15 Jul 2022
Change - Announcement Of Re-Designation Of Independent Director And Board Chairman To Executive Chairman
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jul 15, 2022 20:29 |
| Status | New |
| Announcement Sub Title | RE-DESIGNATION OF INDEPENDENT DIRECTOR AND BOARD CHAIRMAN TO EXECUTIVE CHAIRMAN |
| Announcement Reference | SG220715OTHREPJH |
| Submitted By (Co./ Ind. Name) | Josephine Toh |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Re-designation of Mr Mak Lye Mun from Independent Director and Board Chairman to Executive Chairman |
| Additional Details | |
| Date Of Appointment | 29/04/2021 |
| Name Of Person | Mak Lye Mun |
| Age | 64 |
| Country Of Principal Residence | Singapore |
| Date of last re-appointment (if applicable) | 20/04/2022 |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | Mr Mak Lye Mun was appointed as an Independent Director and Board Chairman of the Company on 29 April 2021. The Board considered and accepted the Nominating Committee's recommendation to re-designate Mr Mak Lye Mun as an Executive Chairman of the Company, after reviewing his educational background, professional qualifications, extensive working experience, as well as his familiarity with the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Executive. Mr Mak is well equipped to undertake the executive role in the Company and lead the Group's business and operations. As Executive Chairman, Mr Mak will also be responsible for the effective function of the Board and charting the strategic direction of the Group. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Chairman |
| Professional qualifications | - Master of Business Administration, University of Texas - Bachelor of Civil Engineering (First Class Honours), University of Malaya |
| 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 | 2020 to 31 March 2021: Advisor to the Chief Executive Officer of CIMB Group 2005 to 2019: Chief Executive Officer / Country Head of CIMB Bank Singapore |
| 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) | Boardroom Limited Tat Hong Holdings Ltd Hwa Hong Corporation Limited |
| Present | Boustead Singapore Limited Duke-NUS Medical School AVJennings Limited SC Global Developments Pte. 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? | 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 | 2021 to present: Boustead Singapore Limited (Independent and Non-Executive Director) 2020 to 2022: Hwa Hong Corporation Limited (Independent and Non-Executive Director and Chairman of the Board) 2004 to 2019: Boardroom Limited (Non-Executive Director) 2005 to 2018: Tat Hong Holdings Ltd (Non-Executive Director) |