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Change - Announcement Of Re-Designation Of Independent Non-Executive Director To Lead Independent Non-Executive Director
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Oct 30, 2024
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Oct 30, 2024 18:08 |
| Status | New |
| Announcement Sub Title | Re-designation of Independent Non-Executive Director to Lead Independent Non-Executive Director |
| Announcement Reference | SG241030OTHRXHOY |
| Submitted By (Co./ Ind. Name) | Lim See Hoe |
| Designation | Executive Chairman and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Re-designation of Independent Non-Executive Director to Lead Independent Non-Executive Director This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Ms Audrey Mok (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Date Of Appointment | 30/10/2024 |
| Name Of Person | Chua Kim Leng |
| Age | 55 |
| Country Of Principal Residence | Singapore |
| Date of last re-appointment (if applicable) | 27/10/2023 |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | Mr Chua Kim Leng ("Mr Chua") is currently an Independent Non-Executive Director of the Company. The Board has reviewed and considered the character, integrity, suitability, qualifications and experiences of Mr Chua and approved his re-designation as the Lead Independent Non-Executive Director of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Non-Executive Director Chairman of Audit and Risk Committee, Interim Chairman of both Remuneration Committee and Nominating Committee |
| Professional qualifications | Bachelor of Business Administration (Honours), National University of Singapore |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | Nil |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | Mr Chua is currently an Independent Director of United Overseas Insurance Limited, an insurance company listed on the SGX-ST. He also serves as a Director of ICHX Tech Pte. Ltd. (a recognised market operator in Singapore), Sygnum Bank AG (a Swiss bank based in Zurich) and GXS Bank Pte Ltd (a digital bank in Singapore). He stepped down from his role as Special Advisor (Financial Supervision) at the Monetary Authority of Singapore in 2018 after 25 years of service. Prior to that, he was the Assistant Managing Director in charge of the Banking and Insurance Group where he was responsible for the licensing and supervision of banks, insurance and finance companies, and anti-money laundering supervision for the financial sector. |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | Yes |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | Independent Non-Executive Director of: 1. Ternary Asia Master Fund Pte. Ltd. 2. Ternary PBP Capital Private Limited 3. Ternary Centennial Pte. Ltd. 4. Sygnum Pte. Ltd. 5. Gambling Regulatory Authority 6. Yangzijiang Financial Holding Ltd. Other Principal Commitments: Nil |
| Present | Independent Non-Executive Director of: 1. GXS Bank Pte. Ltd. 2. ICHX Tech Pte. Ltd. 3. Sygnum Bank AG 4. United Overseas Insurance Limited Other Principal Commitments: Nil |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | No |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of an issuer listed on the Exchange? | Yes |
| If Yes, Please provide details of prior experience | 1. TEHO International Inc Ltd. 2. United Overseas Insurance Limited 3. Yangzijiang Financial Holding Ltd. |
