Change - Announcement of Appointment::Appointment of Non-Executive and Independent Chairman

Issuer & Securities

Issuer/ Manager
V2Y CORPORATION LTD.
Securities
V2Y CORPORATION LTD. - SGXE31442804 - V2Y
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
13-Sep-2024 18:38:10
Status
New
Announcement Sub Title
Appointment of Non-Executive and Independent Chairman
Announcement Reference
SG240913OTHRL3U3
Submitted By (Co./ Ind. Name)
Ong Shen Chieh (Wang Shengjie)
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the sponsor is Mr. Khong Choun Mun at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: sponsor@rhtgoc.com.

Additional Details

Date Of Appointment
13/09/2024
Name Of Person
Yip Mun Foong
Age
74
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 Nominating Committee (the "NC") of the Company, having reviewed Mr Yip's educational background, professional qualifications and working experience, is of the view that Mr Yip has the necessary qualifications, working experience and ability to contribute to the Company, and thus recommended to the Board that Mr Yip be appointed as a Non-Executive and Independent Chairman.

In light of the reasons above and having considered the recommendation of the NC, the Board has approved the appointment of Mr Yip as a Non-Executive and Independent Chairman of the Company. Further to this, the Board considers Mr Yip to be independent for the purposes of Rule 704(7) of the Catalist Rules.
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-Executive and Independent Chairman and (with effect from 30 September 2024) Chairman of the RC, member of the NC and AC
Professional qualifications
Post-Graduate Diploma in Management Studies, Graduate School of Business, University of Chicago

Post-Graduate Diploma in Financial Management, Stern School of Business Administration, New York University

Diploma in Banking, Chartered Institute of Bankers, London

Executive Diploma in Directorship, Singapore Institute of Directors and Singapore Management University
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
July 2019 to Present:
Principal Partner, Orion-Rigel Pte Ltd

July 2015 to December 2017:
Principal Partner, Pyxis Capital Partners Pte Ltd

July 2013 to February 2020:
Lead Independent Director, USP Group Ltd

December 2015 to February 2020:
Independent Director, China Essence Group Ltd

April 2019 to November 2020:
Director, Sampire Global Pte Ltd

April 2019 to November 2020:
Director, Eastlife Pte Ltd

April 2019 to November 2020:
Director, Maxglobe Pte Ltd

March 2016 to October 2017:
Advisor / Consultant, Glory Fund Management Group 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)
Directorships:

(1) USP Group Ltd

(2) China Essence Group Ltd

(3) Sampire Global Pte Ltd

(4) Eastlife Pte Ltd

(5) Maxglobe Pte Ltd

Other Principal Commitments:

Nil
Present
Directorships:

Non-Executive Director, Asiatic Group (Holdings) Ltd

Other Principal Commitments:

Senior Accredited Director, Singapore Institute of Directors
(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 Yip is currently a Non-Executive Director at Asiatic Group (Holdings) Limited, a company listed on the Catalist Board.

Mr Yip has also previously served as a Non-Executive Director at the following companies listed on the Mainboard:

1. USP Group Ltd;

2. China Essence Group Ltd (delisted in 2019); and

3. Link Energy Ltd (liquidated in 2016).
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)
Nil