Change - Announcement of Appointment::Appointment of Executive Chairman of Millennium & Copthorne Hotels Limited

Issuer & Securities

Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
20-Nov-2019 17:53:34
Status
New
Announcement Sub Title
Appointment of Executive Chairman of Millennium & Copthorne Hotels Limited
Announcement Reference
SG191120OTHRIB6X
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The details of the announcement start here.

Additional Details

Date Of Appointment
18/11/2019
Name Of Person
Kwek Leng Beng
Age
78
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
This announcement is made pursuant to Rule 704(9) of the Listing Manual. Mr Kwek Leng Beng, the Executive Chairman of City Developments Limited ("CDL"), has been appointed the Executive Chairman of Millennium & Copthorne Hotels Limited ("M&C") (formerly known as Millennium & Copthorne Hotels plc), a principal subsidiary of CDL, following the privatisation of M&C. Mr Kwek had previously held the role of non-executive chairman of M&C when M&C was listed on the London Stock Exchange.
Whether appointment is executive, and if so, the area of responsibility
Yes. In addition to his current role as Executive Chairman of CDL, Mr Kwek Leng Beng as Executive Chairman of M&C has the executive responsibility to lead and drive M&C's performance, with the assistance of the management team of M&C, and through better synergies from integration with CDL following the privatisation of M&C.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman of M&C.
Professional qualifications
Mr Kwek Leng Beng holds a law degree, LL.B. (London) and is a fellow of The Institute of Chartered Secretaries and Administrators.
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
Mr Kwek Leng Beng is the father of Mr Sherman Kwek (Group Chief Executive Officer of CDL) and a cousin of Mr Kwek Leng Peck (Non-Executive Director of CDL).
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
Mr Kwek Leng Beng has extensive experience in the finance business, real estate business, hotels as well as trading and manufacturing. His working experience is set out below:

City Developments Limited ("CDL")
Executive Chairman (1 January 1995 - Present)
- Provides strong leadership and vision, leading the Board in its review of the CDL Group's strategies for sustainable growth.
- Bears overall executive responsibility for the CDL Group's business.
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Shareholding interest in the Company:
Ordinary Shares - 397,226 shares
Preference Shares - 144,445 shares

Shareholding interest in subsidiary of the Company:
Millennium & Copthorne Hotels New Zealand Limited
Ordinary Shares - 906,000 shares
Redeemable Non-voting Preference Shares - 453,000
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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)
N.A.
Present
N.A.
(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 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
Not applicable for this appointment.