Change - Announcement of Appointment::Appointment of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
HOSEN GROUP LTD.
Securities
HOSEN GROUP LTD - SG1Q03920366 - 5EV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
18-Mar-2024 17:45:25
Status
New
Announcement Sub Title
Appointment of Chief Executive Officer
Announcement Reference
SG240318OTHRSFSN
Submitted By (Co./ Ind. Name)
Lai Foon Kuen
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Lim Hock Chye Daniel as Chief Executive Officer of the Company.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg

Additional Details

Date Of Appointment
01/05/2024
Name Of Person
Lim Hock Chye Daniel
Age
50
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Mr Daniel Lim ("Mr Daniel") joined the Group in 1997 and was appointed executive director on 15 March 2004.

The Board of Directors (the "Board") having considered the Nominating Committee's recommendation and assessment on Mr Daniel's background, qualifications, experience and commitment is of the view that he has the requisite experience and capabilities to assume the responsibilities as the Chief Executive Officer ("CEO") of the Company. Accordingly, the Board of Directors have approved of Mr Daniel's appointment as the CEO of the Company.

As part of succession planning, Mr Daniel will assume the role of CEO from Mr Lim Hai Cheok. Subsequent to Mr Daniel's appointment as the CEO, Mr Lim Hai Cheok will be redesignated from CEO to Executive Director. Mr Lim Hai Cheok continues to be a member of the Nominating Committee.
Whether appointment is executive, and if so, the area of responsibility
The appointment is executive. CEO is in charge of formulating the strategic direction and growth of the Group including carrying out day-to-day overall management and execute the decisions made by the Board.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer, Executive Director
Professional qualifications
Bachelor of Science in Business Administration
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
Son of Lim Hai Cheok, Chief Executive Officer, Executive Director and substantial shareholder and Chong Poh Soon, Senior Director and substantial shareholder.

Nephew of Lim Kim Eng, Executive Director and substantial shareholder.
Conflict of interests (including any competing business)
Nil.
Working experience and occupation(s) during the past 10 years
Director of Hosen Group Ltd and certain of its subsidiaries since 15 March 2004.
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?
Yes
Shareholding Details
Direct interest in 6,613,000 ordinary shares of the Company.
# 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)
1. LaDiva Fine Foods B.V.
2. Hosen Chocolate Marketing Sdn Bhd
Present
1. Hock Seng Food Pte Ltd
2. Hock Seng Food (M) Sdn Bhd
3. Hock Seng Worldwide Sdn Bhd
4. Hock Seng Food (Shanghai) Co., Ltd
5. Hosen Chocolate Sdn Bhd
6. Fortune Melinka 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 an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Not applicable. This is appointment of Chief Executive Officer.
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)
N/A