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

Issuer & Securities

Issuer/ Manager
SDAI LIMITED
Securities
SDAI LIMITED - SG2D45972171 - 5TI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
24-May-2024 23:05:11
Status
New
Announcement Sub Title
Appointment of Chief Executive Officer
Announcement Reference
SG240524OTHRML0K
Submitted By (Co./ Ind. Name)
Tan Swee Gek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Chief Executive Officer of SDAI Limited (the "Company").

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST 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 Ms Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone: (65) 6636 4201.

Additional Details

Date Of Appointment
25/05/2024
Name Of Person
Yap Koon Loong
Age
55
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 Yap Koon Loong ("Mr Yap") has been the Corporate Advisor of the Company since 1 July 2023.

The Management and the Nominating Committee of the Company, as well as the Board of Directors of the Company (the "Board"), having reviewed and considered the qualifications, work experience and suitability of Mr Yap, are of the view that Mr Yap possesses the requisite experience and capabilities to assume the responsibilities as the Chief Executive Officer of the Company.

Accordingly, the Management and the Nominating Committee have recommended, and the Board has approved, the appointment of Mr Yap as the Chief Executive Officer of the Company.
Whether appointment is executive, and if so, the area of responsibility
The appointment is executive. Upon his appointment as Chief Executive Officer of the Company, Mr Yap will be responsible for the Group's strategic direction, corporate development and planning, investor relations as well as the oversight of the Group's finance function.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer
Professional qualifications
Victoria University of Technology, Australia
1988
Master of Business in Professional Accounting

Victoria University of Technology, Australia
1988
Graduate Diploma in Professional Accounting
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 Yap is a director of OOWAY Technology Pte. Ltd. ("OOWAY Technology"), an associated company of the Group. Mdm Hao Dongting (the Executive Chairperson and a controlling shareholder of the Company) is also a director of OOWAY Technology and Mr James Beeland Rogers, Jr. (the Non-Executive and Non-Independent Director of the Company) is a co-founder and Chief Strategy Architect of OOWAY Technology and its subsidiaries.

Save as disclosed above, Mr Yap is not related to any existing director, executive officer, the Company and/or its substantial shareholders or any of the Company's principal subsidiaries.
Conflict of interests (including any competing business)
Mr Yap is a director of OOWAY Technology, an associated company of the Group, and a director of Asian Accounts Receivable Exchange Pte. Ltd. ("AREX"), a company which has entered into a loan agreement with the Company pursuant to which AREX has granted an interest-free loan in the principal amount of S$4,000,000 ("Loan") to the Company. Mr Yap will abstain from the deliberations and decision-making with respect to all matters relating to OOWAY Technology and the Loan in his capacity as the Chief Executive Officer of the Company. Mr Yap will also abstain from the deliberations, decision-making and voting of the respective boards of OOWAY Technology and AREX with respect to all matters relating to the Group and the Loan in his capacity as a director of OOWAY Technology and AREX respectively.
Working experience and occupation(s) during the past 10 years
SDAI Limited (Corporate Advisor)
July 2023 - Present

OOWAY Technology Pte. Ltd. (Chief Financial Officer)
July 2020 - June 2023

Chongqing Yuhai Precision Engineering Co., Ltd. (Chief Financial Officer)
June 2019 - June 2020

Crosspoint Telecom Pte. Ltd. (Chief Financial Officer)
October 2016 - June 2018

Astaka Holdings Limited (Finance Director)
April 2015 - October 2016

Blackco Group Pte. Ltd. (Chief Financial Officer)
August 2014 - March 2015
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)
Asian Unicorn Club Pte. Ltd. (struck off)
Lighthouse Capital Pte. Ltd. (struck off)
OEL (Holdings) Limited
Present
Group Companies:
3L Asia Capital Pte. Ltd.
Beef Up Global Pte. Ltd.
KC Medical Supplies Pte. Ltd.
KC Technologies Pte. Ltd.

Other Companies:
Musangking Auto Pte. Ltd.
Asian Accounts Receivable Exchange Pte. Ltd.
Cigar Master International Pte. Ltd.
OOLife Holding Pte. Ltd.
OOWAY Technology Pte. Ltd.
Chongqing Yuhai Precision Manufacturing (Singapore) Co., Pte. Ltd.
FFC Alliance 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?
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
OEL (Holdings) Limited (Independent Non-Executive Director)
February 2020 - May 2023
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 as this is not an appointment of Director.