<article>Barely a year into establishment, the Malaysian Global Innovation and Creativity Centre (<a style="color: #0000ff; text-decoration: underline;" href="http://www.dealstreetasia.com/?s=MaGIC" target="_blank">MaGIC</a>) has seen some key changes in among board of directors &#8211; most notably, entrepreneur and managing partner of <a style="color: #0000ff; text-decoration: underline;" href="http://500.co/" target="_blank">500 Startups</a> Khailee Ng has stepped down.</article>

Barely a year into establishment, the Malaysian Global Innovation and Creativity Centre (<a style="color: #0000ff; text-decoration: underline;" href="http://www.dealstreetasia.com/?s=MaGIC" target="_blank">MaGIC</a>) has seen some key changes in among board of directors &#8211; most notably, entrepreneur and managing partner of <a style="color: #0000ff; text-decoration: underline;" href="http://500.co/" target="_blank">500 Startups</a> Khailee Ng has stepped down.
In another update in its boardroom, Husni Salleh, CEO of the <a href="http://www.teraju.gov.my/" target="_blank">Bumiputera Agenda Steering Unit</a> (known locally as Teraju), was recently appointed to the board of the government agency tasked to spearhead entrepreneurial initiatives.
Ng, a frequent speaker at MaGIC events and other entrepreneurial engagements, told a local-based news portal that he will remain active in the operations side.
He told the news portal that he the move was an appropriate one, given his regular travels.
“Given that I travel so much, it is not feasible for me to meet face-to-face for meetings as per the requirements of a board director. I’m more of an operations guy rather than a governance person, which is not my forte nor the best use of my skills. I am frankly more useful on the backend side of things and have always supported the MaGIC team operationally with events, ideas and strategising,” he was quoted.
Ng stated that he will continue to work with MaGIC on many initiatives.
MaGIC’s board of directors include names from other government agencies like <a href="http://www.dealstreetasia.com/?s=Khazanah+" target="_blank">Khazanah Nasional Bhd</a>’s Azmil Zahruddin Abdul Aziz, the Ministry of Finance’s Fauziah Yaacob, <a href="http://www.biotechcorp.com.my/" target="_blank">BiotechCorp</a>’s Dr Mohd Nazlee and <a href="http://www.dealstreetasia.com/?s=Cradle+Fund" target="_blank">Cradle Fund</a>’s Nazrin Hassan.
The agency is chaired by Ministry of Finance secretary-general Dr Mohd Irwan Serigar Abdullah. Other board directors are <a href="http://www.dealstreetasia.com/?s=Axiata+Group" target="_blank">Axiata Group</a> Bhd’s Jamaludin Ibrahim, <a href="http://www.blueoceanstrategy.com" target="_blank">Malaysia Blue Ocean Strategy Institute</a>’s Dr Park Jae Won, <a href="http://www.google.com.my/" target="_blank">Google Malaysia</a>’s Sajith Sivanandan and <a href="http://www.jobstreet.com/" target="_blank">Jobstreet.com</a>’s Mark Chang and <a href="http://www.microsoft.com/en-my/" target="_blank">Microsoft Malaysia</a>’s Carlos Lacerda.
Come 2015, MaGIC will be working from a smaller budget. according to CEO Cheryl Yeoh.
MaGIC was allocated MYR50 million ($14.3 million) when it was first launched, with that amount upped to MYR70 million ($20 million) subsequently. The distribution and timeframe for utilising this fund was not specified

MaGIC boardroom changes, Ng exits

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