Change - Announcement of Appointment::Appointment of Independent Non-executive Director
Issuer & Securities
ASL MARINE HOLDINGS LTD.
ASL MARINE HOLDINGS LTD - SG1N25909283 - A04
ASL MARINE HLDGS W240723 - SGXN46430124 - WG2W
Change - Announcement of Appointment
Date &Time of Broadcast
Announcement Sub Title
Appointment of Independent Non-executive Director
Submitted By (Co./ Ind. Name)
Koh Kai Kheng Irene
Group Financial Controller
Effective Date and Time of the event
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Non-executive Director
Date Of Appointment
Name Of Person
Tan Huay Lim
Country Of Principal Residence
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee has recommended the appointment of Mr. Tan as an Independent Non-executive Director and the Board of Directors approved Mr. Tan's appointment based on his qualifications and working experience.
The Board with the recommendation from the Nominating Committee has considered the following:
(i) the size and structure of the Board;
(ii) the composition of the Board, including the balance and diversity of skills, experience and knowledge of members of the Board; and
(iii) the experience, skills and qualifications of Mr. Tan.
The Board is of the view that Mr. Tan's accounting and auditing experience will further complement and strengthen the core competencies of the Board.
Whether appointment is executive, and if so, the area of responsibility
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-executive Director, Lead Independent Director, Chairman of Audit Committee, Member of Remuneration and Nominating Committees
Mr. Tan graduated with a Bachelor of Commerce (Accountancy) from Nanyang University, Singapore, in 1978. He is a Fellow Member of the Institute of Singapore Chartered Accountants, the Association of Certified Accountants, UK, and the Certified Practising Accountants (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
Conflict of interests (including any competing business)
Working experience and occupation(s) during the past 10 years
Mr. Tan was an Audit Partner of KPMG Singapore with more than 30 years of accounting and auditing experience until his retirement in September 2015. In addition, he was involved in a number of initial public offerings, debt financing and merger and acquisition transactions during his tenure at KPMG Singapore.
Mr. Tan is currently an Independent Non-executive Director and Chairman of the Audit Committee of three listed entities/ trust.
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
Shareholding interest in the listed issuer and its subsidiaries?
Mr. Tan currently has the following interests (under the name of a nominee) in the Company:
i) S$690,000 Series 007 Notes (comprising 0.5% of the current outstanding principal amount of the Series 006 and Series 007 Notes of S$138 million); and
ii) 1,734,375 Warrants (assuming if all the current 567,130,713 Warrants are converted into shares, this would represent 0.14% of the enlarged share capital of the Company)
# 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)
Sun Yat Sen Nanyang Memorial Hall Company Limited
Singapore Hokkien Huay Kuan Cultural Academy Pte. Ltd.
The Hokkien Foundation
Yunnan Realty Pte Ltd
Auric Pacific Group Limited
Hong Leong Asia Ltd.
Singapore Hokkien Huey Kuan
Ren Ci Hospital
China Jinjiang Environment Holding Company Limited
Dasin Retail Trust Management Pte. Ltd.
Koufu 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?
(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?
(c) Whether there is any unsatisfied judgment against him?
(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?
(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?
(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?
(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?
(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?
(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?
(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
(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
If Yes, Please provide full details
Ren Ci Hospital & Medicare Centre ("RCHMC")
On 29 March 2009, Mr. Tan was interviewed by the Commercial Affairs Department ("CAD") in his capacity as a
member of the Management Committee of RCHMC in connection with CAD's investigations in the affairs
of RCHMC. Mr. Tan has clarified that he was not the subject of the foregoing investigations and following
the interview, he has not been required by the CAD to provide any further assistance in the matter for
which he was interviewed. RCHMC, which was registered as a society under the Societies Act, Chapter
311, was voluntarily dissolved on 31 March 2013.
(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
(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?
(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?
Any prior experience as a director of an issuer listed on the Exchange?
If Yes, Please provide details of prior experience
Mr. Tan is currently an Independent Non-executive Director and Chairman of the Audit Committee of China Jinjiang Environment Holding Company Limited ("China Jinjiang"), Dasin Retail Trust Management Pte Ltd, the Trustee-Manager of SGX-ST listed Dasin Retail Trust ("Dasin") and Koufu Group Limited ("Koufu").
He also holds positions as Member of the Nominating Committee of China Jinjiang as well as Member of the Remuneration Committee of Dasin and Koufu.