Change - Announcement of Appointment::Re-designation from Non-Executive Chairman to Executive Director

Issuer & Securities

Issuer/ Manager
AEI CORPORATION LTD.
Securities
AEI CORPORATION LTD - SG1AJ1000006 - AWG
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
23-Mar-2020 20:43:56
Status
New
Announcement Sub Title
Re-designation from Non-Executive Chairman to Executive Director
Announcement Reference
SG200323OTHRYVUM
Submitted By (Co./ Ind. Name)
Lum Soh Ping
Designation
Chief Financial Officer and Company Secretary
Description (Please provide a detailed description of the event in the box below)
Re-designation from Non-Executive Chairman to Executive Director.

Additional Details

Date Of Appointment
23/03/2020
Name Of Person
Sun Quan
Age
54
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
25/04/2019
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr Sun Quan relinquishes his position as Non-Executive Chairman to assume oversight of the Group's management. The NC recommended that Mr Sun Quan be re-designated from Non-Executive Chairman to Executive Director since he has undertaken executive functions.
Whether appointment is executive, and if so, the area of responsibility
Executive.

Oversees the Group's management.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Professional qualifications
He holds a Bachelor of Engineering from Beijing University of Technology, and obtained his EMBA from Tsinghua University.
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
2009-present: CEO of China Capital Impetus Investment Ltd
2011-present: CEO of China Capital Impeus Asset Management Pte Ltd
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
Deemed interest of 28,878,400 shares 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)
Overseas Chinese Headquarter Development Fund
Global Impetus Bullion Fund
Oriental Straits Fund II
Starbright(Beijing) Culture Development Co., Ltd
Beijing Dejoera Investment Co.Ltd
Vanguard Resources Pte Ltd
Present
Acumedical, Inc
AcuClinics, Inc
Asia Aviation Fund
Capital Impetus Group Limited
China Capital Asset Management Sdn. Bhd.
China Capital Impetus Asset Management Pte. Ltd.
Capital Impetus Advisory Pte. Ltd.
China Capital Impetus Fund
China Capital Impetus Investment Limited
Dejoera Holdings Ltd
Dejoera Investment Limited
Dejoera Pte. Ltd.
Prosperous Chinese Food Pte Ltd
Eaters Pte Ltd
Galaxy-Impetus Fund I
Meridian Group Limited
Meridian Impetus Holdings Pte. Ltd.
RHB GC-Millennium Capital Pte. Ltd
Capital Impetus Asset Management LLC
New Impetus Strategy Fund
Acumedical Development Fund LLC
CEL Impetus Corporate Finance Pte. Ltd.
The Place Holdings Limited
Ascent Bridge (Singapore) 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?
Yes
If Yes, Please provide details of prior experience
He was Non-Executive Chairman of the Company from 30 April 2018 before his re-designation to Executive Director.
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)
N.A.