Change - Announcement of Appointment::Appointment of Independent Director who is an Audit and Risk Committee Member

Issuer & Securities

Issuer/ Manager
DYNAMIC COLOURS LIMITED
Securities
DYNAMIC COLOURS LIMITED - SG1W32938860 - D6U
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
30-Jun-2017 19:49:39
Status
New
Announcement Sub Title
Appointment of Independent Director who is an Audit and Risk Committee Member
Announcement Reference
SG170630OTHR3ZEF
Submitted By (Co./ Ind. Name)
Yeoh Hock Leng
Designation
Executive Chairman and Group Managing Director
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Director who is an Audit and Risk Committee Member

Additional Details

Date Of Appointment
01/07/2017
Name Of Person
Law Cheong Yan
Age
45
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee and Board have reviewed Mr Law's qualifications and financial and industrial work experience. The Nominating Committee has also reviewed and deliberated on the current Board size and its composition, including the mix of skill sets and competencies. The Nominating Committee has deliberated at some length on the fact that Mr Law was employed as Chief Financial Officer by Dynamic Colours Limited from 2005 to 2009. Notwithstanding that Mr Law's past employment was more than three financial years ago, the Nominating Committee has devoted the larger part of their interview of Mr Law to his ability to maintain independence of the two Executive Directors and Founders of the Company. After the interview, the Nominating Committee had further deliberations and discussions with the Executive Directors and concluded it had no reason to doubt the assurances given by Mr Law to uphold the standards of independence expected of an Independent Director and to support the maintenance of the Company's high standards of Corporate Governance and Disclosure.
Whether appointment is executive, and if so, the area of responsibility
No
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Conflict of interests (including any competing business)
NIL
Working experience and occupation(s) during the past 10 years
2013 - Present
Chief Financial Officer of Chip Eng Seng Corporation Ltd

2009-2013
Vice President of A-Sonic Logistics (USA), Inc.

2005-2009
Chief Financial Officer of Dynamic Colours Limited
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
Other Directorships
# 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)
A-Sonic Logistics Pte Ltd
Present
CES Capital Holdings Pte Ltd
CEL Australia Pty 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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Where necessary, the Company will arrange for Mr Law Cheong Yan to attend courses for him to familiarize with the roles and responsibilities of a director of a listed company in Singapore