Change - Announcement of Appointment::Appointment of Acting Chief Financial Officer ("Acting CFO")

Issuer & Securities

Issuer/ Manager
EC WORLD ASSET MANAGEMENT PTE LTD
Securities
EC WORLD REIT - SG1DA7000003 - BWCU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
10-Jan-2020 17:27:47
Status
New
Announcement Sub Title
Appointment of Acting Chief Financial Officer ("Acting CFO")
Announcement Reference
SG200110OTHRZKVL
Submitted By (Co./ Ind. Name)
Goh Toh Sim
Designation
Executive Director and CEO
Description (Please provide a detailed description of the event in the box below)
Appointment of Acting CFO.

Consequent to the cessation of Mr. Johnnie Tng Chin Hwee as the Chief Financial Officer, Mr. Wang Feng has been appointed as the Deputy Chief Financial Officer of the Company and he will be serving as the Acting CFO of the Company with effect from 10 January 2020. Mr Wang will assume the responsibility of overall finance, accounting, tax, treasury, risk management functions for EC World REIT as well as overseeing compliance matters and the implementation of EC World REIT's short and medium-term business plans, and REIT management activities.

Additional Details

Date Of Appointment
10/01/2020
Name Of Person
Wang Feng
Age
45
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr. Wang's qualification and experience (as set out below) makes him a suitable candidate to assume the responsibility of the overall finance, accounting, tax, treasury, risk management functions for EC World REIT as well as overseeing compliance matters and the implementation of EC World REIT's short and medium-term business plans, and REIT management activities.
Whether appointment is executive, and if so, the area of responsibility
Yes. Responsible for all finance, accounting, tax, treasury, risk management functions for EC World REIT as well as overseeing compliance matters and the implementation of EC World REIT's short and medium-term business plans, and REIT management activities.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Acting Chief Financial Officer
Professional qualifications
Mr Wang currently holds a FCCA (Fellow member of Association of Chartered Certified Accountants), a Chartered Accountant (CA) with the Institute of Singapore Chartered Accountants and a Certified Internal Auditor (CIA) accredited by the Institute of Internal Auditors.
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
Mr Wang joined the EC World Asset Management Pte. Ltd. (the "Manager" of EC World REIT) on 1 November 2016 and is currently the Deputy Chief Financial Officer. Prior to this, Mr. Wang was heading the compliance and risk management functions of the Manager and was responsible for internal audit, risk management and compliance with requirements under the Securities and Futures Act and the Code on Collective Investment Schemes for ECW and the Manager, and advising the Manager on its risk management and compliance processes.

Prior to joining the Manager, Mr Wang was an Audit Manager with KPMG Singapore. He spent over 5 years at KPMG providing audit and review services. In addition, Mr Wang had more than 12 years' experience as a project manager in real estate development industry before joining KPMG.
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
Holds 20,490 units in EC World REIT
# 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
Nil
(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?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
NA