Change - Announcement of Appointment::APPOINTMENT OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
SERIAL SYSTEM LTD
Securities
SERIAL SYSTEM LTD - SG1E36851343 - S69
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Mar-2017 21:08:01
Status
New
Announcement Sub Title
APPOINTMENT OF INDEPENDENT DIRECTOR
Announcement Reference
SG170328OTHR16QQ
Submitted By (Co./ Ind. Name)
Wui Heck Koon
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Please refer to attachment.

Additional Details

Date Of Appointment
28/03/2017
Name Of Person
Ng Cher Yan
Age
58
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
After extensive search and interviews with potential candidates, the Board considers the credentials and experience of Mr. Ng Cher Yan most suitable. With the recommendation of the Nominating Committee, the Board approved the appointment of Mr Ng Cher Yan as a Non-Executive and 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.)
Non-Executive and Independent Director, Nominating Committee Chairman, Audit Committee and Remuneration Committee Member
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
1990 to current date: Practising as a Chartered Accountant in Plus LLP (formerly known as C Y Ng & Co).
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
150,000 shares in Serial System Ltd
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)
Kinergy Ltd
Wanxiang International Ltd
Kian Ann Engineering Ltd
Seascape Surverys Pte Ltd
Mermaid MTN Pte Ltd
MTR-2 (Singapore) Pte Ltd
Bonython Trading Pte Ltd
Lancashire General Properties (Singapore) Pte Ltd
Present
Mermaid Maritime Public Co Ltd
Vicplas International Ltd
Moneymax Financial Services Ltd
Samko Timber Ltd
Bull Will Co Ltd
Mermaid Offshore Services Pte Ltd
MTR-1(Singapore) Pte Ltd
MTR-3 (Singapore) Pte Ltd
MTR-4 (Singapore) 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?
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 February 2017, a civil suit has been initiated by the Securities and Futures Investors Protection Centre of Taiwan ( SFIPC ) against Bull Will Co., Ltd ("Bull Will"), its directors, independent directors, supervisors, accounting supervisors and legal shareholder. Mr Ng Cher Yan is a Non-Executive Director of Bull Will (Refer to Serial System Ltd SGXNET announcement dated 23 February 2017).
(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?
Yes
If Yes, Please provide full details
On 7 July 2000, a Summon was issued against him as a nominee director of SFL-Boiler Installation Pte Ltd ("SFL") relating to a failure by SFL to file annual return within the requisite period. Resolved upon payment of a fine of SGD 1,200.
(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
Mr Ng Cher Yan is currently the Non-Executive and Independent Director of the following SGX-listed companies: Mermaid Maritime Public Co Ltd, Samko Timber Limited, Vicplas International Ltd and MoneyMax Financial Services Ltd. He is also a Non-Executive Director of Taiwan listed Bull Will Co., Ltd

Attachments

SSL Appointment of ID.pdf
Total size =24K