Change - Announcement of Appointment::Appointment of Lead Independent Director

Issuer & Securities

Issuer/ Manager
OUE LIMITED
Securities
OUE LIMITED - SG2B80958517 - LJ3
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-Dec-2021 12:31:41
Status
New
Announcement Sub Title
Appointment of Lead Independent Director
Announcement Reference
SG211231OTHRY1FF
Submitted By (Co./ Ind. Name)
Kelvin Chua
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Dr Lim Boh Soon ("Dr Lim") as Lead Independent Director of OUE Limited (the "Company").

Additional Details

Date Of Appointment
01/01/2022
Name Of Person
Lim Boh Soon
Age
65
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board of Directors of the Company, having reviewed and considered Dr Lim's track record, experience, financial literacy, core competencies, qualifications and ability to commit time and effort to carry out duties and responsibilities effectively, has approved his appointment as the Lead Independent 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.)
Lead Independent Director, member of the Audit Committee, chairman of the Nominating Committee and chairman of the Remuneration Committee
Professional qualifications
PhD in Mechanical Engineering, University of Strathclyde, United Kingdom
Bachelor of Science (First Class Honours) in Mechanical Engineering, University of Strathclyde, United Kingdom
Fellow, Singapore Institute of Directors
Senior Member, Singapore Computer Society
Graduate Diploma in Marketing Management, Singapore Institute of Management
Diploma in Marketing, The Chartered Institute of Marketing, United Kingdom
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
From January 2001 to present:
Founder and managing partner, Arise Asset Management Pte Ltd

From May 2016 to present:
Venture Partner, TPT Corporation

From November 2018 to present:
Director, EpicQuant Pte Ltd

From September 2019 to October 2019:
Chief Executive Officer, USP Group 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)
1. AcrossAsia Limited
2. CSE Global Limited
3. OUE Commercial REIT Management Pte. Ltd.
Present
1. Arise Asset Management Pte Ltd
2. ASRI Asset Management Pte. Ltd.
3. EpicQuant Pte. Ltd.
4. Jumbo Group Limited
5. Kairos Asia Outreach
6. Tomi Environmental Solutions Inc.
7. TML Fintech 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?
Yes
If Yes, Please provide full details
Dr Lim was a director of AcrossAsia Limited, and bankruptcy proceedings in Indonesia were commenced against AcrossAsia Limited in 2013.
(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
Yes
If Yes, Please provide full details
Dr Lim was a director of AcrossAsia Limited, which was investigated by the Securities and Futures Commission of Hong Kong ("SFC") for breaching certain disclosure obligations of the Securities and Futures Ordinance.
(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?
Yes
If Yes, Please provide full details
Dr Lim was one of the persons under investigation along with AcrossAsia Limited and the other three (3) directors, in relation to SFC's investigation of AcrossAsia Limited for breaching the Securities and Futures Ordinance. However, upon completion of its investigation, when SFC commenced its proceedings, Dr Lim was not named as a specified person. Therefore, Dr Lim was not a party to such proceedings and no findings were made against him. The SFC did not take disciplinary action against him whatsoever nor was he warned or reprimanded.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Dr Lim was an independent director of OUE Commercial REIT Management Pte. Ltd. from 5 June 2017 to 17 September 2019.

He is also an independent director of Catalist-listed Jumbo Group Limited and NASDAQ-listed Tomi Environmental Solutions Inc.