Change - Announcement of Appointment::Appointment of Independent Director

Issuer & Securities

Issuer/ Manager
USP GROUP LIMITED
Securities
USP GROUP LIMITED - SG1CH0000007 - BRS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
10-Oct-2019 18:47:34
Status
New
Announcement Sub Title
Appointment of Independent Director
Announcement Reference
SG191010OTHR3FDJ
Submitted By (Co./ Ind. Name)
Nah Ee Ling
Designation
CFO
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Chan Siew Wei as Independent Director.

Additional Details

Date Of Appointment
10/10/2019
Name Of Person
Chan Siew Wei
Age
58
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board has reviewed and considered Mr Chan Siew Wei, possess the requisite qualification and experience to arry out his duties as the 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.)
Independent Director
Professional qualifications
Bachelor of Accountancy from 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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
Finance Director and Accountant
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)
Vashion Group Ltd. (listed on Catalist of the SGX-ST)
Present
China Mining International Limited (listed on Mainboard of the SGX-ST)
Toplink Pacific Pte. Ltd.
World Future Foundation Ltd.
Diona Singapore Pte. Ltd.
Xtent Technologies Private Limited
Final Mile Logistics Pte. Ltd.
Suvidha Retail Services Pte. Ltd.
Beatroute Technologies Pte. Ltd.
Livingdrops Private Limited
Epicenter Technologies Pte. Ltd.
Jvee Textiles Pte. Ltd.
HYT Food Industries (sole proprietor)
(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?
Yes
If Yes, Please provide full details
Mr Chan was temporarily suspended as a public accountant for a period of 6 months from 2 August 2007 to 1 February 2008 by ACRA for failing the practice review conducted by ACRA under the Practice Monitoring Programme. The Practice Montitoring Programme is a periodic review ACRA conducts on public accountants to ensure and promote audit quality of public accountants in Singapore.
During the period of suspension, he was unable to practice as, or hold himself out to be, a public accountant, or give the impression that he is authorised to provide public accountancy services (including but not limited to refraining from signing off any audit reports). After the suspension period, ACRA conducted another practice review and subsequently, no further issues were raised. He was verbally informed by ACRA that he was not required to take any additional steps to get reaccredited for the year 2008. He renewed his registration as a public accountant and was authorised to practice as a public accountant from 1 January 2009.

Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Vashion Group Ltd. (listed on Catalist of the SGX-ST)
China Mining International Limited (listed on Mainboard of the SGX-ST)