Change - Announcement of Appointment::Re-designation of Independent Director to Non-Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
DUTY FREE INTERNATIONAL LIMITED
Securities
DUTY FREE INTERNATIONALLIMITED - SG2C70966271 - 5SO
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
26-Jun-2024 17:32:32
Status
New
Announcement Sub Title
Re-designation of Independent Director to Non-Independent Non-Executive Director
Announcement Reference
SG240626OTHRY2SY
Submitted By (Co./ Ind. Name)
Lee Sze Siang
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Re-designation of Mr. Chew Soo Lin as Non-Independent Non-Executive Director of the Company.

Additional Details

Date Of Appointment
26/06/2024
Name Of Person
Chew Soo Lin
Age
76
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
26/06/2024
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Pursuant to Listing Rule 210(5)(d)(iv) of the Listing Manual of Singapore Exchange Securities Trading Limited, Mr. Chew Soo Lin will no longer be independent upon the conclusion of the Company s annual general meeting held on 26 June 2024 ("AGM 2024").

Upon recommendation of Nominating Committee (with Mr. Chew Soo Lin abstaining from the decision process), the Board has determined that Mr. Chew Soo Lin possesses the experience, expertise, knowledge and skills to contribute towards the core competencies of the Board and has approved the re-designation of Mr. Chew Soo Lin as Non-Independent Non-Executive Director upon the conclusion of the AGM 2024. Mr. Chew Soo Lin will relinquish his position as member of Nominating Committee but remain as a member of Audit Committee.
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-Independent Non-Executive Director, Member of Audit Committee
Professional qualifications
UK Chartered Accountant
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
Mr. Chew Soo Lin is currently the Executive Chairman of Khong Guan Limited and is also an Independent Director and audit committee member of Asia-Pacific Strategic Investments Limited, MTQ Corporation Limited and Kim Hin Joo (Malaysia) Berhad.
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
Direct interest in 2,669,399 shares in the Company and deemed interest in 133,000 shares held by his mother, Chong Sai Noi @ Chong Mew Leng.
# 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
1. Khong Guan Limited
2. Asia-Pacific Strategic Investment Ltd
3. MTQ Corporation Limited
4. Kim Hin Joo (Malaysia) Berhad
(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. Chew Soo Lin is an Independent Director of the Company prior to his re-designation as Non-Independent Non-Executive Director. He is also an Executive Director of Khong Guan Limited and Independent Director of Asia-Pacific Strategic Investment Ltd and MTQ Corporation Limited.