Change - Announcement of Appointment::Appointment of Independent Director

Issuer & Securities

Issuer/ Manager
Y VENTURES GROUP LTD.
Securities
Y VENTURES GROUP LTD. - SG1DH7000008 - 1F1
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
06-May-2019 06:36:09
Status
New
Announcement Sub Title
Appointment of Independent Director
Announcement Reference
SG190506OTHRQNB9
Submitted By (Co./ Ind. Name)
Lew Chern Yong
Designation
Executive Chairman and Director
Description (Please provide a detailed description of the event in the box below)
Appointment of Goh Cher Shua as Independent Director of the Company.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assume no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Leong Weng Tuck, Registered Professional, RHT Capital Pte. Ltd. at 9 Raffles Place, #29-01 Republic Plaza Tower 1, Singapore 048619, Telephone: (65) 6381 6757

Additional Details

Date Of Appointment
07/05/2019
Name Of Person
Goh Cher Shua
Age
63
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
After reviewing the recommendation of the Nominating Committee, the Board approved Mr Goh's appointment as Independent Director of the Company.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive.

Mr Goh is considered independent for the purposes of Rule 704(7) of Listing Manual Section B: Rule of Catalist of the Singapore Exchange Securities Trading Limited.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director
Professional qualifications
Fellow of the Institute of Singapore Chartered Accountants (ISCA)
Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer 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
October 2017 to January 2018: Hong Leong Asia Ltd., Chief Restructuring Officer of the following entities:
1. Henan Xinfei Electric Co., Ltd.
2. Henan Xinfei Household Appliance Co., Ltd.
3. Henan Xinfei Refrigeration Appliances Co., Ltd.

July 2013 to May 2016: Hong Leong Asia Ltd., Chief Financial Officer

January 2011 to July 2013: UTAC Dongguan Ltd., Financial Controller

November 2009 to December 2010: CS Business Consultancy Pte. Ltd., Principle Consultant

March 2009 to October 2009: Amara Holdings Ltd., Senior Manager - Corporate Finance

June 2005 to February 2009: China Printing & Dyeing Holding Limited, Chief Financial Officer
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)
1. Henan Xinfei Electric Co., Ltd.
2. Henan Xinfei Household Appliance Co., Ltd.
3. Henan Xinfei Refrigeration Appliances Co., Ltd.
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?
Yes
If Yes, Please provide full details
From 2005 to 2009, Mr Goh was the Chief Financial Officer of China Printing & Dyeing Holding Limited ("China Printing"), where he was responsible for overseeing the finance function and strengthening of internal controls of China Printing. Thereafter on 13 April 2010, the Singapore Exchange Securities Trading Limited ("SGX") issued a notice determining that China Printing had breached Listing Rule 703(1) relating to announcement of material price-sensitive information. In his capacity as Chief Financial Officer of China Printing, Mr Goh had assisted in the investigations by SGX relating to such breaches. To the best of Mr Goh's knowledge, there was no investigation or action brought against him relating to these regulatory breaches. China Printing has since been delisted from SGX and wound up. From 2013 to 2016, he was subsequently appointed as the Chief Financial Officer of Hong Leong Asia Ltd, a company listed on the SGX.
(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
Yes
If Yes, Please provide full details
Please refer to the full details given in question (b).
(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?
Yes
If Yes, Please provide full details
Please refer to the full details given in question (b).
(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
Mr Goh has undertaken that he will attend the Listed Entity Directors Programme to familiarise himself with the roles and responsibilities of a director of a listed company in Singapore.