Change - Announcement of Appointment::Appointment of Executive Director and Chief Restructuring Officer

Issuer & Securities

Issuer/ Manager
MM2 ASIA LTD.
Securities
MM2 ASIA LTD. - SG1DC0000006 - 1B0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
29-Jul-2025 22:52:08
Status
New
Announcement Sub Title
Appointment of Executive Director and Chief Restructuring Officer
Announcement Reference
SG250729OTHRCS6O
Submitted By (Co./ Ind. Name)
Melvin Ang Wee Chye
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Ang Chiang Meng ("Mr Ang") as Executive Director and Chief Restructuring Officer

Additional Details

Date Of Appointment
01/08/2025
Name Of Person
Ang Chiang Meng
Age
40
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)
The Board of Directors is of the opinion that Mr Ang can contribute positively to the Company after reviewing the Nominating Committee's recommendation and Mr Ang's qualifications, extensive experience and suitability.
Whether appointment is executive, and if so, the area of responsibility
Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Restructuring Officer
Professional qualifications
Bachelor of Science (Real Estate), National University of Singapore
Practising Management Consultant
Chartered Valuer and Appraiser
Senior Accredited Director
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
May 2019 to Present
Managing Partner
Argile Partners Pte. Ltd.

June 2015 - April 2019
Director
Borrelli Walsh Pte. Ltd.

July 2010 - May 2015
Assistant Vice President
DBS Bank 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)
Brewin Mesa Pte. Ltd.
SEA Special Situations Pte. Ltd.
Axington Inc.
PT Pollux Barelang Megasuperblok
Argile Partners Sdn. Bhd.
CFLD Investments XVI Pte. Ltd.
CFLD Investments XVII Pte. Ltd.
PT CFLD Karawang New Industry City Development
Audex Governance Sdn Bhd
Agritrade Resources Limited
Lava Marketing Holding Pte. Ltd.
Axington Singapore Pte. Ltd.
TWS Branding Pte. Ltd.
Present
Hundred Thoughts Pte. Ltd.
Argile Asia Partners Pte. Ltd.
PT Argile Asia Partners
Argile (Malaysia) Sdn. Bhd.
Argile Partners Pte. Ltd.
AP Transaction Services Pte. Ltd.
R&O Trust and Agency (HK) Limited
R&O Corporate Services Pte. Ltd.
Red & Orange Company Pte. Ltd.
R&O (SG) Pte. Ltd.
R&O Assets Pte. Ltd.
Apex Lead Investment Holdings Limited
Success Elegant Trading Limited
Shanghai Nizhi Guanli Zixun Co. Ltd.
Eagle Landing Pte. Ltd.
Singapore Kitchen Equipment 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?
Yes
If Yes, Please provide full details
As part of his role as a restructuring professional with Borrelli Walsh Pte Ltd ("Borrelli"), Mr Ang was appointed as a director of Opus Offshore Pte. Ltd., Opus Off shore Drilling M.E. Pte. Ltd., Opus Off shore Drilling India Pte. Ltd., Opus Mercur Pte. Ltd., and Songa Opus Off shore Drilling Pte. Ltd. (collectively known as the "Opus Entities") in February 2017 to drive the restructuring of the Opus group of companies. Mr Ang resigned as a director of the Opus Entities following his resignation from Borrelli in April 2019. Subsequent to Mr Ang's resignation, the restructuring of the Opus group of companies did not materialise given the state of the oil and gas industry, and the Opus Entities were subsequently either dissolved via compulsory winding up (insolvency) or creditors voluntary winding up, or in liquidation via creditors voluntary winding up.

As part of his role as a restructuring professional with Argile Partners Pte. Ltd., Mr Ang was appointed as a director of Agritrade Resources Limited ("ARL"), which was placed under soft-touch provisional liquidation for restructuring purposes by the Bermuda courts in June 2020, in August 2021 to drive the restructuring of the ARL group of companies. The restructuring of the ARL group of companies did not materialise and ARL was placed under full provisional liquidation by the Bermuda courts in January 2022.
(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
Yes
If Yes, Please provide full details
Mr Ang was appointed as an independent non-executive director of Singapore Kitchen Equipment Limited ("SKEL") on 5 August 2021. SKEL had on 11 April 2022, announced that the Accounting and Corporate Regulatory Authority ("ACRA") had on 30 March 2022, informed SKEL that ACRA was conducting an investigation into possible breaches of Section 402(1) of the Companies Act 1967 ("the Act"), and requested the Company provide to ACRA a copy of a report in relation to an ongoing independent review by Rajah & Tann Singapore on potential irregularities ("Irregularities") relating to certain accounting records of SKEL's whollyowned subsidiary (the "Report"). Section 402(1) of the Act relates to the intentional making of false statements or reports by an officer of a corporation to, among others, a director or auditor of that corporation. Such Irregularities relates to periods prior to Mr Ang's appointment to the board of SKEL, and to the best of his knowledge, he is not the subject of ACRA's investigations.
(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
Non-Executive Independent Director, Axington Inc.
2020 - 2021

Executive Director, Axington Inc.
2021 - 2024

Executive Chairman, Agritrade Resources Limited
2021 - 2022

Non-Executive Independent Director, Singapore Kitchen Equipment Limited
2021 - Current
Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable)
N/A