Change - Announcement of Appointment::Appointment of Non Executive Independent Director

Issuer & Securities

Issuer/ Manager
USP GROUP LIMITED
Securities
USP GROUP LIMITED - SG1CH0000007 - BRS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
03-Jan-2019 00:37:57
Status
New
Announcement Sub Title
Appointment of Non Executive Independent Director
Announcement Reference
SG190103OTHRHZQW
Submitted By (Co./ Ind. Name)
Ee Ling
Designation
Executive Director
Effective Date and Time of the event
02/01/2019 17:00:00
Description (Please provide a detailed description of the event in the box below)
Following the appointment, the Board wishes to update that the composition of the Board and Board Committees shall be as follows with effect from 2 January 2019:

Board of Directors:
Mr. Goh Chong Theng (Non Executive Chairman and Independent Director)
Ms. Nah Ee Ling (Executive Director / Chief Financial Officer)
Mr. Yip Mun Foong (Lead Independent Director)
Mdm. Weng Huixin (Non Executive Director and Non-Independent Director)
Mr. Wong Peng Wai (Non Executive Director and Independent Director)

Audit and Risk Management Committee:
Mr. Goh Chong Theng (Chairman)
Mr. Yip Mun Foong (Member)
Mdm. Weng Huixin (Member)

Nominating Committee:
Mr. Yip Mun Foong (Chairman)
Mr. Goh Chong Theng (Member)
Mr. Wong Peng Wai (Member)

Remuneration Committee:
Mr. Yip Mun Foong (Chairman)
Mr. Goh Chong Theng (Member)
Ms. Nah Ee Ling (Member)

Additional Details

Date Of Appointment
02/01/2019
Name Of Person
Wong Peng Wai
Age
64
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 has reviewed the experience and qualification of Mr Wong Peng Wai, having considered the recommendation of the Nominating Committee, is of the view that the appointment of Mr Wong Peng Wai as a Non
Executive and Independent Director of the Board is appropriate.
Whether appointment is executive, and if so, the area of responsibility
Non Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
NC member
Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
Mr Peter Wong has been involved in international business development, enterprise development venture investment over that last 18 years, particularly in the start-up and technology segments. He is presently business owner of a management consultancy firm which advises and consults companies to commercialise technologies and internationalize businesses.

Until end 2018, he was involved in a start up to commercialize Japanese innovations and was a cofounder/COO of a cryptocurrency platform incorporated in US.

Prior to that, Mr Wong was involved in start up development and management of three venture investment funds in the technology innovation and Info-comm segments, over 12 years. The first fund, from Year 2001, was a $110 mill fund investing into seed and early stage innovation start ups. The second fund was a $300 mill fund for investments into ventures and projects in the information communications space. The third fund, a $65 mill fund was aimed at investments into growth stage companies.

He was the Executive Director for Asia Pacific Region of a Singapore Government agency involved in investment promotion, and was involved in joint industrial park development in China, Indonesia, India and Vietnam, helping Singapore based companies internationalise.

Mr Wong had been assigned to the Singapore Embassy in Tokyo for 7 years. As Counsellor for Industry, he facilitated Japanese companies invest and internationalise through Singapore and involved in bilateral matters related to industries. Other than his experience in the diplomacy and industry portfolio, Mr Wong had worked 10 years in the Ministry of Defence, and Ministry of Home Affairs and Ministry of Communications and Information. At the Ministry of Communications and Information, he was involved in telecommunications policies.

Mr Peter Wong graduated from Osaka University with a Bachelor of Engineering in Electronic Engineering on a Japanese Government Mombusho Scholarship. He obtained a MBA degree from the National University of Singapore in mid 1980 s, and attended the Kellogg Advanced Executive Programme at the Northwestern University in the mid 1990 s. He is tri-lingual, fluent in both writing and speaking English, Chinese and Japanese.

Mr Wong was awarded the Singapore Government Public Administration (Bronze) and Public Administration (Silver) Medals for his work and services in the Public Service.
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)
Zionview Investments Pte Ltd
SMGC Pte Ltd
Adjuvant Vaccines International Pte Ltd
Giantway Management Limited
Present
Giantway Group Limited
(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 Wong will be attending the relevant training.