News
Change - Announcement Of Appointment Of Independent Non-Executive Director
BackApr 30, 2021
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Apr 30, 2021 23:21 |
| Status | New |
| Announcement Sub Title | Appointment of Independent Non-Executive Director |
| Announcement Reference | SG210430OTHREIS9 |
| Submitted By (Co./ Ind. Name) | Tan Kheng Hwee Andrew |
| Designation | Chief Executive Officer |
| Effective Date and Time of the event | 03/05/2021 00:00:00 |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Mr Lim Boon Cheng as Independent Non-Executive Director of the Company |
| Additional Details | |
| Date Of Appointment | 03/05/2021 |
| Name Of Person | Lim Boon Cheng |
| Age | 65 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Board of Directors has reviewed and considered the qualifications and relevant experiences of Mr Lim Boon Cheng, and upon recommendation of the Nominating Committee, has approved the appointment of Mr Lim Boon Cheng as an Independent Non-Executive Director of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Independent and Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of Investment Committee and Member of Audit Committee and Nominating Committee |
| Professional qualifications | Master of Business Administration, University of Ulster, Northern Ireland, UK Fellow Member of Chartered Accountants Ireland Fellow Member of the Institute of Singapore Chartered Accountants |
| 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 | Mr Lim Boon Cheng has more than 30 years of experience in the accounting industry, primarily in auditing, financial accounting and business advisory work: 2017 - Present: Fitzroy Corporate Advisory - Owner 2000 - 2012: LTC & Associates/LTC LLP (Public Accountants) - Managing Partner and then Chairman 2001 - 2014: One Consulting Group Pte Ltd - Director 2005 - 2014: One Financial Advisory Services Pte Ltd - Director 2007 - 2014: One Outsource Services Pte Ltd - Director One Tax Services Pte Ltd - Director One E-Risk Services Pte Ltd - Director Mr Lim Boon Cheng also serves as an independent director on the board of publicly listed companies, namely: 1. Advanced Holdings Limited listed on Singapore Exchange ( SGX ); 2. Design Capital Limited listed on Hong Kong Stock Exchange ( HKEX ) |
| 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) | FG Investors Pte Ltd - Director FGPO (Singapore) Pte Ltd - Director FG Property No. 1 Pte Ltd - Director |
| Present | Fitzroy Corporate Advisory - Owner AIB MT Fund Asia Pte Ltd (In Members Voluntary Liquidation) - Director Listed Directorship: Design Capital Ltd, (HKEX) Advanced Holdings Ltd, (SGX) |
| (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 | Mar 2019 - Present: Independent Director of Design Capital Ltd, (HKEX) Apr 2013 - Present: Independent Director of Advanced Holdings Ltd, (SGX) |
| 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) | Not applicable |