Change - Announcement of Appointment::Appointment of Non-Independent Executive Director and Group Managing Director - Mr Ong Eng Yaw

Issuer & Securities

Issuer/ Manager
HWA HONG CORPORATION LIMITED
Securities
HWA HONG CORPORATION LIMITED - SG1H85877246 - H19
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Aug-2022 21:09:58
Status
New
Announcement Sub Title
Appointment of Non-Independent Executive Director and Group Managing Director - Mr Ong Eng Yaw
Announcement Reference
SG220801OTHRK216
Submitted By (Co./ Ind. Name)
Gwendolin Lee Soo Fern
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Independent Executive Director and Group Managing Director - Mr Ong Eng Yaw

Additional Details

Date Of Appointment
01/08/2022
Name Of Person
Ong Eng Yaw
Age
50
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
In line with paragraph 9(c) of the Notice of Compliance dated 6 May 2022 issued by the Singapore Exchange Regulation (SGX RegCo), all new Board appointments are subject to the review of the Independent Reviewer. As the Company is required by its Constitution to have a minimum of 3 directors, the Company has proposed the appointment of Mr Ong Choo Eng and Mr Ong Eng Yaw to meet the minimum requirement of 3 directors. Given the current circumstances, SGX RegCo had given its permission for the Company to announce the appointment of Mr Ong Choo Eng and Mr Ong Eng Yaw after the Independent Reviewer has reviewed the proposed appointments, without the Independent Reviewer's recommendations on the suitability of these directors being released at the same time.

The Independent Reviewer had been consulted on, and has reviewed, the appointment of Mr Ong Eng Yaw (whom had been submitted to the Independent Reviewer for review and assessment beforehand) and the Independent Reviewer's recommendations on the suitability and basis for appointment of Mr Ong Eng Yaw will be announced by the Company in due course.
Whether appointment is executive, and if so, the area of responsibility
As the Group Managing Director, Mr Ong Eng Yaw will be responsible for the overall operations of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent Executive Director and Group Managing Director
Professional qualifications
- Bachelor of Laws (second upper class division), University College London.
- MSc (Investment Management), Cass Business School.
- MBA, INSEAD.
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
Shareholder and Director of Sanjuro United Pte. Ltd.
Conflict of interests (including any competing business)
NIL
Working experience and occupation(s) during the past 10 years
Mr Ong Eng Yaw joined the Company as Manager for Investments on 1 August 2008. In March 2020, Mr Ong was appointed as Chief Operating Officer. In April 2021, Mr Ong was appointed as the Acting Group Managing Director of the Company.
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
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)
Hwa Hong Corporation Limited
Present
LISTED COMPANIES:
- MTQ Corporation Limited

OTHERS:
- Singapore Reinsurance Corporation Limited
- Ely Investments (Pte) Ltd.
- Cai Sheng Investments Limited
- 253 JB Pte. Ltd.
- Global Trade Investment Management Pte Ltd
- Singapore Warehouse Company (Private) Ltd.
- Scotts Spazio Pte. Ltd.
- Langland Developments (Fitzalan) Ltd
- Clan Kilmur (Jersey) Limited
- Capital Eagle Limited
- Capital Loman Ltd
- Loman Holdings Ltd
- Shorea Capital Pte. Ltd.
- Shorea Capital (Delaware), Inc
- Garett Property Holdings Ltd
- Capital Garett Ltd
- Jaguar Listed Property LLC
- LEYO Capital Pte Ltd
- Sam Peak Pte. Ltd.
- Shorea Capital London Office Fund GP Pte. Ltd.
- Sam Peak II Pte. Ltd.
- Sam Peak III Pte. Ltd.
- Sam Peak IV Pte. Ltd.
- Paco Industries Pte. Ltd.
- Hwa Hong Edible Oil Industries Pte. Ltd.
- Sanjuro United Pte. 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?
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?
Yes
If Yes, Please provide details of prior experience
Existing Independent and Non-Executive Director of Singapore Reinsurance Corporation Limited and MTQ Corporation Limited.