ANNOUNCEMENT OF APPOINTMENT OF CHIEF FINANCIAL OFFICER

* Asterisks denote mandatory information

Name of Announcer *
IFS CAPITAL LIMITED
Company Registration No.
198700827C
Announcement submitted on behalf of
IFS CAPITAL LIMITED
Announcement is submitted with respect to *
IFS CAPITAL LIMITED
Announcement is submitted by *
Chionh Yi Chian
Designation *
Company Secretary
Date & Time of Broadcast
12-Mar-2014 17:29:48
Announcement No.
00077

ANNOUNCEMENT DETAILS

The details of the announcement start here ...
Name of person *
Heng Hock Kiong @ Heng Hang Siong
Age *
49
Country of principal residence *
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) *
The Board has conducted an extensive search process including both direct approaches and advertisement. Several candidates were initially short-listed and interviewed by the Executive and Resource Compensation Committee before Mr Heng was selected and appointed. Mr Heng has strong qualifications, experience and credentials to join IFS Capital Limited as its Chief Financial Officer. Mr Heng has over 20 years of experience as CFO and Finance Director in several listed companies, and has held key executive and leadership positions in various industries ranging from Telecommunication, Food to Healthcare and Oil & Gas. Mr Heng's experience included CFO of Hsu Fu Chi International Limited, CFO of Eu Yan Sang International Limited and Finance Director of M1 Limited. Mr Heng is also the winner of the prestige Best CFO of the Year Award of the Singapore Corporate Awards 2011.
Whether appointment is executive, and if so, the area of responsibility *
A full spectrum of Financial functions including Accounting, Investment Management and Financial Reporting. Other functions including Human Resource and General Administration.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Working experience and occupation(s) during the past 10 years *
2012 2013:
Finance Director of M1 Limited

2008 2012:
CFO of Eu Yan Sang International Limited

2005 2007:
CFO of Hsu Fu Chi International Limited

2003 2005:
CFO of Brightoil Petroleum (Holdings) Limited
Interest * in the listed issuer and its subsidiaries *
None
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries *
None
Conflict of interests (including any competing business) *
None

OTHER DIRECTORSHIPS

Past (for the last 5 years) *
2009 - 2013
Independent Director of China Minzhong Food Corporation Limited
Present
Baruch Consulting Pte Ltd

INFORMATION REQUIRED PERSUANT TO LISTING RULE 704(7)(H)

Disclose the following matters concerning an appointment of director, chief executive officer, general manager or other executive officer of equivalent rank. If the answer to any questions is "yes", full details must be given.
(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

INFORMATION REQUIRED PERSUANT TO LISTING RULE 704(7)(I)

Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
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