Change - Announcement of Appointment::APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
AXCELASIA INC.
Securities
AXCELASIA INC. - MYA012218006 - 42U
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Jun-2019 17:32:49
Status
New
Announcement Sub Title
APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER
Announcement Reference
SG190628OTHRQNW1
Submitted By (Co./ Ind. Name)
Dato' Tang Swee Guan
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") in accordance with Rules 226(2)(b) and 753(2) 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. 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 Tan Pei Woon, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and Email: sponsorship@ppcf.com.sg).

Additional Details

Date Of Appointment
01/07/2019
Name Of Person
Ranjit Singh a/l Taram Singh
Age
52
Country Of Principal Residence
Malaysia
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nomination Committee ("NC"), as part of the succession plan for the Group developed at the end of 2017, identified Ranjit Singh a/l Taram Singh as having the requisite qualification and work experience for the position of Chief Executive Officer ("CEO"), and considers him suitable to succeed Dato Peter Tang Swee Guan, who is relinquishing his role as CEO to become the Deputy Executive Chairman. On recommendation by the NC, the Board approved the appointment of Ranjit Singh as Group CEO.
Whether appointment is executive, and if so, the area of responsibility
Executive

To oversee and manage the business of Axcelasia Inc. and its subsidiaries and lead the management in setting strategies, objectives and mission for the day-to-day operations of the Group.

Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Group Chief Executive Officer
Professional qualifications
MBA from Heriot-Watt University, UK,
Certified Public Accountant of the Malaysian Institute of Certified Public Accountant,
Certified Practising Accountant at CPA Australia,
Certified Internal Auditor of The Institute of Internal Auditors Inc. USA,
Chartered Member of the Institute of Internal Auditors Malaysia.
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)
No
Working experience and occupation(s) during the past 10 years
21 August 2015 to date: Executive Director, Axcelasia Inc. & Axcelasia Columbus Sdn Bhd

April 2006 to August 2015: Managing Director, Axcelasia Columbus Sdn Bhd
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
An aggregate of 41,118,960 (25.65%) shares in the Company.
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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)
NIL
Present
Directorships:
Axcelasia Columbus Sdn Bhd: Group company
Axcelasia Softnex Sdn Bhd: Group company
Axcelasia HR Consulting Sdn Bhd: Group company
Axcelasia Singapore Pte. Ltd.: Group company
Axcelasia Vietnam Co. Ltd.: Group company
Axcelasia Laos Co. Ltd.: Group company
Audex Governance Sdn Bhd: Group company
Institute of Internal Auditors Malaysia: non-for-profit
The Institute of Internal Auditors Inc. USA: non-for-profit
Rainmaker Consulting Sdn Bhd*
Noble Entity (M) Sdn Bhd*
Rainmaker Realty Sdn Bhd*
RS Josan Group Sdn Bhd*
Ranjit & Co: Dormant and to maintain audit licence

Other Principal Commitments:
Nil

(* Property Investment Company for collections of rental only.)
(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
N.A. This does not relate to an appointment of Director.
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.