Change - Announcement of Appointment::APPOINTMENT OF NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR - LIM CHEN CHONG

Issuer & Securities

Issuer/ Manager
ADVANCED SYSTEMS AUTOMATION LIMITED
Securities
ADVANCEDSYSTEMS AUTOMATION - SGXE59672050 - WJ9
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
27-Aug-2024 00:06:35
Status
New
Announcement Sub Title
APPOINTMENT OF NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR - LIM CHEN CHONG
Announcement Reference
SG240827OTHRE4FF
Submitted By (Co./ Ind. Name)
DATO' SRI MOHD SOPIYAN B MOHD RASHDI
Designation
DIRECTOR
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by Advanced Systems Automation Limited (the "Company") and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("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 Ms Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Date Of Appointment
26/08/2024
Name Of Person
LIM CHEN CHONG
Age
56
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 appointment of Lim Chen Chong ("Mr Lim") as a director of the Company ("Director") is part of the Company's acquisition of LSO Organization Holdings Pte. Ltd. ("LSO") and his appointment had been approved by shareholders of the Company at an extraordinary general meeting on 20 July 2024. Mr Lim has more than 30 years of experience in the development, operation, management of and commercial track record in shrimp farming and sustainable aquaculture ecosystems, and the Nominating Committee is of the view that the Company can leverage on Mr Lim's expertise and capabilities to ensure the smooth operation and to achieve the desired business outcomes of the Company's new business in the aquaculture business. Accordingly, the Nominating Committee has recommended the appointment of Mr Lim to the Board of Directors ("Board") for consideration. The Board, having considered the recommendation of the Nominating Committee and the experience of Mr Lim, approved the appointment of Mr Lim as a Non-Executive and Non-Independent Director.

Please refer to section 6.1 of the Company's circular to shareholders of the Company dated 5 July 2024 for the profile of Mr Lim.
Whether appointment is executive, and if so, the area of responsibility
Appointment is Non-Executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Non-Independent Director
Professional qualifications
Bachelor of Business Administration, University of Miami
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 Lim is a substantial shareholder of the Company, details as set out below.
Conflict of interests (including any competing business)
None.
Working experience and occupation(s) during the past 10 years
Mar 1992 to Present - Waterfront Marina Resort Pte Ltd - Director In Charge Of Operation
Sep 1995 to Sep 2020 - T.K. Properties Pte Ltd - Director
Sep 1995 to Present - Marina City Development Pte Ltd - Director in Charge of Operation, Marketing
Sep 1995 to Present - T.K. Lim Realty Private Limited - Director in Charge of Operation
Sep 2007 to Present - Lim Shrimp Organization Limited - Ex-CEO in charge of all high level planning and operation and currently act as an Advisor guiding the current CEO
Apr 2013 to Present - LSO Hainan Pte Ltd - Director
Aug 2021 to Sep 2022 - Asian Development Bank - Advisor
Oct 2021 to Present - Cableco Investments Pte Ltd - Director in Charge of Investment
Nov 2021 to Present - The Biolabs Pte Ltd - Vice Chairman in Charge of Operation and Marketing
Apr 2022 to Present - Three S Asset Management Pte Ltd - Alternate Director in Charge of Investment
Dec 2002 to Present - Selectinvestments Pte Ltd - Director in Charge of Investment
Jun 2023 to Present - Ubody Pte Ltd - Director in Charge of Operation and Marketing
Jun 2023 to Present - Udetox Holdings Pte Ltd - Director in Charge of Operation
Aug 2023 to Present - Lim Shrimp Corporation Pte Ltd - Director
Aug 2023 to Present - LSO Organization Holdings Pte Ltd - Director
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
Advanced Systems Automation Limited - 61,538,461 ordinary shares

Lim Shrimp Organization Limited - 950,000 ordinary shares

Lim Shrimp Corporation Pte Ltd - 100 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)
Modular Tech Pte Ltd
Pines Ventures Pte Ltd
T.K. Properties Pte Ltd
Present
Advanced Systems Automation Limited
Lim Shrimp Organization Limited
Cableco Investments Pte Ltd
Three S Asset Management Pte Ltd
Selectinvestments Pte Ltd
Lim Shrimp Aquapolis Pte Ltd
Lim Shrimp Corporation Pte Ltd
LSO Organization Holdings Pte Ltd
LSO Hainan Pte Ltd
Marina City Development Pte Ltd
T.K. Lim Realty Private Limited
Ubody Pte Ltd
Udetox Holdings Pte Ltd
Waterfront Marina Resort Pte Ltd
PT Gajah Udang
Alethea Marine Culture Sdn Bhd
The Biolabs 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
Mr Lim will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange.
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.