Thank you very much for the instruction. I tried removing battery, resetting CMOS and using only one RAM stick. None of these worked. I actually listen more carefully to the beep sound and it is 3 short beeps. It appears to be "basic memory 64K address check error". What shall I do next?
Just to update on the beep sound, it is cycling and non-stop after each 3 consecutive beeps upon power on, not sure if I can call it long or short beeps but they seem to be equal length.
I read another thread with the following suggestion (http://forum.giga-byte.co.uk/index.php?topic=12481.0) :
BIOS Recover Method Via Manually Invoking BACKUP BIOS Auto-Recovery
Using Power Supply - On/Off Switch
It is possible to make the BIOS Auto-Recovery kick in (Dual BIOS) and re-flash the MAIN BIOS with the contents of the BACKUP BIOS.
This is a simple and easy method for anyone to try before having to resort to other more difficult methods, or a RMA.
1. Shut off the power supply using the switch on the back of the PSU, wait 10-15 seconds.
2. Press and hold the case Power On swtich, then while still holding turn on the power supply from the switch on the rear.
3. Still holding the case power on switch, the board will start, once it does release the case power on switch and shut off the power supply via the switch on the read of the unit. (Do the latter two parts as quickly as you can once the board starts)
4. The board will shut down.
5. Turn the power supply back on using the switch on the rear of the unit.
6. Turn on the motherboard by pressing the case power on button.
I followed the steps and now when I turned on the PC in normal sequence, the motherboard will be on for a few seconds with fans turning and then shut down by itself. I repeated the steps a few times with no luck.

I removed the battery to reset. Now I am back to where I started, no startup screen with error beeps.