Change - Announcement of Appointment::Re-designation of Independent Director to Executive Director - Ms Yong Oi Ling

Issuer & Securities

Issuer/ Manager
SIM LEISURE GROUP LTD.
Securities
SIM LEISURE GROUP LTD. - SGXE75616446 - URR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
11-Jun-2021 17:29:29
Status
New
Announcement Sub Title
Re-designation of Independent Director to Executive Director - Ms Yong Oi Ling
Announcement Reference
SG210611OTHRMGFJ
Submitted By (Co./ Ind. Name)
Sim Choo Kheng
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Re-designation of Ms Yong Oi Ling as an Independent Director to Executive Director

This announcement has been prepared by the Company and reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by 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 Ms Goh Mei Xian, Associate Director, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Date Of Appointment
14/06/2021
Name Of Person
Yong Oi Ling
Age
61
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Ms Yong Oi Ling ("Ms Yong") is presently the Independent Director of the Company. As the Company has been without a management that is based in Singapore to facilitate the pursuit of corporate and strategic initiatives to expand the Group's core business into Singapore, the management of the Company proposed that one of the current Non-Executive Directors of the Company be re-designated to an executive capacity to drive these initiatives. It was discussed and agreed that Ms Yong would be the most appropriate candidate on the Board to take on this role.

The Board, having considered the recommendation of the Nominating Committee ("NC") and assessed, among others, the qualifications, expertise, work experience and overall contribution of Ms Yong to the Company, is of the view that Ms Yong (a) possesses the requisite experience and capabilities to assume the duties and responsibilities; and (b) is able to devote sufficient time and attention to handle the affairs of the Company, as an Executive Director of the Company. Ms Yong, being a member of the NC and the Board, has abstained from the deliberations of the NC and the Board in relation to her re-designation as an Executive Director.

Accordingly, the Board has approved the re-designation of Ms Yong as an Independent Director to an Executive Director of the Company. Following her re-designation, Ms Yong will cease to be Chairman of the NC and a member of the Audit Committee and the Remuneration Committee of the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive. As Executive Director - Corporate Services, Ms Yong's primary responsibility is the pursuit of corporate and strategic initiatives to expand the Group's core business into Singapore. Ms Yong is also responsible for (i) overseeing the functions undertaken by the Finance and Corporate Services Departments of the Group; (ii) ensuring that all necessary procedures are executed in compliance with the relevant rules and regulations of the Singapore Exchange and other regulatory authorities; and (ii) engaging with professionals to ensure timely response to any queries and requests for information from the Board of Directors of the Company, the Singapore Exchange, and/or any other regulatory authorities.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director - Corporate Services
Professional qualifications
CHARTERED SECRETARIES QUALIFYING SCHEME (CSQS) | 1983 | INSTITUTE OF CHARTERED SECRETARIES AND ADMINISTRATORS LONDON.
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
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
i) OCT 2018 - PRESENT: INDEPENDENT DIRECTOR | SIM LEISURE GROUP LTD.
ii) OCT 2013 - MAR 2017: REGIONAL HEAD OF INSTITUTIONAL EQUITIES | RHB INVESTMENT BANK
iii) NOV 2011 - SEPT 2018: EXECUTIVE DIRECTOR | LIAM CONSULTANTS PTE. LTD.
iv) AUG 2008 - NOV 2011: HEAD OF INSTITUTIONAL SALES (ASIA) | UOB KAY HIAN HOLDINGS
v) NOV 2004 - JUL 2008: HEAD OF INSTITUTIONAL SALES (MALAYSIA) | MACQUARIE GROUP
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 Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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)
Liam Consultants Sdn Bhd
Liam Consultants Pte. Ltd.
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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Ms Yong is currently the Independent Director of the Company.
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.