Change - Announcement of Appointment::APPOINTMENT OF INDEPENDENT AND NON-EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
ASIAPHOS LIMITED
Securities
ASIAPHOS LIMITED - SG2G24997246 - 5WV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-May-2024 17:45:58
Status
New
Announcement Sub Title
APPOINTMENT OF INDEPENDENT AND NON-EXECUTIVE DIRECTOR
Announcement Reference
SG240531OTHRP520
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Lu King Seng as Independent and Non-Executive Director.

This announcement has been reviewed by the Company's Sponsor, Asian Corporate Advisors Pte. Ltd. (the "Sponsor"). It 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. Liau H.K., at 160 Robinson Road, #21-05 SBF Center, Singapore 068914, Telephone number: 6221 0271

Additional Details

Date Of Appointment
31/05/2024
Name Of Person
Lu King Seng
Age
55
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)
Having reviewed and interviewed Mr Lu King Seng ("Mr Lu") as well as other candidates, the existing interim Nominating Committee ("NC") is of the view that Mr Lu is suitable as Independent and Non-Executive Director of the Company taking into account, inter alia, his qualifications, working experience, expertise, suitability, and given the current Group's state of affairs and circumstances.

The NC recommended and the Board approved the appointment of Mr Lu as Independent and Non-Executive Director.

The Board considers Mr Lu to be independent for the purpose of Rule 704(7) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
i. Independent and Non-Executive Director
ii. Chairman of Audit Committee
iii. Member of Nominating and Remuneration Committees
Professional qualifications
i. Chartered Certified Accountant, Emile Woolf College of Accountancy, London, United Kingdom
ii. Chartered Certified Accountant, Association of Chartered Certified Accountants (ACCA)
iii. Non-practising member, Institute of Singapore Chartered Accountants (ISCA)
iv. Member of the Singapore Institute of Directors
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
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
Since 2013, Mr Lu served as Director and Chief Financial Officer at Orion Advisory Group, a company where he also held a shareholder position. His role involved overseeing financial strategies and operations, enhancing corporate governance, and driving key business initiatives. He concluded his tenure at Orion Advisory Group in March 2024. Mr Lu is appointed as Business Development Director of GEO Energy Resources Limited with effect of 3 June 2024.
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)
Directorships
i. Swag EV Pte. Ltd.
ii. Taka Jewellery Holdings Limited
iii. JLogo Holdings Limited
iv. Orion Advisory Pte. Ltd.
v. Orion Polymer Pte. Ltd.
vi. Supreme Wagon Automotive Pte. Ltd.
vii. Lincotrade & Associates Holdings Limited
viii. Geo Energy Resources Limited
ix. Golden Union Advisory Pte. Ltd. (struck off)

Other Past Principal Commitments
Director and Chief Financial Officer at Orion Advisory Group
Present
Directorships
i. Orion Business Advisory Pte. Ltd.
ii. Orion Business Consultancy Pte. Ltd.
iii. Optimus Peak Pte. Ltd.
iv. Rainwood International Pte. Ltd.
v. Aqua Sand Mining Pte. Ltd.
vi. Crystal Sand Trading Pte. Ltd.

Other Principal Commitments
i. Business Development Director of GEO Energy Resources Limited
(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?
Yes
If Yes, Please provide details of prior experience
Mr Lu served as an Independent Director for the following companies:

- Geo Energy Resources Limited
- Taka Jewellery Holdings Limited
- Green Build Technology Limited
- Lincotrade & Associated Holdings Limited

In each of these roles, he was a member of the Audit Committee, Nominating Committee and Remuneration Committee.