Change - Announcement of Appointment::Appointment of Indpendent Non-Executive Director

Issuer & Securities

Issuer/ Manager
METAL COMPONENT ENGINEERING LIMITED
Securities
METAL COMPONENT ENGG LTD - SG1O81915033 - 5DX

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
30-Apr-2014 23:06:47
Status
New
Announcement Sub Title
Appointment of Indpendent Non-Executive Director
Announcement Reference
SG140430OTHROEPY
Submitted By (Co./ Ind. Name)
Seah Jim Hong, Gerard
Designation
Company Secretary
Effective Date and Time of the event
30/04/2014 23:59:00
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company s sponsor ( Sponsor ), Canaccord Genuity Singapore Pte. Ltd. for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ( SGX-ST ). Canaccord Genuity Singapore Pte. Ltd. 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 assumes 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 Ms Karen Soh, Managing Director, Corporate Finance, Canaccord Genuity Singapore Pte. Ltd., at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160.

Additional Details

Date Of Appointment
01/05/2014
Name Of Person
Lim Swee Kwang
Age
52
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
In view of Mr Wong Chee Wai's decision to step down from the Board as part of the Board's renewal process, the Nominating Committee has identified Mr Lim Swee Kwang as a suitable candidate to be appointed as an independent non-executive director of the Company. The Nominating Committee has discussed and deliberated on the proposed appointment of Mr Lim Swee Kwang as an independent and non-executive director. Based on their prior interactions and meetings with him, and after reviewing his curriculum vitae and considering his qualifications, experience, track record, age, capabilities and all relevant factors including the information contained in his declaration of independence (based on the guidelines contained in the Code of Corporate Governance), the Nominating Committee has recommended his appointment to the Board. The Board has discussed and deliberated on Mr Lim Swee Kwang's appointment and has considered his qualifications and experience. Accordingly, the Board has accepted the Nominating Committee's recommendation and approved Mr Lim Swee Kwang's appointment as an Independent Non-Executive Director of the Company.

Whether appointment is executive, and if so, the area of responsibility
The appointment is non-executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, Chairman of the Remuneration Committee and member of the Audit Committee and Nominating Committee.
Familial relationship with any director 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
2012 - present: Partner and investment committee member of Accion Asia Growth Fund, a private equity fund managed by Accion Capital Management Pte. Ltd., a registered fund management company under the Monetary Authority of Singapore.

2007 - 2012 : Senior Vice President & Group General Manager, Retail Store Solutions and Industrial Products Business, Venture Corporation Limited, and Chief Executive Officer of the GES group of companies.

2006-2007 : Vice President & General Manager, Product Technology Business, Venture Corporation Limited.

2002 - 2005 : Vice President & General Manager, Venture Electronics Solutions, Venture Corporation Limited.

Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Lim Swee Kwang is deemed to be interested in 66,666 ordinary shares in the Company held in the name of his spouse, Mdm Chan Wai Wong.
# 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)
Venture Electronics Pte Ltd, GES (Singapore) Pte Ltd, GES Investment Pte Ltd, GES International Ltd, SME Investment Pte Ltd, GES Manufacturing Services (M) Sdn Bhd (Singapore Branch) and Scinetic Engineering Pte 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?
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 a listed company?
No
If Yes, Please provide full details
The Company will be arranging for Mr Lim Swee Kwang to attend the relevant training conducted by the Singapore Institute of Directors.