Change - Announcement of Appointment::Appointment of Independent Director

Issuer & Securities

Issuer/ Manager
MEGACHEM LIMITED
Securities
MEGACHEM LIMITED - SG1O60914015 - 5DS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
19-Apr-2024 17:26:24
Status
New
Announcement Sub Title
Appointment of Independent Director
Announcement Reference
SG240419OTHRUVAU
Submitted By (Co./ Ind. Name)
Kwok Hwee Peng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Director - Mr Sim Guan Seng ("Mr Sim")

This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement 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 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 Bernard Lim (Tel : (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Date Of Appointment
20/04/2024
Name Of Person
Sim Guan Seng
Age
64
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)
The Board of Directors, having considered the recommendations of the Nominating Committee, and assessed Mr Sim's qualifications and working experience, has approved the appointment of Mr Sim as an Independent Director of Megachem Limited.

Mr Sim will also be appointed as the Chairman of the Audit Committee and member of the Nominating and Remuneration Committees.

The Board considers Mr Sim to be independent for the purpose of Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Audit Committee, Member of the Nominating and Remuneration Committees.
Professional qualifications
- Bachelor of Accountancy (Honours), National University of Singapore

- Fellow Chartered and Certified Accountant (FCCA), Institute of Singapore Chartered Accountants

- Certified Internal Auditor, The Institute of Internal Auditors
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
2022 to Present:
Managing Director of Cohen Assurance PAC

2004 to 2022:
Partner of Baker Tilly TFW LLP
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)
- Baker Tilly Consultancy (Singapore) Pte. Ltd.
- TFW Management Services Pte Ltd
- Park Crescent Services Pte Ltd
- Cennerv Pharmaceuticals Ltd
- Lightway Corporate Services Pte Ltd
- Singapore Accountancy Commission
- Baker Tilly TFW LLP
- NCC Research Fund
- NCCS Cancer Fund
Present
- Cohen Assurance PAC
- Darco Water Technologies Limited
- Sitra Holdings (International) Limited
- Law Society Pro Bono Services Ltd
- Anglican Preschool Services Ltd
- National Volunteer and Philanthropy Centre
- Honorary Consul of The Republic of Botswana
- Finance Board Chairman/ Member of Standing Committee of Diocese of Singapore
(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?
Yes
If Yes, Please provide full details
Please refer to Appendix A for full details.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Darco Water Technologies Limited
- Lead Independent Director

Sitra Holdings (International) Limited
- Lead Independent Director
Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable)
N/A

Attachments

Appendix A - Sim Guan Seng.pdf
Total size =79K