Change - Announcement of Appointment::APPOINTMENT OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
MAGNUS ENERGY GROUP LTD.
Securities
MAGNUS ENERGY GROUP LTD. - SG1AI2000007 - 41S
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-May-2019 18:03:09
Status
New
Announcement Sub Title
APPOINTMENT OF INDEPENDENT DIRECTOR
Announcement Reference
SG190531OTHRSO4V
Submitted By (Co./ Ind. Name)
Luke Ho Khee Yong
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Wee Liang Hiam as Independent Director.

This announcement has been reviewed by the Company s sponsor, Stamford Corporate Services Pte Ltd (the Sponsor ). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the SGX-ST ) and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Bernard Lui.
Tel: 6389 3000 Email: bernard.lui@morganlewis.com




Additional Details

Date Of Appointment
01/06/2019
Name Of Person
Wee Liang Hiam
Age
56
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee ("NC") has reviewed Mr Wee s qualifications and experience to be complementary to the skills of the Board, and the Board has accepted the NC's recommendation and has approved his appointment as an Independent Director of the Company and a member in all the Board Committees. The Board is of view that he has the requisite experience and capability to assume the responsibility of an Independent Director of the Company as well as being a member in all Board Committees.
Whether appointment is executive, and if so, the area of responsibility
Not Applicable
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director. Audit Committee member. Remuneration Committee member. Nominating Committee member.
Professional qualifications
Fellow Chartered Accountant (Singapore)
ASEAN Chartered Professional Accountant
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
Directorship
2018 - 2019 - Shanghai Turbo Enterprises Ltd - Lead Independent Director (Chairman, RC)
2016 - 2018 - Global Dragon Limited - Lead Independent Director (NC; RC; Chairman, AC)
2016 - 2017 - PSL Holdings Limited - Independent Director (Chairman, NC)
2015 - 2016 - Sincap Group Limited - Lead Independent Director (Chairman, AC)
2009 - 2015 - Hu An Cable Holdings Ltd - Lead Independent Director (Chairman, AC & NC)
2009 - 2013 - China Farm Equipment Limited - Independent Director (Chairman, RC)
2009 - 2011 - Asia Environment Holdings Limited - Lead Independent Director (Chairman, AC & NC)
2009 - 2011 - Mercurius Capital Investment Limited - Executive Director
2008 - 2011 - China Angel Food Limited - Independent Director (Chairman, NC & RC)
2006 - 2009 - Advance Modules Group Limited. - Independent Director (Chairman, AC)


Head of Finance
2007 - Current - GG Capital - Business Consultant
2016 - Current - Olive Tree Estates Limited - Chief Financial Officer
2011 - 2012 - Starland Holdings Limited - Chief Financial Officer
2009 - 2011 - Friven & Co Ltd - Chief Financial Officer / Executive Director


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)
Directorship
2018 - 2019 Shanghai Turbo Enterprises Ltd
- Lead Independent Director (Chairman, RC)
2016 - 2018 Global Dragon Limited
- Lead Independent Director (NC; RC; Chairman, AC)
2016 - 2017 PSL Holdings Limited
- Independent Director (Chairman, NC)
2015 - 2016 Sincap Group Limited
- Lead Independent Director (Chairman, AC)
2009 - 2015 Hu An Cable Holdings Ltd
- Lead Independent Director (Chairman, AC & NC)

Head of Finance
2007 - Current GG Capital
- Business Consultant
2016 - Current Olive Tree Estates Limited
- Chief Financial Officer
Present
Directorship
Nil

Head of Finance
2007 - Current GG Capital
- Business Consultant
2016 - Current Olive Tree Estates Limited
- Chief Financial Officer
(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
2018 - 2019 - Shanghai Turbo Enterprises Ltd - Lead Independent Director (Chairman, RC)
2016 - 2018 - Global Dragon Limited - Lead Independent Director (NC; RC; Chairman, AC)
2016 - 2017 - PSL Holdings Limited - Independent Director (Chairman, NC)
2015 - 2016 - Sincap Group Limited - Lead Independent Director (Chairman, AC)
2009 - 2015 - Hu An Cable Holdings Ltd - Lead Independent Director (Chairman, AC & NC)
2009 - 2013 - China Farm Equipment Limited - Independent Director (Chairman, RC)
2009 - 2011 - Asia Environment Holdings Limited - Lead Independent Director (Chairman, AC & NC)
2009 - 2011 - Mercurius Capital Investment Limited - Executive Director
2008 - 2011 - China Angel Food Limited - Independent Director (Chairman, NC & RC)
2006 - 2009 - Advance Modules Group Limited. - Independent Director (Chairman, AC)