Change - Announcement of Appointment::Appointment of Executive Director

Issuer & Securities

Issuer/ Manager
CENTURION CORPORATION LIMITED
Securities
CENTURION CORPORATION LIMITED - SG2D51973063 - OU8
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
08-May-2018 18:16:26
Status
New
Announcement Sub Title
Appointment of Executive Director
Announcement Reference
SG180508OTHRZNVR
Submitted By (Co./ Ind. Name)
Kong Chee Min
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Executive Director

Additional Details

Date Of Appointment
08/05/2018
Name Of Person
Teo Peng Kwang
Age
58
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board of Directors of the Company (the "Board"), having considered the recommendation of the Nominating Committee, the qualifications and working experience of Mr Teo Peng Kwang ("Mr Teo") and Mr Teo's contribution to the Company's business as an Executive Officer of the Company and a director of several subsidiaries of the Company since 1 October 2014, and having noted that the past breaches by Mr Teo generally relate to compliance and corporate governance related matters, is of the view that Mr Teo has the requisite experience and capabilities to assume the responsibilities as an Executive Director of the Company. Accordingly, the Board has approved his appointment.

In addition to reviewing Mr Teo's performance and contribution to the growth of the Group's dormitory business, the Nominating Committee has also considered the written confirmation from the Accounting and Corporate Regulatory Authority of Singapore dated July 2011 that he may accept new appointments as directors in either private and/or public companies, and is of the view that Mr Teo is suitable to be appointed as a Director of the Company.
Whether appointment is executive, and if so, the area of responsibility
This appointment is Executive. Mr Teo is currently the Chief Operating Officer of our Group's Accommodation Business. He oversees the day-to-day operations and expansion of the Group's accommodation business. He also assists in the Group's growth and strategic planning.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Operating Officer - Accommodation Business
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Teo is a substantial shareholder of the Company.
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
Mr Teo has been the Chief Operating Officer of our Group's Accommodation Business since August 2011. He oversees the day-to-day operations and expansion of the accommodation business. He also assists with growth and strategic planning. Mr Teo joined in 2007 as an executive director of Westlite Dormitory (Toh Guan) Pte. Ltd. (formerly known as Centurion Dormitory (Westlite) Pte. Ltd.), one of our Group's acquired subsidiaries in 2011.

Mr Teo has over 20 years of development and management experience in the property and workers accommodation business. He has been the vice president of Dormitory Association of Singapore Limited since July 2015 and previously was the president of the same association from October 2012 to June 2015. He also has been an independent trustee of the board of trustees for the Migrant Workers' Assistance Fund since November 2014. Prior to joining our Group, Mr Teo was the director of Maxi Global Management Pte. Ltd., a company which then provided housing services for foreign workers, from March 2009 to April 2011. He was also the director of Maxfresh Leisure Pte. Ltd., a company principally engaged in the rental services of fishing boats, from August 2010 to April 2011. Mr Teo was also the director of Intertrade (S) Enterprise Pte. Ltd., a company principally engaged in chemical trading, from January 2006 to July 2007.

Prior to 2011, Mr Teo owned and managed various businesses in Singapore including real estate and construction business. He was a director of Westlite Dormitory (Toh Guan) Pte. Ltd., which was involved as a workers dormitory from July 2007 to April 2011 before the acquisitions by the Company of (i) 45% interest in Lian Beng-Centurion (Mandai) Pte. Ltd.; and (ii) the entire issued and paid-up share capital of Westlite Dormitory (Toh Guan) Pte. Ltd. pursuant to the terms and conditions of the sale and purchase agreements both dated 6 April 2011 and completed in August 2011. Mr Teo has been appointed as a director of Westlite Dormitory (Toh Guan) Pte. Ltd. since 1 October 2014.
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?
Yes
Shareholding Details
63,723,330 ordinary shares in the Company
# 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)
Please refer to Appendix A
Present
Please refer to Appendix A
(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?
Yes
If Yes, Please provide full details
Please refer to Appendix B
(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?
Yes
If Yes, Please provide full details
Please refer to Appendix B
(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?
Yes
If Yes, Please provide full details
Please refer to Appendix B
(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?
Yes
If Yes, Please provide full details
Please refer to Appendix B
(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
Yes
If Yes, Please provide full details
Please refer to Appendix B
(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 B
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
The Company will arrange for Mr Teo to attend relevant training to familiarize himself with the role and responsibilities as a Director of a listed company, as appropriate.

Attachments