Change - Announcement of Appointment::APPOINTMENT OF A NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR TO AUDIT COMMITTEE

Issuer & Securities

Issuer/ Manager
MANHATTAN RESOURCES LIMITED
Securities
MANHATTAN RESOURCES LIMITED - SG1I14879601 - L02
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
12-Jan-2021 17:50:16
Status
New
Announcement Sub Title
APPOINTMENT OF A NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR TO AUDIT COMMITTEE
Announcement Reference
SG210112OTHR6K1B
Submitted By (Co./ Ind. Name)
MADELYN KWANG
Designation
COMPANY SECRETARY
Description (Please provide a detailed description of the event in the box below)
APPOINTMENT OF A NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR TO AUDIT COMMITTEE

Additional Details

Date Of Appointment
12/01/2021
Name Of Person
Elaine Low
Age
34
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board of Directors is of the view that based on Ms Low's qualification and experience, she will be able to contribute positively as member of the Audit Committee.

Ms Low was appointed as director on 2 May 2014 and was re-designated as a non-executive and non-independent director on 24 April 2017. Ms Low is a controlling shareholder of the Company.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-executive and non-independent director and member of the Audit Committee.
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
Ms Low is the daughter of Dato' Dr. Low Tuck Kwong, and sister of Mr Low Yi Ngo, the Managing Director and Chief Executive Officer of the Company. Dato' Dr. Low and Mr Low Yi Ngo are controlling shareholders of the Company.
Conflict of interests (including any competing business)
Ms Low is a shareholder and director of KaiYi Investment Pte. Ltd. ("KaiYi"), a controlling shareholder of the Company. KaiYi and the Company are shareholders of a joint venture company, Manhattan Resources (Ningbo) Property Limited, a company incorporated in the People's Republic of China to undertake a property development project in Ningbo, China.

Ms Low is also a shareholder and director of Gallant Power Pte Ltd and Energy Resource Investment Pte. Ltd. ("ERI"). ERI is a controlling shareholder of the Company. Gallant Power Pte Ltd and Dato' Dr. Low Tuck Kwong are shareholders of the Company's subsidiary (86.11% indirectly held by the Company), PT Kariangau Power, a company established in Indonesia.
Working experience and occupation(s) during the past 10 years
Ms Low is currently a Director of the following companies:

1. Energy Resource Investment Pte. Ltd.
2. Farrer Way Pte. Ltd.
3. One Farrer Pte. Ltd.
4. The Farrer Park Company Pte. Ltd.
5. KaiYi Investment Pte. Ltd.
6. Singapore Health Partners Pte. Ltd.
7. Farrer Park Education Pte. Ltd.
8. PT Dermaga Perkasapratama
9. Singxin Resources Pte Ltd
10. Sums Resources Pte Ltd
11. Wilton Investments Pte Ltd
12. Super Sea Cable Networks Pte Ltd
13. Seax Global Pte Ltd
14. Seax Malaysia Sdn Bhd
15. Sea Cable Exchange Networks Pte Ltd
16. OC Partners Pte Ltd
17. Onward Capital Pte Ltd
18. Gallant Healthcare Limited
19. PT Kariangau Power

Ms Low graduated with a Master's Degree in Public Policy in 2014 in National University of Singapore, Lee Kuan Yew School of Public Policy.

Ms Low is an affiliate of the Association of Chartered Certified Accountants and a member of the Institute of Singapore Chartered Accountants.
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
1,849,521,700 (61.93%)
# 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)
Sisdel Pte Ltd (Struck off)
Starsmind Capital Pte Ltd
Present
Please see attached Appendix 1.

(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?
Yes
If Yes, Please provide details of prior experience
Manhattan Resources Limited

Attachments