Change - Announcement of Appointment::Appointment of Mr Ong Eng Loke as Non-Independent Executive Director & Acting Group MD

Issuer & Securities

Issuer/ Manager
HWA HONG CORPORATION LIMITED
Securities
HWA HONG CORPORATION LIMITED - SG1H85877246 - H19
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
05-May-2022 17:43:16
Status
New
Announcement Sub Title
Appointment of Mr Ong Eng Loke as Non-Independent Executive Director & Acting Group MD
Announcement Reference
SG220505OTHR0V8N
Submitted By (Co./ Ind. Name)
Gwendolin Lee Soo Fern
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Ong Eng Loke as (i) Non-Independent Executive Director; and (ii) Acting Group Managing Director.

Additional Details

Date Of Appointment
05/05/2022
Name Of Person
Ong Eng Loke
Age
55
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
As part of the Company's succession planning, Mr Ong Eng Loke was appointed as an Alternate Director to his father, Mr Ong Mui Eng on 23 April 2021. The Board, having considered the performance of Mr Ong Eng Loke as an Alternate Director for the past year, has approved the appointment of Mr Ong Eng Loke as a Non-Independent Executive Director of the Company. In addition, with the recent vacancy created in the position of Acting Group Managing Director, Mr Ong Eng Loke was considered a suitable candidate to fill the vacancy as he has been with the Group since 2004.
Whether appointment is executive, and if so, the area of responsibility
As Acting Group Managing Director, Mr Ong Eng Loke will manage and oversee the overall operations of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
(1) Non-Independent Executive Director
{2} Acting Group Managing Director
Professional qualifications
- BComm and Honors BSc (Distinction) in Finance, Actuarial Science and Statistics from the University of Toronto, Canada
- Master of Arts in Statistics at York University, Canada
- Master of Social Science in Applied Economics at National University of Singapore
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
- Son of Mr Ong Mui Eng, who is a Non-Independent Executive Director
- Nephew of Mr Ong Choo Eng, Managing Director of Singapore Warehouse Company (Private) Ltd ("SWC") and substantial shareholder
- Nephew of Mr Ong Kwee Eng, Mr Ong Kay Eng and Mr Ong Hoo Eng, who are substantial shareholders
- Cousin of Mr Ong Eng Yaw, Director of SWC and substantial shareholder
- Cousin of Dr David Ong Eng Hui, who is a Non-Executive Director and substantial shareholder
- Cousin of Mr Ong Eng Keong, who is a Non-Executive Director
- Cousin of Ms Ong Bee Leem, who is a substantial shareholder
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
Mr Ong Eng Loke joined the Company in August 2004 as manager for business development. Prior to the appointment, he was a fund manager in Tokio Marine Asset Management International Pte Ltd, UOB Asset Management and OUB Asset Management. His responsibility within the Group prior to his appointment as Acting Group Managing Director was to be responsible for the investment opportunities in Asia, in particular, in the region of China, Hong Kong and Korea.
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
- Direct: 36,090,858 shares in the Company
- Deemed: 884,000 shares in 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)
Nil
Present
- 253 JB Pte. Ltd.
- Hwa Hong Edible Oil Industries Pte. Ltd.
- Ong Chay Tong & Sons (Private) Limited
- OME Investment Holding 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?
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
As an Alternate Director to Mr Ong Mui Eng
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)
As an Alternate Director to Mr Ong Mui Eng since 23 April 2021 in the Company. Mr Ong Eng Loke had also in July 2021 completed his LED (Listed Entity Director) programme organised by the Singapore Institute of Directors.