Change - Announcement of Appointment::Re-designation of Executive Director to Non-Executive Director

Issuer & Securities

Issuer/ Manager
ASIAPHOS LIMITED
Securities
ASIAPHOS LIMITED - SG2G24997246 - 5WV
ASIAPHOS LIMITED W200323 - SG5DS5000008 - 1C9W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Jul-2019 17:18:24
Status
New
Announcement Sub Title
Re-designation of Executive Director to Non-Executive Director
Announcement Reference
SG190701OTHRMYF6
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Re-designation of Executive Director to Non-Executive Director.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), Asian Corporate Advisors Pte. Ltd., for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Company's Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made.

This announcement has not been examined or approved by the Exchange and the Exchange 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. Liau H.K..
Telephone number: 6221 0271

Additional Details

Date Of Appointment
01/07/2019
Name Of Person
Ong Eng Hock Simon
Age
54
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board wishes to inform that Mr Ong Eng Hock Simon ("Mr Simon Ong"), who has been appointed as Non-Independent Executive Director of the Company since 1 October 2012, will be re-designated to Non-Independent Non-Executive Director with effect from 1 July 2019.

The Board is of the view that given the Group's operations have been substantially reduced, the re-designation of Mr Simon Ong will enable the Company to reduce management costs which will benefit stakeholders in the long run. Following the re-designation, Mr Simon Ong will continue to provide advice to the Group on its direction as and when required.

The Board is confident that having Dr Ong Hian Eng as the remaining Non-Independent Executive Director will be adequate for the current needs of the Group.
Whether appointment is executive, and if so, the area of responsibility
Nil
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent Non-Executive Director, member of Audit Committee and Remuneration Committee
Professional qualifications
i) Diploma in Accounting at North East London Polytechnic (now known as University of East London)
ii) Fellow of The Association of Chartered Certified Accountants
iii) Non-Practising Member of the Institute of Singapore Chartered Accountants
iv) Member of Certified Practicing Accountant, 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
Mr Simon Ong is:
i) Brother of Ms Melissa Ong, Human Resource and Administration Manager
ii) Nephew of Dr. Ong Hian Eng, Chief Executive Officer and Executive Director
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
2004 - July 2012
Chief Financial Officer of Hwa Hong Corporation Limited

October 2012 - 30 June 2019
Executive Director of AsiaPhos Limited
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
2,919,306 Ordinary Shares
# 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)
i) Norwest Chemicals Pte Ltd
Present
i) Astute Investment Holdings Pte. Ltd.
ii) Astute Ventures Pte Ltd
iii) LY Resources Pte. Ltd.
iv) AsiaPhos Resources Pte. Ltd.
v) XDL Resources Pte. Ltd.
vi) Sichuan Mianzhu Norwest Phosphate Chemical Company Limited
vii) Deyang City Xianrong Technical Consulting Co., 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?
Yes
If Yes, Please provide details of prior experience
Mr Simon Ong has been an Executive Director of AsiaPhos Limited since 1 October 2012.