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

Issuer & Securities

Issuer/ Manager
HEATEC JIETONG HOLDINGS LTD.
Securities
HEATEC JIETONG HOLDINGS LTD. - SG1Y31945526 - 5OR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Jan-2022 18:09:21
Status
New
Announcement Sub Title
Appointment of Independent Non-Executive Director
Announcement Reference
SG220128OTHR2U0U
Submitted By (Co./ Ind. Name)
Soon Jeffrey
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by 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. Pong Chen Yih, Chief Operating Officer, 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Date Of Appointment
01/02/2022
Name Of Person
Chua Siong Kiat
Age
50
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board of Directors, having considered the recommendation of the Nominating Committee and the qualifications, educational background and working experience of Mr. Chua Siong Kiat ("Mr Chua"), considers Mr Chua to be independent for the purposes of Catalist Rule 704(7) and is of the view that Mr. Chua is suitable and competent to be appointed and to act as an Independent Non-Executive Director and Chairman of the Audit and Risks Management Committee of the Company.

Mr. Chua will be replacing Ms Lie Ly @ Liely Lee as Chairman of the Audit and Risks Management Committee of the Company with effect from 1 February 2022.
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 Non-Executive Director and Chairman of the Audit and Risks Management Committee
Professional qualifications
Chartered Valuer and Appraiser (CVA)
Imperial College of Science, Technology and Medicine, University of London, Master of Business Administration and Diploma of the Imperial College in Management (MBA, DIC)
Chartered Accountant, Singapore (CA Singapore)
Certified Internal Auditor (CIA)
The Association of Chartered Certified Accountants, Graduate and Associate Member (ACCA); Fellow Member (FCCA) since 2002
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
October 2021 to present:
Group Chief Financial Officer of TEE International Limited

November 2015 to present:
Director of Lighthouse Business Consulting Pte Ltd

August 2020 to September 2021:
Chief Financial Officer of Wai Fong Construction Pte Ltd

July 2017 to January 2018:
Appointed Chief Financial Officer (Global Hospitality Trust Project) of Amare Investment Management Group Pte Ltd

March 2016 to July 2017:
Executive Director and Head of Non-Property business (February 2017 to July 2017), Alternate Director (March 2016 to February 2017) and Interim Group Chief Operating Officer (July 2016 to February 2017) of Pacific Star Development Limited (formerly known as LH Group Limited)

July 2013 to September 2015:
Executive Director (Appointed in November 2013) and Chief Financial Officer of Libra Group Limited

February 2011 to May 2013:
Director, Finance & Control Asia, ex-China Region and Interim Co-Managing Director (November 2011 to May 2012) of Imtech Marine BV
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
Mr Chua has a direct interest in 1,600 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)
2020 to 2020: Axington Inc.
2019 to 2020: Kitchen Culture Holdings Limited
2019 to 2020: China Star Food Group Limited
2015 to 2020: National Arthritis Foundation
2018 to 2019: Omni Sharing Pte Ltd
2016 to 2017: Pacific Star Development Limited
2017 to 2017: Durabeau Industries Pte Ltd
2017 to 2017: LH Aluminium Industries Pte Ltd
2017 to 2017: Autotrax International Pte Ltd
2017 to 2017: Autovox Korea Co., Ltd
Present
20 December 2021 to present: TEE Infrastructure Pte Ltd
16 December 2021 to present: Trans Equatorial Engineering Pte Ltd (in creditors voluntary liquidation)
2020 to present: New Silkroutes Group Limited
2015 to present: Lighthouse Business Consulting Pte Ltd
2017 to present: Starwork Vision Pte Ltd
2018 to present: Robotic Vision Inc. 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?
Yes
If Yes, Please provide full details
Mr. Chua served as a director in (i) Durabeau Industries Pte Ltd ("DIPL") and (ii) LH Aluminium Industries Pte. Ltd. ("LHAI") from 15 February 2017 to 13 July 2017. In May 2019, Pacific Star Development Limited ("PSD"), the parent company of both DIPL and LHAI, announced its decision to discontinue its aluminium business division for commercial reasons and placed both DIPL and LHAI under creditors' voluntary liquidation ("CVL"). Further details in relation to the liquidation can be found in PSD's SGXNet announcements dated 22 May 2019 and 31 May 2019.

Mr. Chua joined TEE International Limited ("TEE") as the Group Chief Financial Officer on 1 October 2021. As announced on 16 December 2021, TEE had commenced the winding up process of its wholly-owned subsidiary, Trans Equatorial Engineering Pte. Ltd. ("Trans Equatorial") by way of CVL. As requested by the Board of Directors of TEE, Mr. Chua was appointed as a director of Trans Equatorial just prior to the commencement of the CVL proceedings in order to facilitate and assist the appointed liquidators with the CVL process.
(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
2020 to present: Non-Executive Independent Director of New Silkroutes Group Limited

2020 to 2020: Non-Executive Independent Director of Axington Inc.

2019 to 2020: Non-Executive Independent Director of Kitchen Culture Holdings Limited

2019 to 2020: Non-Executive Independent Director of China Star Food Group Limited

March 2016 to July 2017:
Executive Director (February 2017 to July 2017), Alternate Director (March 2016 to February 2017) of Pacific Star Development Limited (formerly known as LH Group Limited)

July 2013 to September 2015:
Executive Director (Appointed in November 2013) and Chief Financial Officer of Libra Group Limited


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)
Mr. Chua has had experience as a director of SGX-listed issuers, and accordingly, the Nominating Committee will not require Mr. Chua to attend the relevant seminar(s) and/or course(s) conducted by the Singapore Institute of Directors on the roles and responsibilities of a director of a SGX-listed company.

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