Change - Announcement of Appointment::Independent Director who is the Chairman of Nominating Committee

Issuer & Securities

Issuer/ Manager
IPS SECUREX HOLDINGS LIMITED
Securities
IPS SECUREX HOLDINGS LIMITED - SG1AG1000002 - 41E
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
26-Jan-2015 19:28:05
Status
New
Announcement Sub Title
Independent Director who is the Chairman of Nominating Committee
Announcement Reference
SG150126OTHRH1EK
Submitted By (Co./ Ind. Name)
Kelvin Lim Ching Song
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement of Appointment of Independent Director who is the Chairman of the Nominating Committee and a member of the Audit Committee and the Remuneration Committee

This announcement has been prepared by IPS Securex Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 persons for the Sponsor are Mr Khong Choun Mun, Managing Director, Corporate Finance and Mr David Tham, Senior Director, Corporate Finance, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, Telephone: +65 6533 9898.

Additional Details

Date Of Appointment
26/01/2015
Name Of Person
Anthony Ang Meng Huat
Age
59
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The nomination of Mr. Anthony Ang Meng Huat ("Mr. Ang") as an Independent Director was duly reviewed by the Company's Nominating Committee and Board of Directors (the "Board"). The Board is of the view that Mr. Ang's experience will enhance the core competencies of the Board. With the training received from a Bachelors in Mechanical Engineering and a Masters of Business Administration and having worked at the Economic Development Board, as a venture capitalist, private fund manager and now managing a listed real estate investment trust ("REIT"), Mr Ang's broad business and professional experiences means he can appreciate the technicality of the products and the many issues involved in the Company s business. Mr. Ang is also currently involved in the management of a listed REIT which is a highly regulated activity with special emphasis on corporate governance. He will be able to assist in reviewing the internal processes of the Company and its subsidiaries to enhance good corporate governance practices.
Whether appointment is executive, and if so, the area of responsibility
The appointment is non-executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Nominating Committee and member of the Audit Committee and Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
February 2003 - Present
Executive Director of Majulah Connection Limited

February 2006 - September 2007
Director, Business and Corporate Affairs, ARA Asset Management Limited

January 2007 - Present
Director of Am ARA REIT Managers Sdn. Bhd.

September 2007 - April 2010
Chief Executive Officer of ARA Asia Dragon Limited, Manager of ARA Asia Dragon Fund

April 2010 - Present
- Director of ARA Asia Dragon Limited, Manager of ARA Asia Dragon Fund
- Chief Executive Officer and Executive Director of ARA Asset Management (Fortune) Limited, Manager of Fortune REIT
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# 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)
Please refer to the Appendix A
Present
Please refer to the Appendix A
(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
Yes
If Yes, Please provide full details
Mr. Ang was an independent director and chairman of the audit committee of E3 Holding Limited ("E3") before it was delisted from the Catalist of the Singapore Exchange Securities Trading Limited ("SGX-ST") on 31 May 2011 pursuant to an announcement dated 24 May 2011. He continues to be a non-executive director of E3 todate. In an announcement by the SGX-ST on 10 June 2010, the SGX-ST had reprimanded E3 and 6 of its previous directors for certain breaches of the SGX-ST listing rules and failures of corporate governance following, inter alia, a special audit commissioned by the then audit committee of E3. Please refer also to the announcements by E3 dated 9 February 2010, 30 April 2010, 20 May 2010, 14 June 2010, 16 January 2011, 13 April 2011, 17 April 2011 and 6 May 2011 for more details.
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
Yes
If Yes, Please provide details of prior experience
Independent Director of E3 Holdings Limited (now delisted)

Chief Executive Officer of ARA Asset Management (Fortune) Limited, Manager of Fortune REIT

Independent Director of Armstrong Industrial Corporation Limited (taken private by a private equity deal in 2014)

Attachments

Appendix A.pdf
Total size =11K