Change - Announcement of Appointment::Appointment of Mr Choong Yoon Fatt as Director

Issuer & Securities

Issuer/ Manager
ORIENTAL GROUP LTD.
Securities
ORIENTAL GROUP LTD. - SG1Q39922105 - 5FI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
20-Jan-2017 19:46:48
Status
New
Announcement Sub Title
Appointment of Mr Choong Yoon Fatt as Director
Announcement Reference
SG170120OTHRQGOR
Submitted By (Co./ Ind. Name)
Siew Peng Muk
Designation
Interim Judicial Manager
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not 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 accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.

The appointment of Mr Choong Yoon Fatt is pursuant to shareholders' approval at the Extraordinary General Meeting of the Company held on 9 December 2016 ("EGM"), and the Order of Court granted by the High Court of the Republic of Singapore ("Court") on 16 January 2017. The appointment of Mr Choong Yoon Fatt is deemed valid and effective from 9 December 2016. For more details, please refer to the Company's announcements dated 9 December 2016, 13 December 2016, 28 December 2016 and 19 January 2017.

The Company is currently in interim judicial management under the provisions of Part VIIIA of the Singapore Companies Act following the Court order granted on 27 December 2016 ("IJM Court Order"), and Ms Muk Siew Peng, care of KordaMentha Pte Ltd, was appointed as interim judicial manager of the Company on 12 January 2017. For more details, please refer to the Company's announcements dated 13 December 2016, 28 December 2016 and 16 January 2017. Accordingly and whilst the Company is under judicial management, the Sponsor will not be required to conduct an assessment on the suitability of the appointment of Mr Choong Yoon Fatt as required under Rule 226(2)(d) of the Catalist Rules.

Mr Choong Yoon Fatt has provided the Exchange with a statutory declaration which states, inter alia, that:

1) he is not a nominee of or acting under the influence, instruction or direction of any of the Company's former directors / key management who are the subject of the special audit and independent review into the irregularities in Singapore and the People's Republic of China (including but not limited to Mr. Wu Dingrong, Mr. Sun Lu, Mr. Lee Wan Sing and Mr. Lee Ong); and

2) he is independent and not acting under the influence, instruction or direction of any other shareholders of the Company or persons.

Note 1: The composition of the various Board Committees will be discussed and formalised by the Board at a later date. The Company will be making a separate announcement of the same as soon as the composition of the Board Committees has been finalised.

Additional Details

Date Of Appointment
09/12/2016
Name Of Person
Mr Choong Yoon Fatt
Age
41
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The resolution relating to the appointment of Mr Choong Yoon Fatt was approved by shareholders of the Company at the EGM.
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 Director (See Note 1 above)
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
2013 to present: Public accountant practising at SC & Co.
2012 to 2013: Public accountant practising at Reliance Audit LLP
2007 to 2012: Auditor at KPMG Singapore

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)
NA
Present
Non-Listed Companies:
1) Claritas Pte Ltd
2) Claritas Capital Pte Ltd
(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 a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Mr Choong intends to attend the courses relating to directorship and leadership held by Singapore Institute of Directors to better understand his roles and responsibilities as a director of the Company.