Change - Announcement of Appointment::Appointment of Independent Non-Executive Director who is a Audit Committee member

Issuer & Securities

Issuer/ Manager
ISR CAPITAL LIMITED
Securities
ISR CAPITAL LIMITED - SG1P04916067 - 5EC
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
03-Jan-2017 17:55:04
Status
New
Announcement Sub Title
Appointment of Independent Non-Executive Director who is a Audit Committee member
Announcement Reference
SG170103OTHR6X1P
Submitted By (Co./ Ind. Name)
Chen Tong
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Independent Non-Executive Director who is a Audit Committee member

Please refer to the attachment.

Additional Details

Date Of Appointment
03/01/2017
Name Of Person
Lee Ka Shao
Age
47
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board having considered the recommendation of the Nominating Committee and assessed Mr Lee Ka Shao's qualification and experience, is of the view that he has requisite experience and capability to assume the responsibility as Independent Non-Executive Director of the Company.
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, Chairman of Nominating Committee and Remuneration Committee and a member of Audit Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Conflict of interests (including any competing business)
None.
Working experience and occupation(s) during the past 10 years
Mr Lee Ka Shao, a 23-years market practitioner manages a family office, PhiMattell. Formerly a veteran investment banker, trader and fund manager; he now helps to manage the investments and finances of various high net worth families in Asia. He also works with these high net worth families and various Asian listed and private companies in assisting them on financing and restructuring activities.

Prior, he co-founded and was the Chief Investment Officer of Cavenagh Capital in 2009, a global macro hedge fund wih APG (the Dutch civil service pension that is the second largest in the world) as the cornerstone investor with offices in Singapore and Amsterdam.

Before that he was a founding member of Abax Global Capital in 2007, a special-situations hedge fund with Morgan Stanley as cornerstone investor with office in Hong Kong where he ran Global Macro Strategy and South East Asia special situations investments in private and public markets.

Preceding that from 2000 to 2007, he managed an internal absolute returns fund on the $10 billion shareholders' equity of DBS Bank. He also advised on DBS's asset and liability management (ALM) as the Managing Director in Central Treasury. In this period, he was also instrumental in building up DBS leading presence in real estate investment trust (REITs) via its anchoring investments in the nascent REITs arranged and spearheaded by DBS then in Asia.

Mr Lee started with J.P. Morgan in New York in 1993 trading currencies, rates and derivatives. He also started and managed a structuring group offering innovative solutions to help Asian governments rebuild their financial markets in the post 1998 Asian financial crisis meltdown when Asia was wrecked with capital controls, illiquidity and other impediments for companies to obtain financing and global investors looking for optimal investment entries into Asia.
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
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)
Cavenagh Capital Pte. Ltd.
Jervois Capital Pte. Ltd.
Merdeka Ventures Pte. Ltd.
Present
PhiMattell Pte. Ltd.
Kinetic Laboratory Pte. Ltd.
Kinetic Lab 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
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
Currently, Mr. Lee is an Independent Director of SGX listed Asia Fashion Holdings Limited.

Attachments

ISR - Announcement - Appt ID - Final.pdf
Total size =77K