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Replace - Change - Announcement Of Appointment Of Independent Non-Executive Director
BackFeb 03, 2025
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Feb 3, 2025 7:38 |
| Status | Replace |
| Announcement Sub Title | Appointment of Independent Non-Executive Director |
| Announcement Reference | SG250203OTHR145M |
| Submitted By (Co./ Ind. Name) | Lim Kai Ching |
| Designation | Group CFO |
| Effective Date and Time of the event | 03/02/2025 00:00:00 |
| Description (Please provide a detailed description of the event in the box below) | Mr. Chong Teck Sin is appointed as an Independent Non-Executive Director of the Company with effect from 3 February 2025. |
| Additional Details | |
| Date Of Appointment | 03/02/2025 |
| Name Of Person | Chong Teck Sin |
| Age | 69 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | The Board has approved the appointment of Mr. Chong Teck Sin ("Mr. Chong") as an Independent Non-Executive Director of the Company after having considered the recommendation of the Nominating Committee and having reviewed the credentials and experience of Mr. Chong. Mr. Chong will also be appointed as a member of the Audit Committee, Nominating Committee and Remuneration Committee. |
| Whether appointment is executive, and if so, the area of responsibility | The appointment is non-executive. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | 1) Member of the Board 2) Member of the Audit Committee 3) Member of the Nominating Committee 4) Member of the Remuneration Committee |
| Professional qualifications | - Bachelor of Engineering from The University of Tokyo - Masters of Business Administration from 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 | None |
| Conflict of interests (including any competing business) | None |
| Working experience and occupation(s) during the past 10 years | Multi-Chem Limited - 30 April 2024 to Present - Independent Director - Chairman of the Board and Audit and Risk Management Committee - Member of Remuneration Committee and Nominating Committee AIMS AMP Capital Industrial REIT Management Limited - October 2018 to Present - Independent Director - Chairman of Audit, Risk & Compliance Committees Civmec Limited - March 2012 to October 2024 - Lead Independent Director - Chairman of Audit Committee and Chairman of Risks & Conflicts Committee lnnoTek Limited - September 2012 to April 2024 - Independent Director - Chairman of Audit & Risk Management Committee - Member of Remuneration Committee Changan Minsheng APLL Logistics Co., Ltd - July 2005 to June 2023 - Independent Director - Member of Audit, Nominating & Remuneration Committee Accordia Golf Trust Management Pte Ltd - June 2014 to August 2021 - Independent Director - Chairman of Audit and Risk Committee - Member of Nominating and Remuneration Committee AVIC International Maritime Holdings Limited - April 2011 to December 2017 - Independent Director - Chairman of Audit Committee - Member of Nominating and Remuneration Committee Ranhill Pte Ltd - Up to November 2024 - Director Civmec Construction & Engineering Pte Ltd - March 2012 to October 2024 - Director |
| 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) | - Civmec Limited - lnnoTek Limited - Changan Minsheng APLL Logistics Co., Ltd - Accordia Golf Trust Management Pte Ltd |
| Present | - Multi-Chem Limited - AIMS APAC REIT Management Limited (as Manager of AIMS APAC REIT) |
| (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? | Yes |
| If Yes, Please provide full details | Accordia Golf Trust Management Pte Ltd was notified by MAS on 20/10/2015 of a S$6,500 fine for breaching section 137R of the SFA for failure to disseminate information relating to the change of shareholding of a substantial unit-holder of Accordia Golf Trust within one business day from the date of receipt of the notice(s). Opinion of A&G was sought on the fine and the opinon was that "The sanction by MAS is targeted at the TM (Section 137R(10)(b) of the SFA) and not the directors in their personal capacity, as the MAS has not referred to Section 137R(5) of the SFA. In this sense, this does not affect the directors in their personal capacity". |
| (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? | Yes |
| If Yes, Please provide full details | Mr. Chong was required to appear for examination by MAS on 20 November 2013 under Section 154 of SFA (Chapter 289) in its investigation into the trading of Beyonics Technology Limited's shares prior to its announcement on 5 November 2011and Wanxiang International Limited's shares prior to its announcement on 11 October 2011. Being former independent director of both companies until their delisting from SGX in early 2012, Mr. Chong believes his role was to assist MAS in its investigation . He did not own any Beyonics share and his holding of Wanxiang shares was limited to 100,000 IPO shares and a subsequent purchase of another 100,000 shares more than 1 year before the announcement for privatisation of Wanxing International Limited on 11 October 2011. The above was disclosed to SGX and MAS when Accordia Golf Trust ("AGT") filed its prospectus for listing in 2014. AGT was listed in 2014 and Mr. Chong became its independent director and Audit & Risk Committee Chairman of its trustee manager. |
| Any prior experience as a director of an issuer listed on the Exchange? | Yes |
| If Yes, Please provide details of prior experience | Mr. Chong is currently an independent director of Multi-Chem Limited. |
| Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable) | As Mr. Chong has extensive experience as independent director of SGX listed companies, the nominating committee does not deem it necessary for Mr. Chong to undergo training as prescribed by the Exchange. |