Change - Announcement of Appointment::Appointment of a person occupying a managerial position of the Company who is relative of a director

Issuer & Securities

Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
11-Apr-2016 07:17:20
Status
New
Announcement Sub Title
Appointment of a person occupying a managerial position of the Company who is relative of a director
Announcement Reference
SG160411OTHRSCOE
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of a person occupying a managerial position of the Company who is relative of a director

Additional Details

Date Of Appointment
11/04/2016
Name Of Person
Kwek Eik Sheng
Age
34
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee (NC) has recommended the appointment of Mr Kwek Eik Sheng as Head, Asset Management, in addition to his current role as Chief Strategy Officer of the Company. The NC had taken into consideration, inter alia, Mr Kwek's qualifications, experience and competencies. The Board has approved the appointment as recommended by the NC and is of the view that this appointment is in line with the Company's commitment to groom leaders internally to provide for succession planning and continuity of leadership within the senior management team.
Whether appointment is executive, and if so, the area of responsibility
Executive appointment - As Head, Asset Management, his responsibilities extend to developing and implementing asset strategies for the management of the Group's diverse asset portfolio in order to achieve effective and efficient returns. These responsibilities complement his current role as Chief Strategy Officer where he supports the Chief Executive Officer in investment analysis and formulation of business strategies to explore new sectors for growth and to drive corporate-wide initiatives for increased corporate efficiency and innovation.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Head, Asset Management and Chief Strategy Officer of City Developments Limited ("CDL")
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nephew of Mr Kwek Leng Beng, Executive Chairman, and Mr Kwek Leng Peck, non-executive Director.
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
Mr Kwek has extensive financial and management experience in the leisure and real estate sectors. His working experience is set out below:

April 2014 - Current
Chief Strategy Officer, CDL
- His role is to support the Chief Executive Officer of CDL in investment analysis and the formulation of business strategies.

January 2011 - March 2014
Head, Corporate Development, CDL
- Assisted in the generation and implementation of strategies that would improve corporate performance, championed change management and led corporate planning to further CDL's goals.

January 2009 - December 2010
Assistant General Manager, Business Development & Asset Management (International)
- Assisted the senior management in the review of overseas investment projects and management of the Group's overseas assets.

2006 - December 2008
Assistant Vice President, Hong Leong Management Services Pte Ltd
- Assisted in the analysis and review of merger and acquisition transactions and management reorganisation work.


Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# 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)
Not applicable.
Present
Not applicable.
(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
Disclosure applicable to the appointment of Director only.
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
Not applicable.