Change - Announcement of Appointment::APPOINTMENT OF CHAIRMAN OF THE BOARD - ONG BENG CHYE

Issuer & Securities

Issuer/ Manager
LMS COMPLIANCE LTD.
Securities
LMS COMPLIANCE LTD. - SGXE55274299 - LMS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-Dec-2024 14:34:42
Status
New
Announcement Sub Title
APPOINTMENT OF CHAIRMAN OF THE BOARD - ONG BENG CHYE
Announcement Reference
SG241231OTHR5BG4
Submitted By (Co./ Ind. Name)
Ooi Shu Geok
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Ong Beng Chye as the Chairman of the Board.

This announcement has been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Mr. Alex Tan, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Date Of Appointment
01/01/2025
Name Of Person
Ong Beng Chye
Age
56
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
24/04/2024
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Mr Ong Beng Chye ("Mr Ong") is presently an Independent Non-Executive Director of LMS Compliance Ltd. (the "Company"). Following the resignation of Datuk Fadilah Binti Baharin as the Independent Non-Executive Chairman of the board of directors (the "Board") of the Company with effect from 1 January 2025, the Nominating Committee ("NC") has proposed Mr Ong to be appointed as the Chairman of the Board and re-designated as the Independent Non-Executive Chairman of the Board.

The NC has reviewed the credentials, qualification, experience and expertise of Mr Ong, an incumbent Independent Non-Executive Director of the Company, and is satisfied that he possesses the requisite qualifications and competencies to assume the position of the Chairman of the Board.

Accordingly, the Board, having considered the recommendation of the NC, approved the appointment of Mr Ong as the Chairman of the Board with effect from 1 January 2025. For the avoidance of doubt, Mr Ong will remain as the Chairman of the Audit Committee, and a member of the Remuneration Committee and the Nominating Committee.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman of the Board, Independent Non-Executive Director, Chairman of the Audit Committee, and a member of the Remuneration Committee and the NC.
Professional qualifications
Bachelor of Science with Honours in Economics and Accountancy, City University of London

Chartered Financial Analyst

Fellow of the Institute of Singapore Chartered Accountants

Fellow of the Institute of Chartered Accountants in England and Wales
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
January 2007 to present: Director of Appleton Global Private Limited
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)
Principal Commitments:

1.) Nil

Directorships:

1.) Hafary Holdings Limited
2.) CapAllianz Holdings Limited
3.) Gem Accounting Pte. Ltd.
4.) Geo Energy Resources Limited
5.) Penta Power Investment Pte. Ltd.
Present
Principal Commitments:

1.) Nil

Directorships:

1.) Appleton Global Private Limited
2.) Gem Corp Services Pte Ltd
3.) ES Group (Holdings) Limited
4.) Alpina Holdings Limited
5.) IPS Securex Holdings Limited
6.) Oxley Holdings Limited
7.) Union Steel Holdings 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 an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Presently, Mr Ong is an Independent Non-Executive Director of the Company as well as the following companies listed on the SGX:

1.) ES Group (Holdings) Limited
2.) Alpina Holdings Limited
3.) IPS Securex Holdings Limited
4.) Oxley Holdings Limited
5.) Union Steel Holdings Ltd
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