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

Issuer & Securities

Issuer/ Manager
AVARGA LIMITED
Securities
AVARGA LIMITED - SG1K55001665 - U09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
15-Apr-2020 00:10:52
Status
New
Announcement Sub Title
Appointment of Chief Executive Officer of the Company
Announcement Reference
SG200415OTHR07G4
Submitted By (Co./ Ind. Name)
Tong Ian
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Tong Ian, who is currently the Executive Director of the Company with responsibility of operations and building materials distribution, as the Chief Executive Officer of the Company (the "CEO").

Additional Details

Date Of Appointment
01/06/2020
Name Of Person
Tong Ian
Age
32
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr Tong Ian is currently the Executive Director of the Company.

The Nominating Committee ("NC") had reviewed the qualifications and experience of Mr Tong Ian and recommended his appointment, as part of the Group's transformation and renewal exercise. The Board having deliberated on the NC's recommendation, concurred with the NC's recommendation and approved the appointment of Mr Tong Ian as the CEO.

Whether appointment is executive, and if so, the area of responsibility
The appointment is executive. Mr Tong Ian will be responsible for the overall management, operations and strategic direction of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer
Professional qualifications
Bachelor of Arts in Sociology from Trinity Western University and a Masters in Management from Sauder School of Business, University of British Columbia, Canada
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
Son of Mr Tong Kooi Ong (Executive Chairman and substantial shareholder)
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
Jul 2012 to Aug 2018 - Director of Taiga Building Products Ltd
Aug 2018 till present - Chairman of Taiga Building Products Ltd
Jan 2016 till present - Director of The Edge Media Group Pte Ltd
Apr 2016 till present - Director of The Edge Property Pte Ltd
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
Deemed interest in 2,800,000 ordinary shares of Avarga Limited held by Olivia Holdings Pte Ltd.
# 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)
1. Phileo Group Sdn Bhd
2. TKO Concepts Sdn Bhd
3. FASTrack Autosports Pte Ltd
4. TKO Concepts Pte Ltd
5. Archisen Pte Ltd
6. Kublai Canada Ltd
7. Icon Ventures Group Inc
Present
1. Phileo Group Pte Ltd
2. Phileo Capital Pte Ltd
3. Seed2tree.com Pte Ltd
4. The Edge Media Group Pte Ltd
5. The Edge Property Pte Ltd
6. Olivia Holdings Pte Ltd
7. Axio Developments Ltd
8. Phileo Group Holdings Ltd
9. Phileo Development Ltd
10. Taiga Building Products Ltd
11. Avarga Canada Limited
12. UPP Investments Luxembourg S.a.r.l.
13. Phileo Capital Ltd
14. 3Cs Investments Ltd
15. Genghis Investments Ltd
16. TGC Investments Ltd
17. Publiq Development Group Sdn Bhd
18. Potensi Laris Sdn Bhd
19. Old Skool Ventures Limited
20. 3C Med Sdn Bhd
21. 3C Dev Sdn Bhd
22. financialzoo Limited
(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
Mr Tong Ian is an existing Executive Director of the Company.
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)
Not applicable