Change - Announcement of Appointment::Appointment of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
ARA ASSET MANAGEMENT (FORTUNE) LIMITED
Securities
FORTUNE REAL ESTATE INV TRUST - SG1O33912138 - F25U
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
02-Feb-2015 20:00:20
Status
New
Announcement Sub Title
Appointment of Chief Executive Officer
Announcement Reference
SG150202OTHRJDJ9
Submitted By (Co./ Ind. Name)
Tan San-Ju
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Chief Executive Officer.

Additional Details

Date Of Appointment
02-Feb-2015
Name Of Person
Chiu Yu, Justina
Age
34
Country Of Principal Residence
Hong Kong
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
As part of the Manager's succession planning, the Board had reviewed and concluded that Ms Chiu Yu, Justina, possesses the requisite qualifications and experience to assume the position of Chief Executive Officer ("CEO") of the Manager. Ms Chiu is currently the Deputy CEO and Executive Director of the Manager.
Whether appointment is executive, and if so, the area of responsibility
The appointment is executive. Ms Chiu is responsible for the overall performance and direction of Fortune REIT.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Daughter of Dr Chiu Kwok Hung, Justin, Chairman & Non-Executive Director of the Manager.
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
Ms Chiu was employed by the Manager from 2008 and has been an Executive Director since 2010. She is also the Deputy Chief Executive Officer of the Manager, and the Chairman of each of the Disclosures Committee and Designated Committee. She is responsible for the overall performance and direction of Fortune REIT. Prior to her appointment as Deputy Chief Executive Officer of the Manager, she was the Chief Operating Officer of the Manager overseeing strategic planning, investment, asset management and investor relations.

Ms Chiu was previously with the Manager from 2003 to 2006, where she was involved in various functions of the Manager including finance, research and investment, asset management and investor relations.
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# 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 Appendix A
Present
Please see Appendix A
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
Yes
If Yes, Please provide details of prior experience
See above.

Attachments

Appendix A-Justina Chiu.pdf
Total size =30K