Change - Announcement of Appointment::Appointment of Independent Director and Audit and Risk Management Committee Chairman

Issuer & Securities

Issuer/ Manager
NERA TELECOMMUNICATIONS LTD
Securities
NERATELECOMMUNICATIONS LTD - SG1I64883495 - N01
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
18-Mar-2020 20:03:18
Status
New
Announcement Sub Title
Appointment of Independent Director and Audit and Risk Management Committee Chairman
Announcement Reference
SG200318OTHRRIP6
Submitted By (Co./ Ind. Name)
Chan Wan Mei
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Director and Audit and Risk Management Committee Chairman

Additional Details

Date Of Appointment
18/03/2020
Name Of Person
Basil Chan
Age
69
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
As part of the board renewal process, the Nominating Committee (the "NC") has undertaken a search process with the support of the Singapore Institute of Directors' Board Appointment Service, and recommended the appointment of Mr Basil Chan as an Independent Director of the Company. After reviewing the recommendation of the NC and Mr Chan's credentials and experience (as set out below), the Board has confirmed Mr Chan's independence and approved his appointment as an Independent Director of the Company. Consequently, Mr Chan will also be appointed as Chairman of the Audit and Risk Management Committee, and as a member of the Nomination Committee.
Whether appointment is executive, and if so, the area of responsibility
The appointment is non-executive and independent.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman of the Audit and Risk Management Committee
Professional qualifications
Mr Chan holds a BSc Econ (Hons) degree majoring in Business Administration from the University of Wales Institute of Science and Technology and is a fellow member of the Institute of Chartered Accountants in England and Wales ("ICAEW") and a fellow member of the Institute of Singapore Chartered Accountants ("ISCA"). He is also a Fellow of the Singapore Institute of Directors ("FSID").
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
2003 - Present
Managing Director
MBE Corporate Advisory Pte Ltd
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
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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)
SBI Offshore Limited (2015-2016)
Singapore eDevelopment Ltd (2014-2017)
YOMA Strategic Holdings Ltd (2006-2017)
Present
AEM Holdings Limited (2006-present)
Grand Banks Yachts Limited (2011-present)
Global Invacom Group Limited (2012-present)
Memories Group Limited (2017-present)
Broadway Industrial Group Ltd (2019-present
MBE Corporate Advisory Pte Ltd (2003-present)
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Mr Chan is currently Independent Director of :
AEM Holdings Limited
Grand Banks Yachts Limited
Global Invacom Group Limited
Memories Group Limited (formerly SHC Capital Limited)
Broadway Industrial Group Ltd

He was also formerly the non-executive director of :
SBI Offshore Limited
YOMA Strategic Holdings Ltd
Singapore eDevelopment Ltd (formerly CCM Group Limited)