The Board

Executive Directors

Andrew Yao
Mr. Yao is the Founder and one of the key drivers behind the establishment of iSteelAsia. He is currently serving as the Chairman and CEO of the Company. Launched in December 1999, iSteelAsia is Asia's first online exchange for trading in steel and steel products. It is the first of its kind to be listed on the Hong Kong Stock Exchange's GEM board in April 2000. With the "Global Vision, Asian Focus" goal, Mr. Yao shares with iSteelAsia his extensive experience in the steel trading business. To date, iSteelAsia has over 4,000 registered members.

Aiming to build iSteelAsia as the premier e-enabler of the entire Asian steel community and to provide this community with comprehensive value-added services, Mr. Yao formed alliances with internationally renowned technology and business partners.

He is also the chairman of Van Shung Chong Holdings Limited, a Hong Kong-listed company with 1999 turnover of US$240 million. Under his direction, Van Shung Chong expanded its market share in the construction steel industry in Hong Kong from 10% in 1992 to 66.6% in 1999. Profit grew almost four times in the last six years. Van Shung Chong has also forged strategic joint ventures in China, including a coil service center in Guangdong with Baosteel of China.

He obtained a B. Sc. degree in finance from the University of California at Berkeley and an M.B.A. from the Harvard University Graduate School of Business Administration. Mr. Yao sits on the boards of various business associations including the Executive Committee of Hong Kong Housing Society, a quasi-governmental agency with assets in excess of US$2 billion, and is a General Committee Member of Federation of Hong Kong Industries. Currently, he is a member of the Shanghai Municipal Committee of the Chinese People's Political Consultative Conference and a Director of Fudan University, Shanghai. He was also the former President of Harvard Business School Association in Hong Kong.

Miriam Yao
As Founder & Deputy Chairman of the Board of iSteelAsia, Ms. Yao made major contributions in forging strategic business alliances and the development of the business processes for the Company.

Ms. Yao has many years of experience in the steel industry. As the Executive Director of Van Shung Chong Holdings Limited, she is responsible for the sourcing of rebars worldwide and has excellent relationships with the global steel suppliers.

Prior to joining Van Shung Chong in 1991, Ms. Yao was an auditor at Arthur Andersen & Company and worked in the corporate finance department at the Bankers Trust Company in Hong Kong.

Ms. Yao is a Certified Public Accountant in the US and received her B.Sc. degree in Accounting from the University of Southern California.

Desmond Fu
Mr. Desmond Fu is the Executive Director and CEO of iSteelAsia. Mr. Fu has over 20 years of experience in China related steel business & investment with several multi-national steel companies including British Steel Corporation (now known as Corus), TradeArbed (now known as Arcelor) and Fletcher Challenge (the biggest private company in New Zealand).

Mr. Fu began his career in steel with British Steel Corporation in Hong Kong as sales manager in 1984, pioneering in bringing European construction steel to the Hong Kong and China market. He joined TradeArbed in 1985 as general manager responsible for setting up its Hong Kong and China operation and subsequently promoted to managing director in 1987 with additional responsibilities for the newly set up trading operation.

Mr. Fu joined Fletcher Challenge's steel division in Hong Kong in 1995 as executive director with responsibility in business development and pursuing steel investments in China.

Mr. Fu holds a bachelor degree in Civil Engineering with honor from the University of London. Prior to his career in steel, he practiced as structural engineer in a Hong Kong engineering consulting firm.

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