Change - Announcement of Appointment::APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
OXPAY FINANCIAL LIMITED
Securities
OXPAY FINANCIAL LIMITED - SGXE15822534 - TVV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-Jan-2024 22:57:17
Status
New
Announcement Sub Title
APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER
Announcement Reference
SG240131OTHRAU12
Submitted By (Co./ Ind. Name)
Ching Chiat Kwong
Designation
Non-Executive Non-Independent Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Executive Director and Chief Executive Officer of OxPay Financial Limited (the "Company", and together with its subsidiaries, the "Group") - Yick Li Tsin

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by 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 Ms. Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Date Of Appointment
31/01/2024
Name Of Person
Yick Li Tsin
Age
49
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)
On 9 November 2023, Mr Yick Li Tsin ("Mr Yick") was appointed as the chief operating officer of OxPay SG Pte. Ltd., a wholly-owned subsidiary of the Company, and as an Executive Officer of the Group. The board of directors (the "Board"), having considered the recommendation of the Nominating Committee and having reviewed and considered the performance and contributions of Mr Yick to the Group since his appointment as well his academic and professional qualifications, expertise, work experience and suitability, is of the view that Mr Yick has the requisite experience and capability to assume the duties and responsibilities as Executive Director and Chief Executive Officer of the Company. Accordingly, the Board has approved the appointment of Mr Yick as Executive Director and Chief Executive Officer of the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive. Mr Yick will be responsible for the overall strategic direction and development of the Group as well as for overseeing its marketing efforts and technical operations.

In addition, Mr Yick will assume the responsibilities of the chief executive officer of OxPay SG Pte. Ltd. as the last day of service for the current chief executive officer is 30 January 2024. Mr Yick's appointment as director and chief executive officer of OxPay SG Pte. Ltd. is pending the approval of the Monetary Authority of Singapore.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Professional qualifications
National University of Singapore - Bachelor of Business Administration

Institute of Systems Science, National University of Singapore - Postgraduate Diploma in Systems Analysis
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
2023 - Present
Chief Operating Officer, OxPay SG Pte. Ltd.

2022 - Present
Shareholder/Commissioner, PT Diners Payment Indonesia

2019 - 2022
Chief Executive Officer, Candypay Holdings Pte. Ltd.
President Director, PT Candypay Indonesia

2017 - 2019
Director, Business Development, Chong Sing Holdings Fintech Group Limited

2003 - Present
Director/ Business Owner of entities in Singapore, Hong Kong and Indonesia primarily involved in financial technology, trade and retail and resources

2001 - 2003
Consultant, Korvac Pte. Ltd.

1999 - 2001
Consultant, Hewlett Packard
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)
Shenzhou Anfu Singapore Technology Pte. Ltd.
Solid Victory Pte. Ltd. (struck off)
Xin Holdings Pte. Ltd. (struck off)
Present
Asia Lumina Capital Pte. Ltd.
Concept One Communications LLP (Partner/Manager)
Ffastpay Pte. Ltd.
OxPay Global Venture Pte. Ltd.
OxPay Investment Pte. Ltd.
OxPay Solutions 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?
Yes
If Yes, Please provide full details
In August 2016, there was a bankruptcy petition filed against Mr Yick for a debt amount of S$57,071 (the "Petition"). The Petition was withdrawn in February 2017.
(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?
Yes
If Yes, Please provide full details
In April 2016, there was a writ of summons issued against Mr Yick for an amount of S$55,000 (the "Writ"). The matter was concluded in June 2016 and the claim was satisfied in March 2017.

The individual who issued the Writ also filed the Petition against Mr Yick , as described in paragraph (a) above.
(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?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
Pursuant to Rule 406(3)(a) of the Catalist Rules, the Company will arrange for Mr Yick to attend the relevant training on the roles and responsibilities of a director of a listed issuer in Singapore as prescribed by the Exchange under Practice Note 4D of the Catalist Rules within one year from the date of his appointment to the Board.
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