Enquiry Form






Change – Announcement of Appointment::Appointment of Independent Non-Executive Director – Mr Chin Yew Choong David

Announcement Reference

SG200528OTHRKV12

 

Submitted By (Co./ Ind. Name)

Tan Yee Ho

 

Designation

Executive Chairman

 

Description (Please provide a detailed description of the event in the box below)

Appointment of Mr Chin Yew Choong David (“Mr Chin”) as the Independent Non-Executive Director, the Chairman of the Nominating Committee (“NC”) and a member of the Audit Committee (“AC”) and the Remuneration Committee (“RC”) of the Company.

 

This announcement has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, ZICO Capital Pte. Ltd. (the “Sponsor”), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual Section B: Rules of Catalist.

 

This announcement has not been examined or approved by the SGX-ST and 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. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

 

Additional Details

Date Of Appointment

01/06/2020

 

Name Of Person

Chin Yew Choong David

 

Age

61

 

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 Mr Chin’s qualifications, experience and independence, and is of the opinion that he is suitable for the role of Independent Non-Executive Director, as well as the Chairman of the NC, a member of the AC and RC of the Company.

 

Mr Chin is considered independent by the Board of Directors for the purpose of Rule 704(7) of the Catalist Rules.

 

Whether appointment is executive, and if so, the area of responsibility

Non-Executive.

 

Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)

Independent Non-Executive Director, NC Chairman, AC Member and RC Member.

 

Professional qualifications

Bachelor of Law from National University of Singapore

 

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

1985 to September 2015 – Partner (and later Director when incorporated), Drew & Napier LLC

September 2015 to Present – Director, Rajah & Tann LLP

 

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)

Directorships

1) Carlisle Hostel Management Pte. Ltd. (In Liquidation-Creditors’ Voluntary Winding Up)

2) Evan Hostel Pte. Ltd. (In Liquidation-Creditors’ Voluntary Winding Up)

3) Global Residence Pte. Ltd. (In Liquidation-Creditors’ Voluntary Winding Up)

4) Katong Hostel Pte. Ltd. (In Liquidation-Creditors’ Voluntary Winding Up)

5) Pearl Hill Hostel Pte. Ltd. (In Liquidation-Creditors’ Voluntary Winding Up)

6) Queensway Student Hostel Pte. Ltd. (In Liquidation-Creditors’ Voluntary Winding Up)

7) The Hill Lodge @ Mount Vernon Pte. Ltd. (In Liquidation-Creditors’ Voluntary Winding Up)

8) Winsta Holding Pte. Ltd.

 

Other Principal Commitments

1) Drew & Napier LLC

 

Present

Directorships

1) Jackspeed Corporation Limited

2) M Development Ltd.

3) United Force Development (S) Pte. Ltd.

4) United Force Trading Pte. Ltd.

5) Universal Resource And Services Limited

 

Other Principal Commitments

1) Rajah & Tann LLP

 

(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

Yes

 

If Yes, Please provide full details

Mr Chin is currently an Independent Non-Executive Director of Universal Resource and Services Limited (“URS”) (appointed since April 2015, after the relevant subject matter as detailed below on irregularities occurred).

 

In February 2017, Moore Stephens LLP, engaged by URS, highlighted irregularities in the cash and bank balances of URS’ wholly-owned subsidiary in the People’s Republic of China, namely Renqiu Kai Yuan Petroleum Technology Development Co., Ltd. and SKY Petroleum Technology Development (Tianjin) Co., Ltd (“Matter”).

 

In October 2017, Moore Stephens LLP was appointed by URS as special auditors to conduct an independent review into the circumstances surrounding the Matter and the state of financial affairs of URS and its subsidiaries. In May 2020, the special auditors issued its report on their findings (“Special Audit Report”) and thereafter, (i) the Singapore Exchange Regulation is currently reviewing the Special Audit Report for possible listing rule breaches; and (ii) URS had submitted the Special Audit Report to the Singapore Police Force Commercial Affairs Department and the Accounting and Corporate Regulatory Authority and highlighted that certain offences may have been committed.

 

Full details of the aforesaid matter can be found in the various announcements released on SGXNet by URS.

 

(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

– Existing Independent Non-Executive Director of Universal Resource and Services Limited

– Existing Non-Executive Non-Independent Director of M Development Ltd

– Existing Independent Non-Executive Chairman of Jackspeed Corporation Limited

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