Change - Announcement of Appointment::PROMOTION OF FINANCIAL CONTROLLER TO CHIEF FINANCIAL OFFICER

Issuer & Securities

Issuer/ Manager
ADDVALUE TECHNOLOGIES LTD
Securities
ADDVALUE TECHNOLOGIES LTD - SG1I67883666 - A31
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
30-Nov-2023 17:49:12
Status
New
Announcement Sub Title
PROMOTION OF FINANCIAL CONTROLLER TO CHIEF FINANCIAL OFFICER
Announcement Reference
SG231130OTHRQM7C
Submitted By (Co./ Ind. Name)
TAN KHAI PANG
Designation
CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below)
Promotion of Financial Controller to Chief Financial Officer

Additional Details

Date Of Appointment
01/12/2023
Name Of Person
Wong Tat Yang
Age
65
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 Nominating and Remuneration Committee ("NRC"), having reviewed the CEO's assessment on Mr Wong Tat Yang's (Mr Wong) performance as Financial Controller ("FC"), taking into consideration his skills, experience, and the market standards and the increased responsibilities and leadership role associated with the position of CFO, recommends Mr Wong to assume the role of the Chief Financial Officer ("CFO").

After CEO and NRC's recommendations, the Board is satisfied that he possesses the requisite experience and capabilities to assume the responsibilities of the CFO and approved the promotion of Mr Wong Tat Yang from FC to CFO.
Whether appointment is executive, and if so, the area of responsibility
The appointment is Executive. Mr Wong will be responsible for overseeing all the financial management, accounting, and corporate secretarial matters in the Group, including leading and supervising the monthly accounts closing, consolidation of Group accounts, half yearly and annual audits, supervising and ensuring the Group's compliance with taxation and financial reporting requirements, and providing overall supervisory control over the Group's finances, liabilities and cash flows.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Professional qualifications
Bachelor of Accountancy from National University of Singapore
Fellow of the Institute of Singapore Chartered Accountants (ISCA)
Fellow of Association of Chartered Certified 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
August 2023 to Present Financial Controller and Company Secretary of Addvalue Technologies Ltd

2019 to 2022 Group Chief Financial Officer of SHS Holdings Limited

2017 to 2018 Group Financial Controller of KLW Holdings Limited

2014 to 2017 Financial Controller of ISDN Holdings Limited

2013 to 2014 Chief Financial Officer of Singapore Kitchen Equipment Ltd

2002 to 2013 Group Chief Financial Officer cum Company Secretary of Matex International Limited
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)
Nil
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 an issuer listed on the Exchange?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
Not applicable. This pertains to the promotion of FC to CFO
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)
Not applicable. This pertains to the promotion of FC to CFO