Change - Announcement of Appointment::Appointment of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
TIONG SENG HOLDINGS LIMITED
Securities
TIONG SENG HOLDINGS LIMITED - SG1BH4000005 - BFI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Jul-2020 07:59:50
Status
New
Announcement Sub Title
Appointment of Chief Executive Officer
Announcement Reference
SG200728OTHRW85O
Submitted By (Co./ Ind. Name)
Ong Lay Khiam
Designation
Non-Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Pay Sim Tee as Chief Executive Officer.

Additional Details

Date Of Appointment
01/08/2020
Name Of Person
Pay Sim Tee
Age
69
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board has upon the recommendation of the Nominating Committee appointed Mr. Pay Sim Tee to replace Mr. Pek as the Chief Executive Officer of the Company and the Managing Director of Tiong Seng Contractors (Private) Limited with effect from 1 August 2020. Mr. Pay Sim Tee is currently an Executive Director of the Company and also an Executive Director of Tiong Seng Contractors (Private) Limited. He has more than 40 years of experience with the Group, and is also a current member of the Group's Executive Committee.
Whether appointment is executive, and if so, the area of responsibility
Responsible for formulating the Group's business strategy, directions, corporate plans and policies and day-to-day management affairs of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director, Chief Executive Officer and Member of the Nominating Committee
Professional qualifications
Technician Diploma in Civil Engineering
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
i) Cousin of Pek Lian Guan (Executive Director & CEO till 31 July 2020);
ii) Cousin of Pek Dien Kee (Head of Asset Management);
iii) Cousin of Pay Teow Heng (Project Director);
iv) Uncle of Ong Chun Tiong (General Manager for the Group's subsidiaries in Tianjin, PRC);
v) Uncle of Pek Zhi Kai (Manager, Business Development of Tiong Seng Chang De Investment (Pte.) Ltd.
vi) Director and shareholder of Peck Tiong Choon (Private) Limited (Substantial shareholder);
Conflict of interests (including any competing business)
Mr Pay Sim Tee holds numerous directorships in other companies (as disclosed in "working experience and occupation(s) during the past 10 years") which may have transactions with the Group. There are guidelines and review procedures for transactions made where potential conflict of interest may arise, including the review procedures described in section 3.5 of Appendix to the notice of AGM in relation to interested person transaction mandate and guidelines and review procedures enumerated in the Company's IPO prospectus dated 7 April 2010.
Working experience and occupation(s) during the past 10 years
Director of the following companies:

i) Tiong Seng Group
ii) Peck Tiong Choon Group
iii) Chang Chun Tang Pte. Ltd.
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)
Solid Resource Investment Ltd
Solid Resources (S) Holding Pte. Ltd.
Jiangsu Huiyang Construction Development Co., Ltd
Present
Tiong Seng Holdings Limited
Tiong Seng Chang De Investment (Pte.) Ltd.
Tiong Seng Contractors (Private) Limited
Robin Village Development Pte. Ltd.
Jet-Scan Private Limited
TSC Innovative Builder Pte. Ltd.
Tiong Seng Properties (Private) Limited
TSC Contractors (PNG) Limited
Tianjin Zizhulin Development Co., Ltd.
Tianjin Zizhulin Investment Holding Group Co., Ltd.
Tiong Seng (Tianjin) Investment Co., Ltd.
Tianjin Tianmen Jinwan Property Development Co., Ltd
Tianjin Zizhulin Guangang Property Development Co., Ltd.
Suzhou ChangHe Investment and Development Co,. Ltd.
Cangzhou Huashi Property Development Co., Ltd.
Suzhou Huisheng Construction Development Co., Ltd.
Peck Tiong Choon (Private) Limited
Peck Tiong Choon Transport Pte. Ltd.
Peck Tiong Choon Logistic Pte. Ltd.
Peck Tiong Choon Leasing Pte. Ltd.
Chang Chun Tang Pte. Ltd.
(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. Pay Sim Tee has been the director of the Company since 2010 and with the 10 years of experience as executive director of the Company, nominating committee is satisfied that he is not required to undergo training as prescribed by the Exchange.