Change - Announcement of Appointment::Appointment of Independent & Non-executive Director

Issuer & Securities

Issuer/ Manager
YEO HIAP SENG LTD
Securities
YEO HIAP SENG LTD - SG1I10878425 - Y03
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
15-Jul-2022 17:28:33
Status
New
Announcement Sub Title
Appointment of Independent & Non-executive Director
Announcement Reference
SG220715OTHRE6P3
Submitted By (Co./ Ind. Name)
Tan Pek Bhee
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Ong Kay Eng as an Independent & Non-executive Director.

Additional Details

Date Of Appointment
15/07/2022
Name Of Person
Ong Kay Eng
Age
76
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)
At the recommendation of the Nominating Committee which has reviewed the qualifications and experience of Mr Ong Kay Eng, the Board of Directors approved the appointment of Mr Ong as an Independent & Non-executive Director in view of his extensive experience in banking and finance being a veteran banker over 43 years.
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
Lead Independent Director
Chairman of Audit & Risk Committee
Member of Nominating Committee
Professional qualifications
The Gilbart Lectures on Banking
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
N/A
Conflict of interests (including any competing business)
N/A
Working experience and occupation(s) during the past 10 years
2017 - Present:
Independent Non-Executive Director of EnGro Corporation Limited (publicly listed on the SGX Mainboard)

2011 - Present:
Independent Non-Executive Director of Sino Land Company Limited (publicly listed on Hong Kong Stock Exchange)

2005 - Present:
Independent Non-Executive Director of Tsim Sha Tsui Properties Limited and Sino Hotels (Holdings) Limited (both publicly listed on Hong Kong Stock Exchange)

2004 - 2006:
Chairman of Foreign Bankers Association in Beijing, PRC

1990 - 2006:
Chief Representative & Country Manager in Greater China for Banca Monte dei Paschi di Siena S.p.A. and was retained as Senior Advisor from 2006 - 2008
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)
Altrade Investments Pte Ltd (struck off)
Present
Listed on SGX Mainboard:
EnGro Corporation Limited

Listed on Hong Kong Stock Exchange:
Sino Land Company Limited
Tsim Sha Tsui Properties Limited
Sino Hotels (Holdings) Limited
(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
Mr Ong Kay Eng is an Independent Non-Executive Director of EnGro Corporation Limited which is publicly listed on the SGX Mainboard.
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)
Mr Ong Kay Eng has sufficient and adequate experience and exposure from being a director on four publicly listed companies of which one is listed in Singapore and three in Hong Kong.