09 Oct 2015
Change - Announcement Of Appointment - Appointment Of Chief Executive Officer Designate
| Announcement Title | Change - Announcement of Appointment |
| Announcement Subtitle | APPOINTMENT OF CHIEF EXECUTIVE OFFICER DESIGNATE |
| Securities | INTRACO LIMITED (INTRACO) |
| Date & Time of Broadcast | Oct 9, 2015 17:11 |
| Submitted By | BUSARAKHAM KOHSIKAPORN COMPANY SECRETARY |
| Description | APPOINTMENT OF CHIEF EXECUTIVE OFFICER DESIGNATE |
| Appointment Details | |
| Date of appointment | Nov 1, 2015 |
| Name of person | HOON WEE TENG, WILL |
| Age | 52 |
| Country of principal residence | Singapore |
| The Board's comments on this appointment | Mr Will Hoon is appointed as Chief Executive Officer Designate ("CEO Designate"), following the culmination of an external search to identify the best candidate for the position of CEO Designate. The Board, having considered the recommendation of the Nominating & Remuneration Committees and Mr Will Hoon's qualifications and experience, approved his appointment as CEO Designate of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Executive. Area of responsibility: Refer to Job Title |
| Job title | Chief Executive Officer Designate |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | No |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years | 2008 to 2012 - Chief Executive Officer of Sateri Holdings Limited 2007 - President of Eu Yan Sang International Ltd 2000 to 2007 - Executive Vice President of Transpac Capital Pte Ltd |
| Shareholding interest in the listed issuer and its subsidiaries | No |
| Other Directorships | |
| Note: 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) | Bahia Specialty Cellulose S.A.; Norcell S.A.; Sateri (Fujian) Fiber Co., Ltd.; Sateri (Hong Kong) Management Limited; Sateri (Jiangxi) Chemical Fiber Co., Ltd.; Sateri (Shanghai) Management Limited; Sateri Bacell Limited; Sateri China (Hong Kong) Limited; Sateri China Investment Limited; Sateri Copener Limited; Sateri Forestry (Chongqing) Co., Ltd.; Sateri Holdings Limited; Sateri International (Singapore) Pte Ltd; Sateri International Co. Ltd.; Sateri Marketing International Limited; Sateri Specialty Cellulose Limited; SC International Macao Commercial Offshore Limited; SC Marketing Limited; Specialty Cellulose Marketing Pte. Ltd.; InterTech Corporation |
| Present | Bright Shrewd Holdings Limited |
| Information Required Persuant To Listing Rule 704(7)(H) | |
| (a) Whether at any time during the past 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 any 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 with 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 | He was appointed as a non-executive director of Magician Industries, a company incorporated outside of Singapore in which Transpac Capital has minority interests, but was not involved in any of the operations of this company. Since it experienced difficulties in obtaining timely information on the effective date of his appointment from Magician Industries, Transpac Capital notified the Monetary Authority of Singapore of his appointment a week later than the notice period of two weeks allowed by the relevant regulations under the SFA. Although Transpac Capital was reminded that the authority take a serious view of violations of the SFA, the authority did not take further action against him or Transpac Capital (the former being licensed as a representative and latter as the principal under the SFA) after taking into consideration the difficulties faced by Transpac Capital and the documentary evidence furnished by Transpac Capital on the actions taken in its attempt to comply with the notice requirements. |
| Information Required persuant to Listing Rule 704(7)(I) | |
| Note: Disclosure applicable to the appointment of Director only | |
| Any prior experience as a director of a listed company? | No |
| If yes, please provide full details | N.A |