Change - Announcement of Appointment::Appointment of Independent Director - Dr. Veerinderjeet Singh A/L Tejwant Singh

Issuer & Securities

Issuer/ Manager
ZICO HOLDINGS INC.
Securities
ZICO HOLDINGS INC. - MYA007968003 - 40W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
08-Apr-2024 17:15:51
Status
New
Announcement Sub Title
Appointment of Independent Director - Dr. Veerinderjeet Singh A/L Tejwant Singh
Announcement Reference
SG240408OTHRBI7R
Submitted By (Co./ Ind. Name)
Datuk Ng Hock Heng
Designation
Group Chief Executive Officer
Effective Date and Time of the event
08/04/2024 17:00:00
Description (Please provide a detailed description of the event in the box below)
Appointment of Dr. Veerinderjeet Singh A/L Tejwant Singh as the Company's 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 Ms Vanessa Ng.
Tel: 6389 3065 Email: vanessa.ng@morganlewis.com

Additional Details

Date Of Appointment
08/04/2024
Name Of Person
Dr. Veerinderjeet Singh A/L Tejwant Singh
Age
67
Country Of Principal Residence
Malaysia
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The appointment of the Dr. Veerinderjeet Singh ("Dr. Veerinderjeet") as an independent director of the Company represents a strategic move aimed at rejuvenating and refreshing the Board, particularly in light of the tenure of the incumbent director since the Company s listing in year 2014 and listing on SGX-ST. The appointment of Dr. Veerinderjeet is essential to ensure the continued dynamism and relevance of the Board in a rapidly evolving business landscape.

Dr. Veerinderjeet brings to the table a wealth of qualifications and extensive experiences that make him well-suited for his roles (kindly refer to the qualifications and working experiences of Dr. Veerinderjeet as disclosed in this announcement). His proven track records, combined with his deep industry knowledge will make valuable contributions to the company's governance and strategic decision-making processes. By integrating these new voices into the Board, the Company not only enhances the Board's collective expertise but also reinforces the commitment to upholding the highest standards of corporate governance and driving sustained long-term value for the stakeholders.

The Board of Directors (the "Board"), having considered the recommendations of the Nominating Committee and performed the assessment of Dr. Veerinderjeet qualifications and experience, is of the view that he has the requisite experience and capability to assume the responsibilities as an Independent Director of ZICO Holdings Inc. (the "Company").
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director
Professional qualifications
Bachelor of Accounting (First Class Hons), University of Malaya
Doctor of Philosophy, University Putra Malaysia
Member, Malaysia Institute of Certified Public Accountants (MICPA)
Member, Malaysian Institute of Accountants
Member, Chartered Tax Institute of Malaysia
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
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
March 2024 to current - Director, MARC Data Sdn. Bhd.

April 2022 to current - Director, ICC Malaysia Berhad

June 2017 to current - Independent Non-Executive Director, AmBank (M) Berhad

April 2017 to current - Malaysian Rating Corporation Berhad

March 2024 to current - Senior Adviser on Tax Policy, KPMG Malaysia

January 2018 to January 2024 - Non-Executive Chairman, Taxand Malaysia Sdn Bhd (now known as Tricor Taxand Sdn Bhd)

January 2012 to December 2017 - Executive Chairman, Taxand Malaysia Sdn Bhd (now known as Tricor Taxand Sdn Bhd)

May 2020 to February 2024 - Non-Executive Chairman, Tricor Services (Malaysia) Sdn Bhd

August 2015 to January 2018 - Executive Chairman, Axelasia Inc. (now known as Axington Inc.)

January 2018 to July 2020 - Non-Executive Chairman, Axelasia Inc. (now known as Axington Inc.)

June 2017 to February 2024 - Senior Independent Non-Executive Director, UMW Holdings Berhad

May 2014 to May 2017 - Independent Director, The Bank of Nova Scotia Berhad

December 2020 to February 2024 - Chairman, MARC Ratings Berhad

Dr. Veerinderjeet is also presently: -
- Executive Committee and Council Member, MICPA
- Executive Committee Member, International Fiscal Association (Malaysia Branch)
- Board of Trustees, International Bureau of Fiscal Documentation, based in Amsterdam
- Vice Chair, Commission on Taxation, International Chamber of Commerce, based in Paris
- Adjunct Professor, Monash University, Malaysia
- Member and Past Chairman, Monash School Industry Board
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)
-
Present
March 2024 to current - Director, MARC Data Sdn. Bhd.

April 2022 to current - Director, ICC Malaysia Berhad

June 2017 to current - Independent Non-Executive Director, AmBank (M) Berhad

April 2017 to current - Malaysian Rating Corporation Berhad

March 2024 to current - Senior Adviser on Tax Policy, KPMG Malaysia
(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
August 2015 to 31 December 2017 - Executive Chairman, Axelasia Inc. (now known as Axington Inc.)
Jan 2018 to 14 July 2020 - Non-Executive Chairman, Axcelasia Inc. (now known as Axington Inc.)
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)
The Nominating Committee of the Company, taking into account Dr. Veerinderjeet's prior experience in Catalist-listed company and his directorship in public listed company, is of the view that Dr. Veerinderjeet Singh does not require to undergo the training as prescribed under Rule 406(3)(a) of the Catalist Rules.