Change - Announcement of Appointment::APPOINTMENT OF INDEPENDENT DIRECTOR
Issuer & Securities
AXINGTON INC. - MYA012218006 - 42U
Change - Announcement of Appointment
Date &Time of Broadcast
Announcement Sub Title
APPOINTMENT OF INDEPENDENT DIRECTOR
Submitted By (Co./ Ind. Name)
Dato' Peter Tang Swee Guan
Deputy Executive Chairman and Executive Director
Description (Please provide a detailed description of the event in the box below)
APPOINTMENT OF INDEPENDENT DIRECTOR
This announcement has been prepared by Axington Inc. (the "Company") and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(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 Mr. Pong Chen Yih, Chief Operating Officer, 9 Raffles Place, #17-05 Republic Plaza Tower 1, Singapore 048619, telephone (65) 6950 2188
Date Of Appointment
Name Of Person
Chua Siong Kiat
Country Of Principal Residence
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board, having considered the recommendation of the Nominating Committee and assessed the qualifications and experience of Mr Chua Siong Kiat ("Mr Chua"), is of the view that Mr Chua has the requisite experience and capabilities to assume the duties and responsibilities as the Lead Independent Director of the Company.
Whether appointment is executive, and if so, the area of responsibility
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director
Chairman of Audit Committee and a member of Nominating Committee and Remuneration Committee
Nanyang Business School, Nanyang Technological University - Chartered Valuer and Appraiser (CVA)
Imperial College London Business School - Master of Business Administration and Diploma of the Imperial College in Management (MBA, DIC)
Institute of Singapore Chartered Accountants (formerly known as Institute of Certified Public Accountants of Singapore) - Chartered Accountant, Singapore (CA Singapore)
Institute of Internal Auditors - Certified Internal Auditor (CIA)
The Association of Chartered Certified Accountants - Graduate and Associate Member (ACCA), and Fellow Member (FCCA)
Associate Member of the Singapore Institute of 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
Yes, Mr Chua was a Consulting CFO, on a part time basis, to Giron Pte Ltd from 1 April 2020 to 30 June 2020.
One of the shareholders and directors of Giron Pte Ltd, Marjory Loh, is the sister of Terence Loh, a controlling shareholder of the Company. Terence Loh was appointed as a director of Giron Pte Ltd only on 15 May 2020.
Conflict of interests (including any competing business)
Working experience and occupation(s) during the past 10 years
November 2015 to Present: Director, Lighthouse Business Consulting Pte. Ltd.
July 2017 to January 2018: Appointed Chief of Financial Officer - Global Hospitality Trust Project, Amare Investment Management Group Pte. Ltd.
2016 to 2017: Executive Director and Head of Non-Property business (February 2017 - July 2017) / Alternate Director (March 2016 - February 2017) / Interim Group Chief Operating Officer (July 2016 - February 2017), Pacific Star Development Limited
July 2013 to September 2015: Executive Director (Appointment as an Executive Director in November 2013) and Chief Financial Officer, Libra Group Limited
2011 to 2013: Director, Finance & Control - Asia, ex-China Region (February 2011 to May 2013) / Interim Co-Managing Director (November 2011 to May 2012), Imtech Marine BV
July 2009 to December 2010: Sub-Regional Controller, China, Sri Lanka and India, AES Corporation
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
Shareholding interest in the listed issuer and its subsidiaries?
# 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)
Omni Sharing Pte. Ltd.
Pacific Star Development Limited
Durabeau Industries Pte Ltd
LH Aluminium Industries Pte. Ltd.
Autotrax International Pte. Ltd.
Autovox Korea Co., Ltd
V Capital Investment Pte. Ltd.
Libra Group Limited
Kitchen Culture Holdings Limited
China Star Food Group Limited
Lighthouse Business Consulting Pte. Ltd.
National Arthritis Foundation
Starwork Vision Pte. Ltd.
Robotic Vision Inc. 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?
(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?
If Yes, Please provide full details
Mr Chua served as a director in (i) Durabeau Industries Pte Ltd ("DIPL") and (ii) LH Aluminium Industries Pte. Ltd. ("LHAI") from 15 February 2017 to 13 July 2017. In May 2019, Pacific Star Development Limited ("PSD"), the parent company of both DIPL and LHAI, announced their decision to discontinue its aluminum business division for both commercial reasons and placed both DIPL and LHAI under creditors voluntary liquidation. Further details in relation to the liquidation can be found in PSD's SGXNet announcements dated 22 May 2019 and 31 May 2019.
(c) Whether there is any unsatisfied judgment against him?
(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?
(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?
(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?
(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?
(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?
(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?
(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
(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
(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
(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?
(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?
Any prior experience as a director of an issuer listed on the Exchange?
If Yes, Please provide details of prior experience
Mr Chua is currently the independent non-executive director of China Star Food Group Limited and Kitchen Culture Holdings Limited. He was formerly an executive director of Pacific Star Development Limited and Libra Group Limited.