Change - Announcement of Cessation::Resignation of Executive Director and Chief Executive Officer of the Company
Issuer & Securities
KS ENERGY LIMITED
KS ENERGY LIMITED - SG1G91873040 - 578
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Resignation of Executive Director and Chief Executive Officer of the Company
Submitted By (Co./ Ind. Name)
Andrew Grimmett and Lim Loo Khoon
Description (Please provide a detailed description of the event in the box below)
Please refer to the information below.
Name Of Person
Richard James Wiluan
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Judicial managers were appointed over KS Energy Limited (the Company ) and KS Drilling Pte. Ltd. by the High Court on 13 October 2020.
Pursuant to Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018) of Singapore (the Act ), during the period in which a company is in judicial management, all powers conferred and duties imposed on the directors of the company by this Act or the Companies Act (Cap. 50 of Singapore), or by the constitution of the company, must be exercised and performed by the judicial manager and not by the directors.
In view thereof, Mr. Richard James Wiluan resigned as Executive Director and Chief Executive Officer of the Company and KS Drilling Pte. Ltd. following the judicial management order.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director/ Chief Executive Officer of the Company and a Director and the Chief Executive Officer of KS Drilling Pte. Ltd.
Role and responsibilities
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Brother in law of Samuel Paul Oliver Carew-Jones, the Executive Director and Chief Financial Officer of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Direct Interest - Nil.
Deemed Interest - 859,563,713 shares. Mr. Richard James Wiluan is deemed interested in the 859,563,713 shares held by Pacific One Energy Limited.
Past (for the last 5 years)
1. SSH Corporation Ltd
2. SSH Corporation (PNG) Pte Ltd
3. KS Flow Control Pte Ltd
4. Globaltech Offshore & Marine Pte Ltd
5. PT KSD Indonesia
(formerly known as PT KS Flow Control)
6. PT Suryasarana Hidupjaya
7. KS Distribution (Vietnam) Company Limited
(formerly known as SSH (Vietnam) Company Limited)
8. KS Distribution Pte Ltd
9. KS Marinehub Pte Ltd
10. Aqua-Terra Supply Co. Ltd
11. Aqua-Terra Supply (Tianjin) Oilfield Equipment Trading Co. Ltd.
12. KS Distribution (Shanghai) Ltd
13. Oceanic Offshore Engineering Pte Ltd
14. Indo Synergy Pte Ltd
15. KS Distribution (Thailand) Limited
(formerly known as Deltametal (Thailand) Limited
16. KS Distribution (Malaysia) Sdn Bhd
17. KS Distribution (Aust) Pty Ltd
18. PT AT Oceanic Offshore
19. PT Unimas Motor Wasta
20. PT Dwi Sumber Daya Prawira
21. PT Citra Tubindo Tbk
22. PT Citra Sarana Baja
23. Dallan F.T.Z. Sin Soon Huat International Trade
24. KS Equipment (Shanghai) Ltd
25. Raymonds Supply (Shanghai) International Co. Ltd.
26. Sure Link Transportation Limited
27. PT Sarana Citranusa Kabil
28. PT Hymindo Petromas Utama
29. PT Citra Tubindo (International) Pte Ltd
30. NSCT Premium Tubulars BV
31. NS Connection Technology Inc
32. PT Saf Indousa
33. PT Intancitra Lagomindo
1. Rija Holdings Limited
2. Pacific One Energy Limited
3. KS Drilling Pte Ltd
4. KS Energy Engineering Services Pte Ltd
(formerly known as KS Fabrication and Engineering Pte Ltd)
5. PT Atlantic Oilfield Services
6. PT KS Drilling Indonesia
7. PT Java Star Rig
8. PT Sarana Citranusa Kabil
9. PT Citramadya Cargindo
10. Citra Tubindo (International) Pte Ltd
11. NS Connection Technology Pte Ltd
12. Citra Sumit Valind Investments Pte Ltd
13. Vietube Corporation Limited
14. PT Citra Agramasinti Nusantara
15 PT Dwi Sumber Arca Waja
16. PT Citra Tubindo Engineering
17. PT Citramasindah Realtindo
18. PT Haskon Citra Perdana
19. PT Citramas Wisata Nusa
(formerly known as PT Systran Electronics Zone)
20. PT Tirta Utama Riani Indah
21. PT Taman Nongsa Indah Village
22. PT Taman Resor Internet
23. PT Nongsapura Wahanabahari
24. PT Nongsa Terminal Bahari
25. PT Sarayana Daya Kabil
26. PT Citra Bonang
27. PT Sama Indah
28. PT SAF Indonusa
29. PT Indo Lysaght
30. PT Intancitra Logamindo
31. Nongsa Resorts Pte Ltd