Change - Announcement of Appointment::Appointment of Independent Director

Issuer & Securities

Issuer/ Manager
MERCURIUS CAP INVESTMENT LTD
Securities
MERCURIUS CAP INVESTMENT LTD - SG2B96959558 - 5RF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
27-Feb-2023 19:53:07
Status
New
Announcement Sub Title
Appointment of Independent Director
Announcement Reference
SG230227OTHRCMKW
Submitted By (Co./ Ind. Name)
Chang Wei Lu
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Director

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes 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 person for the Sponsor is Mr. Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #18-03B, Suntec Tower 1, Singapore 038987, telephone (65) 69502188.

Additional Details

Date Of Appointment
01/03/2023
Name Of Person
Chong Cheong Sin
Age
44
Country Of Principal Residence
Malaysia
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The board of directors ("Board"), having considered the recommendation of the Nominating Committee and assessment of Mr. Chong Cheong Sin's ("Mr. Chong") academic and professional qualifications and working experience, is of the view that he has the requisite experience and capability to assume the responsibilities of an Independent Non-Executive Director of Mercurius Capital Investment Limited.

The Board considers Mr. Chong to be independent for the purpose of Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited ("Catalist Rules").
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 Nominating Committee and Remuneration Committee and member of the Audit Committee
Professional qualifications
Collegium Humanum of Warsaw Management University - Doctor of Business Administration (DBA)

International Teaching University of Georgia - Master of Business Administration (MBA)

International Teaching University of Georgia - Bachelor of General Management
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
2022 - Current
Managing Director, Mirac Financial Ltd

2012 - Current
Advisor, Self employed
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)
2019 - 2021
Deal Market Pte. Ltd.
Present
2022 - Present
Unigate Solutions Sdn Bhd

2022 - Present
Edumart Solutions Sdn Bhd

2021 - Present
Mirac Financial Ltd

2019 - Present
Wyne Solutions Pte Ltd

2019 - Present
TechR Solutions Pte Ltd

2018 - Present
MGI Limited

2018 - Present
Iglobsys Technology Sdn Bhd

2018 - Present
Foster Gain Holdings 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
Yes
If Yes, Please provide full details
Mr. Chong was a director of Maxficient Consultancy Sdn. Bhd. ("Maxficient"), which was investigated by Bank Negara Malaysia ("BNM") for suspicion of conducting illegal foreign currency dealings under Section 4 of the Exchange Control Act 1953. Mr. Chong was a director of Maxficient from April 2004 to October 2006, and ceased to be a director of Maxficient as a result of the dissolution of
Maxficient.

Based on Mr. Chong's recollection, Maxficient conducted courses on foreign currency exchange without the requisite licence, and was raided by BNM on or around 2006, notwithstanding that it is noted on BNM's website that the raid was in 2008. Maxficient was identified in BNM's Financial Fraud Alert List as well as Investor Alert List published by the Securities Commission Malaysia.

To the best of Mr. Chong's recollection, Mr. Chong had assisted in the investigation conducted by BNM in 2006. Mr. Chong was not actively involved in Maxficient's operations and business prior to the investigation conducted by BNM, nor was he informed of the subject of the investigation. Notwithstanding that BNM's website states that the investigation status is ongoing, as far as Mr. Chong is aware, since he had assisted BNM and as at the date of this declaration, there is no investigation ongoing against Mr. Chong and he has not received any updates nor was there a follow up on the investigation from his end.
(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
Pursuant to Rule 406(3)(a) of the Catalist Rules, the Company will arrange for Mr. Chong to attend the relevant training on the roles and responsibilities of a director of a listed issuer in Singapore prescribed by the Exchange under Practice Note 4D of the Catalist Rules within one year from the date of his appointment to the Board.