Change - Announcement of Cessation::Redesignation of Executive Chairman and CEO to Executive Chairman - Yap Meng Sing

Issuer & Securities

Issuer/ Manager
SEN YUE HOLDINGS LIMITED
Securities
SEN YUE HOLDINGS LIMITED - SG1M25902545 - 5BS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Apr-2024 19:52:17
Status
New
Announcement Sub Title
Redesignation of Executive Chairman and CEO to Executive Chairman - Yap Meng Sing
Announcement Reference
SG240426OTHRCR32
Submitted By (Co./ Ind. Name)
Sharon Lim
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Redesignation of Executive Chairman and Chief Executive Officer ("CEO") to Executive Chairman.

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Tay Sim Yee (Telephone no.: (65) 6232 3210), 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Yap Meng Sing
Age
77
Is effective date of cessation known?
Yes
If yes, please provide the date
01/05/2024
Detailed Reason (s) for cessation
As part of the succession planning and due to personal health issue, Mr. Yap has notified his intention to step down as the CEO but remains as the Executive Chairman of the Company.

The Sponsor, after having interviewed Mr. Yap and to its best knowledge, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr. Yap as the CEO of the Company.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
05/08/2022
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and CEO
Role and responsibilities
Mr. Yap plays a key role in promoting high standards of corporate governance, encourage constructive relations within the Board and between the Board and Management, and ensuring that the Board reviews and approves the Group's key strategies and policies.

As CEO of the Company, he is responsible for formulating and executing the Group's strategies and report to the Board on the performance of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr. Yap is the director and shareholder of Electroloy Metal Pte. Ltd., the controlling shareholder of the Company. Father of Ms. Shann Yap Shiau Wei, General Manager cum personal assistant to Executive Chairman, who is also a director of principal subsidiaries of the Group.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr. Yap holds 5,950,000 shares in the Company. Mr. Yap is also deemed to have an interest in the 1,750,000,000 shares held by Electroloy Metal Pte. Ltd. by virtue of Section 7 of the Singapore Companies Act 1967 and the Section 4 of the Securities and Futures Act 2001.
Past (for the last 5 years)
- SMC Industrial (UK) Limited (Struck-off)
- SMCI Refinery Pte. Ltd. (Struck-off)
Present
- SMC Industrial Pte. Ltd.
- SYH E-Waste Pte. Ltd.
- PNE Sino Pte. Ltd.
- SMC Industrial (HK) Limited
- SYH Resources Pte. Ltd.
- PNE Micron Engineering Sdn. Bhd.
- PNE Marvellous Sdn. Bhd.
- CED System Sdn. Bhd.
- Hong Nam Industry Sdn. Bhd.
- PNE Micron (Kuala Lumpur) Sdn. Bhd.
- PNE Precision Sdn. Bhd.
- Macore Technology Sdn. Bhd.
- Electroloy Metal Pte. Ltd.
- Electroloy Technologies Pte. Ltd.
- Electroloy Corporation Sdn. Bhd.
- Electroloy (India) Pvt Ltd.
- Electroloy Metal (Suzhou) Co. Ltd.
- Electroloy Metal (Shenzhen) Co. Ltd.
- Electroloy Technologies (Huizhou) Co. Ltd.
- Electroloy (HK) Co. Ltd.