| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Feb 26, 2020 19:24 |
| Status | New |
| Announcement Sub Title | Appointment of Executive Director and Group Chief Operating Officer |
| Announcement Reference | SG200226OTHRDYMI |
| Submitted By (Co./ Ind. Name) | Tsng Joo Peng |
| Designation | Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Choy Bing Choong as an Executive Director and Group Chief Operating Officer of the Company. This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the Sponsor ), in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the SGX-ST ) Listing Manual Section B: Rules of Catalist. This announcement has not been examined or approved by the SGX-ST. 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 Gillian Goh, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg) |
| Additional Details | |
| Date Of Appointment | 01/03/2020 |
| Name Of Person | Choy Bing Choong |
| Age | 53 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | Mr Choy Bing Choong ("Mr Choy") is currently Chief Investment Officer of the Company. The Board of Directors has considered among others, the recommendation of the Nominating Committee and the qualifications and experiences of Mr Choy, and approved the promotion of Mr Choy as an Executive Director and Group Chief Operating Officer of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | The appointment is executive. As Executive Director and Group Chief Operating Officer, Mr Choy is responsible for execution of the Company's business strategies and plans, overseeing financial, administrative, human resources, investor relations, regulatory and compliance functions, as well as continue with his current Chief Investment Officer duties. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Director, Group Chief Operating Officer |
| Professional qualifications | 1. Bachelor of Accountancy, National University of Singapore 2. Member, Institute of Singapore Chartered Accountants 3. Member, Singapore Institute of Directors |
| 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 | No |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years | 1. July 2014 to Current: Chief Investment Officer at Natural Cool Holdings Limited 2. August 2006 to June 2014: Director, Corporate Finance at CIMB Bank Berhad, Singapore Branch |
| 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) | HMK Energy Pte Ltd P.T. Harpindo Mitra Kharisma Natural Cool Holdings Limited HMK Investments Ltd |
| Present | Hiap Tong Corporation Ltd Hoe Leong Corporation Ltd Zhongmin Baihui Retail Group Ltd |
| (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? | Yes |
| If Yes, Please provide full details | Choy Bing Choong was appointed a Non-Executive, Independent Director of Hoe Leong Corporation Ltd ("Hoe Leong") on 1 September 2019. On 2 October 2019, Hoe Leong received an Originating Summons without a supporting affidavit filed by United Overseas Bank ("UOB") to place the Company under judicial management pursuant to Section 227B of the Companies Act (Cap. 50, 2006 Rev Ed) ("JM Application"). On 7 November 2019, leave was granted by the High Court for UOB to wholly discontinue and/or withdraw the JM Application and UOB has accordingly filed the Notice of Discontinuance / Withdrawal accordingly to wholly discontinue / withdraw the JM Application. |
| (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 | Mr Choy Bing Choong is currently an independent director of Hiap Tong Corporation Ltd, Hoe Leong Corporation Ltd and Zhongmin Baihui Retail Group Ltd |
| 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 |