Change - Announcement Of Appointment Of Lead Indepedent Director
BackDec 24, 2020
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Dec 24, 2020 16:27 |
| Status | New |
| Announcement Sub Title | ANNOUNCEMENT OF APPOINTMENT OF LEAD INDEPEDENT DIRECTOR |
| Announcement Reference | SG201224OTHR7O6X |
| Submitted By (Co./ Ind. Name) | Daryl Ong Toon Howe |
| Designation | General Counsel / Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Lead Independent Director. |
| Additional Details | |
| Date Of Appointment | 31/12/2020 |
| Name Of Person | Teo Ser Luck |
| Age | 52 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | On the recommendation of the Nominating Committee, the Board approved the appointment of Mr Teo as Lead Independent Director, Chairman of the Remuneration Committee, member of the Audit Committee and member of the Nominating Committee of the Company based on his credentials, experience and proven track record. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Director Chairman of Remuneration Committee Member of Audit Committee Member of Nominating Committee |
| Professional qualifications | Degree in Accountancy, Nanyang Technological University |
| 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 | 2020 to present Independent Director of Yanlord Land Group Limited 2019 to present (i) Independent Director of Straco Corporation Limited (ii) Lead Independent Director of China Aviation Oil (Singapore) Corporation Ltd 2017 to present (i) Chairman of BRC Asia Limited (ii) Deputy Chairman of Serial System Limited 2017 to 2020 Lead Independent Director of United Engineers Limited 2006 to 2020 Singapore Member of Parliament 2006 to 2017 (i) Minister of State for Ministry of Trade and Industry (ii) Senior Parliamentary Secretary in the Ministry of Transport and Ministry of Community Development, Youth and Sports (iii) Minister of State for Ministry of Manpower (iv) Mayor of the North East District |
| 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) | United Engineers Limited |
| Present | 1) Yanlord Land Group Limited 2) Straco Corporation Limited 3) China Aviation Oil (Singapore) Corporation Ltd 4) BRC Asia Limited 5) Serial Systems Limited 6) F4U Pte Ltd 7) Vicduo Pte Ltd 8) Nufin Data Pte Ltd 9) Nufund Pte Ltd 10) Helicap Pte Ltd 11) 2YSL 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 | Independent Director of Yanlord Land Group Limited Independent Director of Straco Corporation Limited Lead Independent Director of China Aviation Oil (Singapore) Corporation Ltd Chairman of BRC Asia Limited Deputy Chairman of Serial Systems Limited Lead Independent Director of United Engineers 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) | N.A. |