive Director of Saito University College Sdn Bhd. The University hosts to the population of more than 2000 students in the school, business and Security management and Design. The students of Saito University have the opportunity to study Design School which incorporates Interior, Graphic and Multimedia design or to their Academy of Security Management, School of Human Resource Management and Logistic Management. Safeguards is also involved in Fleet Management and leasing business through Safworks Sdn Bhd. The business of warehousing, freight forwarding through sea, land, air and also its haulier business is undertaken by its wholly owned subsidiary, Safeguards Oceanic Holdings Sdn Bhd. A business that Safeguards acquired in 2005.

On 3rd March 2015, he joined Rex Industry Berhad as the Group Managing Director. After a lapse of 12 years from the Security/Cash Business, Darmendran took on the role as Executive Chairman of Safeguards G4S in January 2019 to drive the cash business to new level. Safeguards G4S Sdn Bhd, a 51% owned subsidiary involved in Security and Cash Management Services. Since then, the Company has grown the bulk cash business (an alternative or complimentary business to cash in transit) with an install base of 2800 machines nationwide with connectivity to five local banks, a Cash Management Solution that is unique from Safeguards. Together with these 2800 own devices and close to 7000 ATMs / CRMs / CDMs belonging to Banks, Safeguards manages 9000 plus electronic payment / deposit devices for banks in Malaysia via its 27 cash centres nationwide, which also serve as Cash Processing Centres for Banks.

In summary, Darmendran grew Safeguards from its humble beginning of Guarding and Cash In Transit to :-

  • Cash Management covering ATM Managed Services (from replenishment monitoring, cash forecasting, first line maintenance and cash supply), Cash Processing and Switching Services (switching of currency notes between banks matching demand and supply).
  • Distribution and Maintenance Business – mainly distribution and maintenance of Hitachi Omron Cash Recycling machines and Cash 360 from G4S Deposita.
  • Logistic & Warehousing – air, sea and land transportation business inclusive of forwarding, custom clearance expertise and warehousing.
  • A nationwide comprehensive fleet management service provider with owner operated workshops throughout major towns in Malaysia coupled with fleet leasing options.
  • Fast moving consumer goals, manufacturing and distribution through 3 manufacturing facilities in Batu Pahat, Johor; Bkt Minyak, Penang and Surabaya, Indonesia.
  • Education – through Saito University College.
  • Regional security operations in Singapore, Vietnam, Cambodia, Myanmar, Thailand, Indonesia, Sri Lanka and Malaysia.

Cash Management: Involving management of ATMs/CDMs/CRMs for Banks and Cash Processing via 27 Cash Centres in Malaysia.

Distribution CRM: Distribution and maintenance of bulk cash machines from G4S Deposita and Cash Recycling machines from Hitachi Omron Japan.

IAD Regional: In the process of final accreditation by authorities to be an Independent ATM Deployer. Grew the business to the region in areas mentioned above.

Logistic / Fleet: Expanded the Company’s business beyond security to Cash Management, Logistic/Warehousing, Fleet Management, FMCG and Property Portfolio.

Dato’ Mustapha Abd Hamid

Dato’ (Dr) Mustapha Abd Hamid graduated from the Royal Miltary College in 1972 and went on to obtain a Bachelor Degree (Honours) in Social Science from Universit Sains Malaysia, Penang in 1877 and a Diploma in Public Management from the National Institute of Public Administration Malaysia (more commonly known as INTAN) in 1978. He started his career as an Administrative and Diplomatic Officer of the Research Division in the Prime Minister's Department and was posted as the First Secretary of the Malaysian Embassy in Paris, France (1982-1985). During his 16 years In the public service sector, he was also the Consul of Consulate General of Malaysia in Medan, Indonesia (1880-1983) and the Principal Assistant Director in the Prime Minister's Department (1993-1884). He was appointed as Chancellor of Saito University College in April 2018 and at the same time was awarded an Honorary Doctorate in Education.

Currently, he is a Director of Acmar FHP Group Berhad, Lil Hen Industries Bhd and Berjaya Food Bhd. He also holds directorship positions in several other private limited companies.

Mohd Yusof Hj Nurin

Mohd Yusof Bin Hj Nurin, age 72, Malaysian. He secured the Cambridge Overseas School Certificate in 1961 and held various positions in the Government Services namely in the Ministry of Finance, Ministry of Home Affairs, Ministry of International Trade and the Ministry of Education from 1962 until he retired in 1997. Currently, he is a director of Safeguards Corporation Sdn Bhd and all its subsidiaries.