Change - Announcement of Appointment::Appointment of Independent Director

Issuer & Securities

Issuer/ Manager
TRAVELITE HOLDINGS LTD.
Securities
TRAVELITE HOLDINGS LTD. - SG1BF1000002 - BCZ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Nov-2019 18:26:16
Status
New
Announcement Sub Title
Appointment of Independent Director
Announcement Reference
SG191101OTHRFJCM
Submitted By (Co./ Ind. Name)
Thang Teck Jong
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Director, who is the Chairman of the Remuneration Committee and Nominating Committee and a member of the Audit Committee.

Additional Details

Date Of Appointment
04/11/2019
Name Of Person
Clemen Chiang Wen Yuan
Age
45
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Please refer to Item 1 of Appendix A for further details.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Remuneration Committee and Nominating Committee and a member of the Audit Committee.
Professional qualifications
Bachelor of Engineering (Civil), Nanyang Technology University, Singapore;
Master of Business Administration, University of Louisville, United States of America; and
Doctor of Philosophy, University of Canberra, Australia
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
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
2009 to 2011: Engaged in the business of a private school
2011 to 2017: Full-time student in the course for the Doctor of Philosophy
2016 to present: Engaged in the business of financial technology at Aly 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
# 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)
Directorships:
Virality Pte. Ltd.

Other Principal Commitments:
None
Present
Directorships:
Aly Pte. Ltd.

Other Principal Commitments:
None
(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?
Yes
If Yes, Please provide full details
Dr Chiang was a director of Freely Pte. Ltd. from 19 April 2001 until its dissolution via compulsory winding up (insolvency) on 4 September 2014. Please refer to paragraph (f) below for further details.
(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?
Yes
If Yes, Please provide full details
No judgment has been entered against Dr Chiang in any civil proceedings in Singapore or elsewhere, and Dr Chiang has not been the subject of any civil proceedings, during the last 10 years. However, Dr Chiang was a director of Freely Pte. Ltd. which was held liable for unfair practice under the Consumer Protection (Fair Trading) Act in relation to a civil claim. Please refer to Item 2 of Appendix A for further details.
(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
Dr Chiang was a director of Freely Pte. Ltd., a company exempted from holding Capital Markets Services Licence to carry on business in fund management to not more than 30 qualified investors as defined under the Securities and Futures Regulations. In January 2007, Freely Pte. Ltd. was issued a supervisory warning from the Monetary Authority of Singapore ("MAS") for breaching a direction issued by the MAS by stating on its website that "Freely Investments has been awarded a licence by the MAS to manage funds for up to 30 high-net worth individuals", which is in contravention of section 101(1) of the Securites and Futures Act, Chapter 289.
(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
Served as an independent director, the chairman of the Nominating Committee and a member of the audit committee and remuneration committee of Travelite Holdings Ltd. from 15 February 2007 to 24 April 2009.

Attachments

Appendix A.pdf
Total size =196K