Change - Announcement of Appointment::Appointment of Non-Executive Non-Independent Director

Issuer & Securities

Issuer/ Manager
KORI HOLDINGS LIMITED
Securities
KORI HOLDINGS LIMITED - SG2F40988253 - 5VC
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
29-Dec-2022 17:43:32
Status
New
Announcement Sub Title
Appointment of Non-Executive Non-Independent Director
Announcement Reference
SG221229OTHRV3ZC
Submitted By (Co./ Ind. Name)
Hooi Yu Koh
Designation
Executive Chairman and CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Date Of Appointment
30/12/2022
Name Of Person
Xu Quanqiang
Age
44
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Pursuant to convertible bond subscription agreement entered on 14 August 2022 between Kori Holdings Limited (the "Company") and LJHB Capital (S) Pte. Ltd., ("LJHB"), LJHB has requested for a board seat in the Company.

Mr Xu Quanqiang ("Mr Xu") is a director of LJHB.

The Board of Directors of the Company, having reviewed and considered Mr Xu's professional qualifications and working experience, concurred with the recommendation of the Nominating Committee and approved the appointment Mr Xu as a Non-Executive Non-Independent Director of 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.)
Non-Executive Non-Independent Director
Professional qualifications
Master of Business Administration from the University of South 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
Mr Xu is a director of LJHB, who is the controlling shareholder of Keong Hong Holdings Limited ("KHHL"), and KHHL is a controlling shareholder of the Company.
Conflict of interests (including any competing business)
NIL
Working experience and occupation(s) during the past 10 years
June 2017 to present
- Chief Executive Officer ("CEO") of:
- LJHB Holdings (S) Pte Ltd
- LJHB USA Inc.
- Forevertrust International (S) Pte Ltd.

January to May 2017
CEO of Ronghua Group Pte Ltd

June to December 2016
Regional General Manager of GIC Group Pte Ltd

October 2013 to May 2016
Country General Manager of BSI Group Singapore Pte Ltd

July 2012 to October 2013
Sales and Marketing Director of BSI Group Singapore Pte Ltd

March 2006 to July 2012
Assistant Vice President, Sales of TUV SUD PSB 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?
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)
1. Aitec International Pte Ltd
2. Advtech (Singapore) Pte Ltd
Present
Directorships:
1. Innotrust Pte Ltd
2. Wisestone Pte Ltd
3. PT Forevertrust International Indonesia
4. Grandwood Holdings Pte Ltd
5. Grandwood (Japan) Pte Ltd
6. LJHB Capital (S) Pte Ltd
7. Forevertrust International (S) Pte Ltd
8. Keong Hong Holdings Limited

Other Principal Commitments:
1. LJHB Holdings (S) Pte Ltd - CEO
2. LJHB USA Inc - CEO
3. Forevertrust International (S) Pte Ltd - CEO
4. Continental Hope Singapore Industrial Development Pte Ltd - CEO
(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
Director of Keong Hong Holdings Limited since March 2021.
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)
NA