Change - Announcement of Appointment::Appointment of Independent Director

Issuer & Securities

Issuer/ Manager
HEALTHWAY MEDICAL CORPORATION LIMITED
Securities
HEALTHWAY MEDICAL CORP LTD - SG1X09940682 - 5NG
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
13-Jul-2016 21:03:21
Status
New
Announcement Sub Title
Appointment of Independent Director
Announcement Reference
SG160713OTHR39BV
Submitted By (Co./ Ind. Name)
Wong Ong Ming, Eric
Designation
Non-Executive Non-Independent Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Director

This announcement has been prepared by Healthway Medical Corporation Limited (the "Company") and its contents have been reviewed by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Gillian Goh, Director, Head of Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.

Additional Details

Date Of Appointment
13/07/2016
Name Of Person
Ho Sun Yee
Age
61
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Upon the recommendation of the Nominating Committee, which had reviewed the qualifications and experience of Ho Sun Yee ("Mr Ho"), the Board of Directors approved his appointment as an Independent Director of Healthway Medical Corporation Limited (the "Company" or "HMC"). The Board considers Mr Ho to be independent for the purposes of Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited.
Whether appointment is executive, and if so, the area of responsibility
No. Appointment is non-executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
September 2005 to September 2008 - Chief Executive Officer, Singapore Heart Foundation
October 2009 to September 2011 - Chief of Staff, Siloam Hospitals Group (Indonesia)
December 2011 to date - Managing Partner, Decision Processes Int'l (PI)
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# 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)
Focus on the Family Singapore Limited
Present
Nil
(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
Auston International Group when I was an independent director from 1 October 2003 to 25 August 2005. The Board and Audit Committee noted irregularities in Auston's accounts of July 2000 to 2002 which could be false and misleading statements and decided to make a report to the CAD on 8 December 2004. M/s Deloitte & Touche was also commissioned to do a thorough investigation which revealed that there were accounting irregularities within Auston pertaining to the treatment of university fees payable by Auston to its university partners. The CEO and CFO were charged and dealt with, for offences under Section 477A of the Penal Code and the SFA. In Auston International Vs Public Prosecutor [2007] SGHC 219, the judge, on appeal, ruled that the CEO and CFO were really liable rather than the Company and reduced the fine of the Company from S$90,000 to S$10,000. I was not a subject of investigation nor was I fined or penalized as the accounts in question were from July 2000 to 2002 before my appointment as independent director on 1 October 2003.
(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 a listed company?
Yes
If Yes, Please provide details of prior experience
Independent Director of Auston International Group Ltd for the period 1 October 2003 to 25 August 2005.