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

Issuer & Securities

Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
05-Sep-2016 17:36:15
Status
New
Announcement Sub Title
Appointment of Independent Non-Executive Director
Announcement Reference
SG160905OTHRS0I8
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Non-Executive Director and Audit & Risk Committee Member

Additional Details

Date Of Appointment
05/09/2016
Name Of Person
Alan Koh Thiam Hock
Age
66
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The appointment of Mr Koh as an Independent Non-executive Director and member of the Audit & Risk Committee was recommended by the Nominating Committee and approved by the Board, after taking into consideration Mr Koh's extensive experience in the areas of corporate and investment banking, especially in the real estate and construction space, as well as in the areas of strategic planning and risk management.
Whether appointment is executive, and if so, the area of responsibility
No
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director and member of the Audit & Risk Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
2012 - April 2016
Vice Chairman and General Manager of Bank of America NT & SA (Singapore Branch)
Took on the role to groom new senior local talent and assist with the transition. Focus was to oversee the various businesses housed within the Branch and specifically to continue his role as the principal officer liaising with the Regulators on its activities.

Continued to chair the local management committee which comprises the various business line and enterprise control and operations heads to ensure the smooth functioning of the Bank. Also provides oversight to ensure compliance with statutory and regulatory obligations.

2009 - 2011
Country Executive of the merged Singapore operations for both Bank of America (Singapore Branch) and Merrill Lynch Singapore (~ 2,000 combined headcount).
Activities revolved around 4 major legal entities delivering a Universal Bank approach to clients in Corporate and Investment Banking, Wealth Management, Markets and Commodities. Aside from Revenue/Return goals, the broadened function included oversight responsibilities for Compliance (Regulatory, AML/KYC and Fraud Detection/escalation and remediation protocols including the code of ethics and conduct), Finance (Statutory Accounts, Audit, Tax and the financial reporting and disclosure process), Human Resource (staff retention, diversity, career mobility alignment of roles and responsibilities) and Risk (Credit, Market, Liquidity and Operations) and Client Fulfilment (post execution services across business lines).
He was also a Council Member of the Association of Banks for over 5 years.

2004 - 2008
Country Executive of the former Bank of America (prior to merger).
Duties entailed both revenue/return goals and oversight over operations/control/governance support roles for the legal entity. The Bank was then an active industry player in the construction and real estate space and prior to 2009, he helped set up the underwriting guidelines on Real Estate and Construction Lending and monitoring for the Bank to align it with the head office protocols.
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# 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)
Bank of America Singapore Limited
Bank America Nominees (1993) Pte Ltd
Present
None
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Mr Koh will be provided with appropriate briefings and training in the roles and responsibilities of a director of a listed company in Singapore.