Change - Announcement of Appointment::APPOINTMENT OF LEAD INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
SHC CAPITAL ASIA LIMITED
Securities
SHC CAPITAL ASIA LIMITED - SG2E89982663 - 5UE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Aug-2014 19:09:09
Status
New
Announcement Sub Title
APPOINTMENT OF LEAD INDEPENDENT DIRECTOR
Announcement Reference
SG140801OTHRQCIP
Submitted By (Co./ Ind. Name)
Chan Lai Yin
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 Tan Cher Ting, Director, Corporate Finance, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: +65 6337 5115.

Additional Details

Date Of Appointment
01/08/2014
Name Of Person
NG FOOK AI, VICTOR
Age
66
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Following the completion of the Company's disposal of its entire shareholding interest in SHC Insurance Pte. Ltd. on 1 August 2014, the Board of Directors has been re-constituted and Mr Ng Fook Ai, Victor has been appointed as an independent non-executive director of the Company.

Mr Ng Fook Ai, Victor is presently also an independent non-executive director of SHC Investments Ltd. The Board of Directors has considered the qualification and past and present working experience of Mr Ng Fook Ai, Victor and is of the view that the Company will benefit from Mr Ng Fook Ai, Victor's standing in the community and his vast network of contacts.
Whether appointment is executive, and if so, the area of responsibility
No.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of the Audit Committee and the Remuneration Committee and a member of the Nominating Committee.
Familial relationship with any director 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
Please refer to Annexure A.
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)
Please refer to Annexure B.
Present
Please refer to Annexure B.
(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 a listed company?
Yes
If Yes, Please provide full details
Mr Ng Fook Ai, Victor is currently an independent non-executive director of Sunshine 100 China Holdings Ltd, a company listed on the Main Board of the Stock Exchange of Hong Kong Limited, and MY E.G. Services Berhad, a company listed on the Main Board of Bursa Malaysia Securities Berhad.

Mr Ng was also previously the non-executive chairman of Devotion Energy Group Limited and an independent non-executive director of Asia Power Corporation Limited, companies listed on the Main Board of the SGX-ST.

Attachments

MrVictorNg_AnnexureA.pdf
MrVictorNg_AnnexureB.pdf
Total size =53K