Change - Announcement of Cessation::Cessation as Non-Executive and Non-Independent Director - Ong Bee Pheng

Issuer & Securities

Issuer/ Manager
ASIAPHOS LIMITED W200323 - SG5DS5000008 - 1C9W
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-May-2019 18:15:50
Announcement Sub Title
Cessation as Non-Executive and Non-Independent Director - Ong Bee Pheng
Announcement Reference
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Company Secretary
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 ("Sponsor"), Asian Corporate Advisors Pte. Ltd., for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Company's Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made. The Sponsor is satisfied, based on the enquiries made, that there are no reasons for the cessation other than those stated in this announcement.

This announcement has not been examined or approved by the Exchange and the Exchange 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 Mr. Liau H.K..
Telephone number: 6221 0271

Additional Details

Name Of Person
Ong Bee Pheng
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
In view that the Group has substantially reduced its operations, Ms Ong Bee Pheng has decided to resign to enable the Company to save on directors' fees which will benefit stakeholders in the long run. The board is confident that the reduced board size will be adequate to meet the current needs of the Group.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Non-Independent Director
Role and responsibilities
Assumed the roles as Non-Executive and Non-Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Ms Ong Bee Pheng is:
(i) Daughter of Dr Ong Hian Eng, Chief Executive Officer and Executive Director
(ii) Cousin of Ong Eng Hock Simon, an Executive Director, Ong Eng Siew Raymond, a Non-Executive and Non-Independent Director and Ong Bee Kuan Melissa, Human Resource and Administration Manager
(iii) Spouse of Jaime Chiew Chi Loong, Chief Risk Officer
Shareholding interest in the listed issuer and its subsidiaries?
Shareholding Details
Direct Interest
(i) 33,084,041 ordinary shares
(ii) 3,676,004 warrants
Past (for the last 5 years)
1) Eastcomm Pte. Ltd.
2) Fica Holdings Pte. Ltd.
1) Fica (Pte.) Ltd.