Change - Announcement of Appointment::APPOINTMENT OF INDEPENDENT DIRECTOR
Issuer & Securities
Issuer/ Manager
ZHONGMIN BAIHUI RETAIL GROUP LTD.
Securities
ZHONGMIN BAIHUI RETAIL GRP LTD - SG2C76966531 - 5SR
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-Dec-2019 15:31:33
Status
New
Announcement Sub Title
APPOINTMENT OF INDEPENDENT DIRECTOR
Announcement Reference
SG191231OTHR1NZU
Submitted By (Co./ Ind. Name)
LEE SWEE KENG
Designation
EXECUTIVE CHAIRMAN
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Director
Additional Details
Date Of Appointment
31/12/2019
Name Of Person
Choy Bing Choong
Age
53
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 (the "NC") formally assessed the appointment of Mr Choy Bing Choong as an independent director of the Company. On the recommendation of the NC and having considered the strength of his calibre and experience, the Board of Directors, with the recommendation of the NC, is of the view that the Company will be able to leverage on Mr Choy's qualifications, financial and investment expertise, and that the appointment of Mr Choy as an Independent Director will be beneficial to the Board and to 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.)
Lead Independent Director, Chairman of Audit Committee and a Member of Nominating Committee and Remuneration Committee
Professional qualifications
Member of the Institute of Singapore Chartered Accountants
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
July 2014 to Present: Chief Investment Officer at Natural Cool Holdings Limited
August 2007 to June 2014: Director (Corporate Finance) at CIMB Bank Berhad, Singapore Branch
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)
HMK Energy Pte Ltd
P.T. Harpindo Mitra Kharisma
Natural Cool Holdings Limited
Present
HMK Energy Ltd
Hiap Tong Corporation Ltd
Hoe Leong Corporation 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?
Yes
If Yes, Please provide full details
Mr Choy was appointed a Non-Executive, Independent Director of Hoe Leong Corporation Ltd ("Hoe Leong") on 1 September 2019. On 2 October 2019, Hoe Leong received an Originating Summons without a supporting affidavit filed by United Overseas Bank ("UOB") to place the Company under judicial management pursuant to Section 227B of the Companies Act (Cap. 50, 2006 Rev Ed) ("JM Application"). On 7 November 2019, leave was granted by the High Court for UOB to wholly discontinue and/or withdraw the JM Application and UOB has accordingly filed the Notice of Discontinuance / Withdrawal accordingly to wholly discontinue / withdraw the JM Application.
(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?
Yes
If Yes, Please provide details of prior experience
September 2019 to Present: Lead Independent Director and Chairman of Audit Committee of Hoe Leong Corporation Ltd
October 2017 to Present: Non-executive Independent Director and Chairman of Audit Committee of Hiap Tong Corporation Ltd
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