Change - Announcement of Appointment::Appointment of Non-Executive Director

Issuer & Securities

Issuer/ Manager
IREIT GLOBAL GROUP PTE. LTD.
Securities
IREIT GLOBAL - SG1AB8000006 - 8U7U
IREIT GLOBAL - SG1AB8000006 - UD1U
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
30-Nov-2022 18:08:46
Status
New
Announcement Sub Title
Appointment of Non-Executive Director
Announcement Reference
SG221130OTHRUU6M
Submitted By (Co./ Ind. Name)
Lee Wei Hsiung
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Executive Director

Additional Details

Date Of Appointment
01/12/2022
Name Of Person
Sherman Kwek Eik Tse
Age
46
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)
Mr Sherman Kwek Eik Tse (Mr Kwek) was nominated by City Developments Limited, a substantial unitholder of IREIT Global, to be appointed as a Non-Executive Director (NED) of the Company. The Nominating and Remuneration Committee (NRC) has reviewed the qualifications and experience of Mr Kwek and recommended his appointment. The Board of Directors, having considered the recommendation of the NRC, approved the appointment of Mr Kwek as a NED of the Company. The appointment has been approved by the Monetary Authority of Singapore.
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-Independent Non-Executive Director
Professional qualifications
Bachelor of Science in Business Administration, majoring in Finance and Marketing with a minor in Psychology from Boston University, U.S.A
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
Mr Kwek is the son of Mr Kwek Leng Beng, the Executive Chairman of City Developments Limited, a substantial unitholder of IREIT Global.
Conflict of interests (including any competing business)
City Developments Limited is also in the real estate industry and certain asset classes or geographies may overlap with IREIT. Should a conflict of interest be envisaged, Mr Kwek will abstain from discussion and not vote in connection with such potential transactions.
Working experience and occupation(s) during the past 10 years
January 2018 to Present - Group Chief Executive Officer (CEO), City Developments Limited (CDL)

2016 to Present - Executive Chairman, CDL China Limited

August 2017 to December 2017 - CEO Designate, CDL

April 2016 to August 2017 - Deputy CEO, CDL

April 2014 to April 2016 - Chief Investment Officer, CDL

August 2010 to April 2016 - CEO, CDL China Limited

November 2008 to March 2015 - CEO, City e-Solutions Limited (now known as China Tian Yuan Healthcare Group Limited)
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)
Please refer to Annexure A
Present
Please refer to Annexure 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?
Yes
If Yes, Please provide full details
Mr Kwek was nominated by CDL to the board of a joint venture company, Chongqing Sincere Yuanchuang Industrial Co., Ltd. (JVCo). A bankruptcy claim was filed by Beijing Yi He Mercury Investment Co. Ltd against the JVCo in July 2021. The CDL Group had divested its interest in the JVCo in September 2021.
(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
Currently Executive Director of City Developments Limited, a company which is listed on Singapore Exchange.

Was a Director of HL Global Enterprises Limited (HLGE), a company listed on Singapore Exchange, from 21 September 2007 to 30 April 2014.

Attachments

Annexure A - Sherman.pdf
Total size =274K