Change - Announcement of Appointment::Appointment of Independent Director - Lai Chin Yee

Issuer & Securities

Issuer/ Manager
ABUNDANCE INTERNATIONAL LIMITED
Securities
ABUNDANCE INTERNATIONAL LTD - SG1I02877971 - 541
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
23-Jan-2024 17:45:37
Status
New
Announcement Sub Title
Appointment of Independent Director - Lai Chin Yee
Announcement Reference
SG240123OTHRJ6CQ
Submitted By (Co./ Ind. Name)
Ong Beng Hong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This document has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST 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 Mr Ng Joo Khin, Tel: 6389 3000, Email: jookhin.ng@morganlewis.com.

Additional Details

Date Of Appointment
01/02/2024
Name Of Person
Lai Chin Yee
Age
58
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 has approved the appointment of Lai Chin Yee as Lead Independent Director of the Company after taking into account her experience and ability to contribute to the Company.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director
Chairman of the Audit Committee
Member of the Nominating Committee
Member of the Remuneration Committee
Professional qualifications
Bachelor's degree in Accountancy, National University of Singapore
Fellow Chartered Accountant (FCA) of the Institute of Singapore Chartered Accountants (ISCA)
Member of the Singapore Institute of Directors (SID)
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
May 2000 - Nov 2004 : Financial Controller of Qian Hu Corporation Limited ("QHCL")

November 2004 - Present : Finance Director of QHCL

July 2001 - Present : Company Secretary of QHCL
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)
Ryobi Kiso Holdings Ltd (December 2009 - May 2019): Independent Director & Chairman of Audit Committee

Qian Hu Corporation Limited (November 2004 - March 2022): Executive Director
Present
Micro-Mechanics (Holdings) Ltd (June 2014 - Present): Independent Non-Executive Director, Chairman of Audit Committee & Risk Management/Sustainability Committee

Institute of Singapore Chartered Accountants ("ISCA") (April 2018 - Present): Council Member

Accounting and Corporate Regulatory Authority ("ACRA") (April 2019 - Present): Board Member

ACRA (April 2021 - Present): Chairman of Audit and Risk Management Committee

Chua Chu Kang Town Council (August 2020 - Present): Town Councilor and Vice Chairman of Finance Committee

Singapore Paincare Holdings Ltd (June 2020 - Present): Independent Non-Executive Chairman & Chairman of Audit Committee

Livingpath Private Limited (September 2022 - Present): Director
(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?
Yes
If Yes, Please provide full details
Ms Lai was the independent director of Ryobi Kiso Holdings Ltd. ("RKH") which was placed under judicial management in May 2019. Ms Lai, together with all the independent directors of RKH, stepped down as its independent director following the judicial management orders made on RKH, where all powers conferred and duties imposed on the directors by the Companies Act of Singapore or the Constitution of the company shall be exercised or performed by the judicial managers.

As an independent director of RKH, Ms Lai was not involved in the day-to-day operation of RKH.
(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?
Yes
If Yes, Please provide details of prior experience
November 2004 to March 2022 - Qian Hu Corporation Limited
(Executive Director)

June 2007 to April 2015 - China Sports International Limited
(Lead Independent Non-Executive Director & Chairman of Audit Committee)

December 2009 to May 2019 - Ryobi Kiso Holdings Ltd
(Independent Non-Executive Director & Chairman of Audit Committee)

March 2010 to September 2013 - CCM Group Limited
(Independent Non-Executive Director & Chairman of Audit Committee)

June 2014 to Present - Micro-Mechanics (Holdings) Ltd
(Independent Non-Executive Director & Chairman of Audit Committee & Risk Management/Sustainability Committee)

June 2020 to Present - Singapore Paincare Holdings Ltd
(Independent Non-Executive Chairman & Chairman of the Audit Committee)
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