Change - Announcement of Appointment::Re-designation of Director of subsidiary who is relative of Directors,CEO & Substantial Shareholders

Issuer & Securities

Issuer/ Manager
TAI SIN ELECTRIC LIMITED
Securities
TAI SIN ELECTRIC LIMITED - SG1F88861140 - 500
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Jul-2024 17:39:10
Status
New
Announcement Sub Title
Re-designation of Director of subsidiary who is relative of Directors,CEO & Substantial Shareholders
Announcement Reference
SG240701OTHRTUHE
Submitted By (Co./ Ind. Name)
Hazel Chia
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Re-designation of Mr. Lim Chai Lai @ Louis Lim Chai Lai, a relative of Directors (including the Chief Executive Officer who is also a Director) and substantial shareholders of the Company, from Executive Director to Non-Executive Director of the Company's wholly-owned subsidiary, Lim Kim Hai Electric Co. (S) Pte. Ltd..

Additional Details

Date Of Appointment
01/07/2024
Name Of Person
Lim Chai Lai @ Louis Lim Chai Lai
Age
78
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)
Mr. Lim Chai Lai @ Louis Lim Chai Lai ("Louis Lim") has stepped down from his executive role in Lim Kim Hai Electric Co. (S) Pte. Ltd. ("LKHE"), a wholly-owned subsidiary of the Company, due to retirement. Given his management experience and capabilities, the Board has accepted the recommendation of the Nominating Committee and approved the re-designation of Louis Lim from Executive Director to Non-Executive Director of LKHE, with effect from 1 July 2024. Louis Lim to remain as Chairman of the Board of Directors of LKHE.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive.

Louis Lim is not an Executive Officer under the Listing Manual of the Singapore Exchange Securities Trading Limited. Accordingly, the undertaking required under SGX Listing Rule 720(1) is not applicable.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director and Board Chairman of LKHE.
Professional qualifications
Not applicable.
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
Louis Lim and his wife, Mdm. Chan Kum Lin are substantial shareholders of the Company.
In addition, Louis Lim is:

(i) brother of Mr. Lim Chye Huat @ Bobby Lim Chye Huat, Non-Executive Director and Board Chairman who is also a substantial shareholder of the Company.

(ii) brother-in-law of Mr. Chia Ah Heng, a director of the Company's principal subsidiary, namely, LKHE.

(iii) uncle of Mr. Lim Boon Hock Bernard ("Bernard Lim"), Executive Director and Chief Executive Officer who is also a substantial shareholder of the Company. Bernard Lim is also a Director of the Company's principal subsidiaries, namely, LKHE and CAST Laboratories Pte Ltd ("CAST Lab").

(iv) uncle-in-law of Mdm. Pang Yoke Chun, the wife of Bernard Lim and a substantial shareholder of the Company.

(v) uncle of Mr. Lim Boon Hoh, Benedict ("Benedict Lim"), Executive Director and General Manager - Operations of CAST Lab who is also a substantial shareholder of the Company.

(vi) uncle-in-law of Mdm. Guah Li Mei Joanna, the wife of Benedict Lim and a substantial shareholder of the Company.

(vii) uncle of Mr. Lim Boon Chin Benjamin, a substantial shareholder of the Company.
Conflict of interests (including any competing business)
None.
Working experience and occupation(s) during the past 10 years
Louis Lim joined LKHE since 1967 and is the Board Chairman of LKHE (1July 2008 to present).
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Louis Lim has a direct interest in 16,802,867 ordinary shares and is also deemed to have an interest in 6,301,471 ordinary shares (held by his wife) of Tai Sin Electric Limited.
# 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
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
Not applicable as this is not an appointment of Director.