Change - Announcement of Appointment::Appointment of Non-Executive and Independent Director

Issuer & Securities

Issuer/ Manager
FRASERS LOGISTICS & COMMERCIAL ASSET MANAGEMENT PTE. LTD.
Securities
FRASERS LOGISTICS & COMMERCIAL TRUST - SG1CI9000006 - BUOU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
29-Aug-2022 20:15:51
Status
New
Announcement Sub Title
Appointment of Non-Executive and Independent Director
Announcement Reference
SG220829OTHRNTJH
Submitted By (Co./ Ind. Name)
Catherine Yeo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Executive and Independent Director, the Chairman of the Audit, Risk and Compliance Committee and a member of the Nominating and Remuneration Committee.

Additional Details

Date Of Appointment
01/09/2022
Name Of Person
Kyle Lee Khai Fatt
Age
70
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)
Mr Lee has many years of experience in audit and business advisory services, having worked in both the United Kingdom and Singapore. He was an audit partner and the practice leader for business advisory services of PricewaterhouseCoopers LLP prior to his retirement in 2010. He has also been an independent director on various listed boards, and has held the chairmanships of audit, risk management and nominating committees.

After having considered the qualifications, expertise, experience and independence of Mr Lee, the Board, with the recommendation of the Nominating and Remuneration Committee, approved the appointment of Mr Lee as a Non-Executive and Independent Director of Frasers Logistics & Commercial Asset Management Pte. Ltd. (manager of Frasers Logistics & Commercial Trust). Mr Lee is also appointed as the Chairman of the Audit, Risk and Compliance Committee and a member of the Nominating and Remuneration Committee.

The Board is of the view that Mr Lee's experience would provide further diversity to the core competencies and skill set of the Board. The Board also considers Mr Lee to be independent for the purposes of Rule 704(8) of the Listing Manual 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.)
Non-Executive and Independent Director, the Chairman of the ARCC and a member of the NRC.
Professional qualifications
- Bachelor of Arts (Honours) in Business Studies, Council for National Academic Awards, Polytechnic of South Bank, London
- Master of Business Administration, University of London, Imperial College of Science, Technology and Medicine
- Master of Science (Distinction) in International Management, The School of Oriental and African Studies, University of London
- Fellow of the Institute of Chartered Accountants in England and Wales
- Fellow of the Institute of Singapore Chartered Accountants
- Fellow 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
N.A.
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)
1. Non-Executive and Independent Director of ComfortDelgro Corporation Limited
2. Non-Executive and Independent Chairman of MFS Technology Ltd
3. Non-Executive and Independent Director of CapitaLand Integrated Commercial Trust Management Limited (manager of CapitaLand Integrated Commercial Trust)
4. Non-Executive and Independent Director of FEO Hospitality Asset Management Pte. Ltd. (manager of Far East Hospitality Real Estate Investment Trust)
5. Non-Executive and Independent Director of FEO Hospitality Trust Management Pte. Ltd. (trustee-manager of Far East Hospitality Business Trust)
6. Member of audit committee of The National Art Gallery
Present
1. Non-Executive and Independent Director of Great Eastern Holdings Limited
2. Director of Great Eastern Life Assurance Company 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 Lee is a non-executive and independent director of Great Eastern Holdings Limited, and was formerly a non-executive and independent director of ComfortDelgro Corporation Limited, non-executive and independent chairman of MFS Technology Ltd, non-executive and independent director of CapitaLand Integrated Commercial Trust Management Limited (manager of CapitaLand Integrated Commercial Trust), non-executive and independent director of FEO Hospitality Asset Management Pte. Ltd. (manager of Far East Hospitality Real Estate Investment Trust) and non-executive and independent director of FEO Hospitality Trust Management Pte. Ltd. (trustee-manager of Far East Hospitality Business Trust).