Change - Announcement of Appointment::Appointment of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
IEV HOLDINGS LIMITED
Securities
IEV HOLDINGS LIMITED - SG2D67974808 - 5TN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
09-Jul-2019 22:29:56
Status
New
Announcement Sub Title
Appointment of Independent Non-Executive Director
Announcement Reference
SG190709OTHR7PS3
Submitted By (Co./ Ind. Name)
Christopher Nghia Do
Designation
President and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Ms Ng Yau Kuen Carmen as Independent Non-Executive Director.

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr. Ong Hwee Li, at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542, telephone (65) 6232 3210.

Additional Details

Date Of Appointment
10/07/2019
Name Of Person
Ng Yau Kuen Carmen
Age
43
Country Of Principal Residence
Hong Kong
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Upon recommendation from the Nominating Committee, the Board of Directors (the "Board") after having reviewed and considered the qualification, working experience and independence of Ms Ng Yau Kuen Carmen ("Ms Carmen Ng"), has approved the appointment of Ms Carmen Ng as an Independent Non-Executive Director of the Company. The Board considers Ms Carmen Ng to be independent for the purpose of Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the SGX-ST.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director
Professional qualifications
Fellow member of Hong Kong Institute of Certified Public Accountant
The Chinese University of Hong Kong - Bachelor of Business Administration in Professional Accountancy
The Hong Kong University of Science and Technology - Master of Business Administration
The University of Hong Kong - Master of Laws in Corporate and Finance Law
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
Ms Carmen Ng is a controlling shareholder and Director of Cypress Advisory & Consulting Limited ("Cypress Advisory"). Have since 2015 provided corporate secretarial, accounting and advisory services to three (3) inactive Hong Kong companies of Dato Sri Michael Marcus Liew ("Dato Sri Michael") (substantial shareholder of the Company) and an inactive company of Dato' Low Koon Poh ("Dato Low") (Executive Director and substantial shareholder of the Company). The total amount of fees paid to Cypress Advisory did not exceed S$100,000 over any financial year in the said period.

The Directors and the Nominating Committee of the Company, having considered that the amounts paid to Cypress Advisory are not significant, are of the view that the business dealings between Cypress Advisory and companies of Dato Sri Michael and Dato' Low are not of a material nature that would compromise Ms Carmen Ng's independence.

In accordance with the Code of Corporate Governance 2018, the Nominating Committee will, on an annual basis, determine the independence of Ms Carmen Ng.
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
1998 - 2011
Senior Manager of PricewaterhouseCoopers Hong Kong (Financial Services Assurance Department)

2012 - Present
Principal of Cypress Certified Public Accountants and Director of Cypress Advisory & Consulting Limited
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)
None
Present
Directorships:
Koala Financial Group Limited (Listed on Hong Kong Stock Exchange ("HKSE")
Simplicity Holding Limited (Listed on HKSE)
Get Nice Financial Group Limited (Listed on HKSE)
Cypress Advisory & Consulting Limited
Prince Foster Professional Services Limited
Corwell Global Limited
Chinese Legends Wealth Management Limited
Easy Global Ventures Limited
Global Alliance Commerce Group Limited
LinkedIn Technology Holding Limited
Global Outstanding Entrepreneurs Alliance Limited
Lumine Capital Limited

Other Principal Commitment:
Cypress Certified Public Accountants
Cypress Advisory & Consulting 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?
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?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
The Company will make arrangement for Ms Carmen Ng to attend the training in the roles and responsibilities of a Director of a listed issuer as prescribed by the Exchange within one year from the date of her appointment to the Board.
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)
Not applicable