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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Sep 29, 2022 18:44 |
| Status | New |
| Announcement Sub Title | RE-DESIGNATION OF NON-EXECUTIVE INDEPENDENT DIRECTOR TO NON-EXECUTIVE LEAD INDEPENDENT DIRECTOR |
| Announcement Reference | SG220929OTHR8BY1 |
| Submitted By (Co./ Ind. Name) | Ren Letian |
| Designation | Executive Chairman and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Re-designation of Mr Chen Timothy Teck Leng @ Chen Teck Leng from Non-Executive Independent Director to Non-Executive Lead Independent Director. |
| Additional Details | |
| Date Of Appointment | 29/09/2022 |
| Name Of Person | Chen Timothy Teck Leng @ Chen Teck Leng |
| Age | 68 |
| Country Of Principal Residence | Singapore |
| Date of last re-appointment (if applicable) | 18/04/2022 |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | The Board of Directors of the Company has reviewed and considered the qualifications and experience of Mr Chen Timothy Teck Leng @ Chen Teck Leng and upon the recommendation of the Nominating Committee, has approved the appointment of Mr Chen Timothy Teck Leng @ Chen Teck Leng as Non-Executive Lead Independent Director of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Lead Independent Director, Chairman of Audit Committee, Member of Nominating Committee, Member of Remuneration Committee |
| Professional qualifications | Mr Chen Timothy Teck Leng @ Chen Teck Leng graduated in Bachelor of Science degree from University of Tennessee and Master of Business Administration degree from Ohio State University. He is a graduate of Harvard Business School's Executive Management Program. He received his Certified Corporate Director (ICD.D) designation from the Canadian Institute of Corporate 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 | None |
| Conflict of interests (including any competing business) | None |
| Working experience and occupation(s) during the past 10 years | Mr Chen Timothy Teck Leng @ Chen Teck Leng has more than three decades of management experience in banking, insurance, investment fund and corporate advisory work. |
| 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) | Boldtek Holdings Ltd. Tianjin Zhongxin Pharmaceutical Group Corporation Ltd. Sysma Holdings Limited |
| Present | Yangzijiang Shipbuilding (Holdings) Ltd. Tye Soon Ltd. CCB Life Insurance Company 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? | Yes |
| If Yes, Please provide full details | Mr Chen Timothy Teck Leng @ Chen Teck Leng was an independent director of New Century Shipbuilding Co. Ltd ("NCS"). In 2010, NCS was issued a supervisory warning by MAS for failing to comply with the applicable laws and regulatory requirements in respect of the omission of information and providing false and misleading statements in the prospectus. The supervisory warning was made against NCS and certain directors of NCS but not against Mr Chen Timothy Teck Leng @ Chen Teck Leng. |
| (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 and Chairman of Audit Committee of:- Tianjin Zhongxin Pharmaceutical Group Corporation Ltd since 2007; Xinren Aluminium Holdings Ltd. since 2010; and TMC Educational Corporation Ltd. since 2010 |