Change - Announcement of Appointment::Appointment of Executive Chairman of the Board

Issuer & Securities

Issuer/ Manager
HONG LEONG ASIA LTD.
Securities
HONG LEONG ASIA LTD. - SG1F76860344 - H22
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Apr-2017 20:12:23
Status
New
Announcement Sub Title
Appointment of Executive Chairman of the Board
Announcement Reference
SG170428OTHRB8XI
Submitted By (Co./ Ind. Name)
Ng Siew Ping, Jaslin
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Kwek Leng Peck as the Executive Chairman of the Board.

Additional Details

Date Of Appointment
28/04/2017
Name Of Person
Kwek Leng Peck
Age
60
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr Kwek Leng Peck s appointment as the Executive Chairman, to succeed Mr Kwek Leng Beng following the latter's retirement as a Non-Executive Director at the 56th Annual General Meeting of the Company held on 28 April 2017 ("56th AGM"), was recommended by the Nominating Committee and approved by the Board, after taking into consideration Mr Kwek Leng Peck's experience and in-depth knowledge of the Group's business.
Whether appointment is executive, and if so, the area of responsibility
Yes.

Mr Kwek Leng Peck will assume the role of Executive Chairman immediately upon the conclusion of the 56th AGM. As Executive Chairman, he will bear overall executive responsibility for the Group's business and lead the Board in developing policies and strategies for the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Kwek Leng Peck is a cousin of Mr Kwek Leng Beng, the Non-Executive Chairman of the Board before his retirement at the 56th AGM.
Conflict of interests (including any competing business)
Nil.
Working experience and occupation(s) during the past 10 years
Mr Kwek Leng Peck has served on the Board since 1982 and became an Executive Director of the Company in 1998.

Upon his re-election as Director on 28 April 2017, Mr Kwek continues to be a member of the Hong Leong Asia Share Option Scheme 2000 ("SOSC").
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
Hong Leong Asia Ltd. - 1,913,300 ordinary shares and 470,000 share options
# 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)
Please see attached Appendix A.
Present
Please see attached Appendix B.
(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 a listed company?
Yes
If Yes, Please provide details of prior experience
Mr Kwek Leng Peck is currently a director of the following Singapore listed companies:
1. City Developments Limited
2. Hong Leong Asia Ltd.
3. Hong Leong Finance Limited

Attachments