Change - Announcement of Cessation::Retirement of Executive Director
Issuer & Securities
HIAP TONG CORPORATION LTD.
HIAP TONG CORPORATION LTD. - SG1Z16951381 - 5PO
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Retirement of Executive Director
Submitted By (Co./ Ind. Name)
Lo Swee Oi
Description (Please provide a detailed description of the event in the box below)
The Sponsor of the Company, CIMB Bank Berhad, Singapore Branch ("Sponsor") is satisfied that there is no other reason for Mr Ng Eng Joo's cessation.
This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST and Sponsor assume no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact persons for the Sponsor are Mr Yee Chia Hsing, Head, Catalist, Investment Banking and Mr Ken Lee, Associate Director, Investment Banking, CIMB Bank Berhad, Singapore Branch. The contact particulars are 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: (65) 6337 5115.
Name Of Person
Ng Eng Joo
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
As disclosed in the Corporate Governance Statement of the Company's Annual Report 2018, Mr Ng Eng Joo has decided to retire and not seek re-election after the Annual General Meeting held on 25 July 2018.
Following Mr Ng's retirement as a Director, he would continue to serve the Group in his capacity as Head of Operations.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Role and responsibilities
Mr Ng Eng Joo is jointly responsible for overseeing the Group's trading business and also in charge of managing the deployment of the Group's resources for its leading business.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Ng Eng Joo is:-
(1) cousin of Mr Ong Teck Meng, the Executive Chairman and Chief Executive Officer of the Company
(2) cousin of Mr Ong Lim San, the Executive Director of the Company
(3) uncle of Mr Ong Boon Tat, Alvin, the Executive Director of the Company
Shareholding interest in the listed issuer and its subsidiaries?
Direct interests: 210, 418 ordinary shares
Past (for the last 5 years)
(1) Hiap Tong Trading Pte. Ltd.
(2) Hiap Tong Crane & Transport Pte Ltd
(3) Hiap Tong Crane & Transport Sdn Bhd
(4) HT Infrastructure Private Ltd
(5) Jebat Machinery Sdn. Bhd.
(6) HT Ports Services Pte. Ltd.