Change - Announcement of Appointment::APPOINTMENT OF CHIEF TECHNOLOGY OFFICER

Issuer & Securities

Issuer/ Manager
ADDVALUE TECHNOLOGIES LTD
Securities
ADDVALUE TECHNOLOGIES LTD - SG1I67883666 - A31
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-Jan-2023 17:33:25
Status
New
Announcement Sub Title
APPOINTMENT OF CHIEF TECHNOLOGY OFFICER
Announcement Reference
SG230131OTHR50AS
Submitted By (Co./ Ind. Name)
DR CHAN KUM LOK COLIN
Designation
EXECUTIVE CHAIRMAN
Description (Please provide a detailed description of the event in the box below)
Appointment of Chief Technology Officer

Additional Details

Date Of Appointment
01/02/2023
Name Of Person
LOW BOON LENG (FRANCIS)
Age
45
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The promotion of Mr Francis Low from Deputy Chief Technology Officer to Chief Technology Officer was recommended by the Nominating and Remuneration Committee ("NRC") of the Company and approved by the Board of Directors based on his qualifications, work experience and followed by his one-year training by Mr Bernard Wong, who is a qualified CEO coach.

The Board has reviewed the qualifications and experience of Mr Francis Low and is of the view that he can contribute to the growth of the Company (refer to work experience below).
Whether appointment is executive, and if so, the area of responsibility
The appointment is executive. Mr Low will assist the Chief Executive Officer in the overall operations of the Company and its subsidiaries which includes developing, establishing and implementing the Group's technology roadmap.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Technology Officer (CTO)
Professional qualifications
Mr Low graduated with a MSc in Electrical Engineering with specialization in wireless communication from the Nanyang Technological University.
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
Mr Low joined the Group in 2001 as an engineering intern and subsequently became a design engineer in developing wireless solutions for different sectors in defence, automotive and semiconductor industries.

From 2014 to 2018, he took on different programs leads as he was heavily involved in various product development programs with his technical strengths in (FPGA) Field Programmable Gate Array, ASIC (Application Specific Integrated Circuit), digital signal processing, RF (Radio Frequency) and Microwave.

In 2019, he was appointed as the Head of Advanced Development and elevated to help CTO manage the Technology and Engineering Department for overall technical resources and roadmap planning. At the same time, he was under the tutelage of CTO to understand how to design technical programs to be in alignment with the strategic business direction of the company as well as gaining more exposure to key partners in satcom industries including Inmarsat, Thuraya, Viasat, Iridium, and a host of companies in space industry, as well as other technical partners such as Avnet, AMD-Xilinx and A*Star. He interacted with EDB OSTin for grant application and verification matters. He also represented the company as a speaker in conferences such as GSTC and Singapore Space Symposium.

In order to assess his potential for CTO, Mr Low was appointed Deputy CTO in January 2022 and was put under a dedicated executive training program by Bernard Wong, who is our Independent Director and also a certified trainer for senior management executives for his career grooming.

In sum, Mr Low has more than 20 years of experience in design and development experiences in digital wireless communications systems and contributed significantly in the IDRS and software defined radio embedded solutions for the company with his last five years of experience and exposure at a higher and strategic management role.
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?
Yes
Shareholding Details
10,300,000
# 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)
Deputy CTO at Addvalue Innovation Pte Ltd
Head of Advanced Development at Addvalue Innovation
Manager of Advanced Development at Addvalue Innovation
Manager of System Test at Addvalue Innovation
Present
Deputy CTO at Addvalue Innovation 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?
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
Any prior experience as a director of an issuer listed on the Exchange?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
Not applicable. This pertains to the appointment of CTO
Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable)
Not applicable. This pertains to the appointment of CTO