Change - Announcement of Appointment:: Re-designation from Independent Director to Non-Executive and Non-Independent Director

Issuer & Securities

Issuer/ Manager
MM2 ASIA LTD.
Securities
MM2 ASIA LTD. - SG1DC0000006 - 1B0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
16-Jul-2024 23:02:15
Status
New
Announcement Sub Title
Re-designation from Independent Director to Non-Executive and Non-Independent Director
Announcement Reference
SG240716OTHR9PNJ
Submitted By (Co./ Ind. Name)
Melvin Ang Wee Chye
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Re-designation of Mr Jack Chia Seng Hee ("Mr Chia") from Independent Director to Non-Executive and Non-Independent Director

Additional Details

Date Of Appointment
31/07/2024
Name Of Person
Jack Chia Seng Hee
Age
63
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
29/07/2022
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Pursuant to Listing Rule 210(5)(d)(iv) of the Listing Manual of Singapore Exchange Securities Trading Limited, Mr Chia will no longer be independent upon the conclusion of the Company's Annual General Meeting held on 31 July 2024 ("AGM 2024").

Upon recommendation of Nominating Committee, the Board has determined that Mr Chia possesses the experience, expertise, knowledge and skills to contribute towards the core competencies of the Board and has approved the re-designation of Mr Chia as Non-Executive and Non-Independent Director upon the conclusion of the AGM 2024. Mr Chia will relinquish his position as Chairman of Audit Committee but will remain as a member of Audit Committee.
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 Non-Independent Director and member of Audit Committee
Professional qualifications
Degree in Accountancy, National University of Singapore
Master of Arts in International Relations, International University of Japan
Fellow of the Institute of Singapore Chartered Accountants
General Manager Program, Harvard Business School
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
16 May 2024 to present
Jack Capital Pte. Ltd.
Director

1 December 2019 to present
CDW Holding Limited
Independent Director

29 October 2021 to present
CFM Holdings Limited
Lead Independent Director

27 July 2018 to present
Ying Li International Real Estate Limited
Lead Independent Director

15 May 2020 to present
Jieyu Business Consulting (Chongqing) Limited Liability Company
Legal Representative

26 June 2009 to 2 Oct 2021
China Shenshan Orchard Holdings Co. Ltd.
Independent Director

1 August 2018 to 22 November 2018
Lifebrandz Limited
Independent Director

1 April 2016 to 2 May 2018
AGV Group Limited
Independent Director, Non-Executive Chairman

1 May 2013 to 5 March 2021
Debao Property Development Limited
Independent Director

28 March 2008 to 16 June 2020
Combine Will International Holdings Limited
Independent Director

1 February 2008 to 16 June 2020
Shanghai Turbo Enterprises Limited
Independent Director, Non-Executive Chairman

31 December 2007 to 31 March 2015
Sunray Holdings Limited
Independent Director

27 June 2007 to 6 December 2016
China Hongcheng Holdings Limited
Independent Director
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
Direct Interest -171,400
# 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) Debao Property Development Limited
2) Combine Will International Holdings Limited
3) China Shenshan Orchard Holdings Co. Ltd.
Present
1) CDW Holding Limited
2) Ying Li International Real Estate Limited
3) CFM Holdings Limited
4) Jieyu Business Consulting (Chongqing) Limited Liability Company
5) Jack Capital 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?
Yes
If Yes, Please provide full details
On 16 February 2022, the SGX reprimanded Debao Property Development Limited for disclosure breaches of Listing Rules.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
1) CDW Holding Limited
2) Ying Li International Real Estate Limited
3) CFM Holdings Limited
4) China Hongcheng Holdings Limited
5) Sunray Holdings Limited
6) Shanghai Turbo Enterprises Limited
7) Combine Will International Holdings Limited
8) Guangzhao Industrial Forest Limited
9) Debao Property Development Limited
10) AGV Group Limited
11) Lifebrandz Limited
12) China Shenshan Orchard Holdings Co. Ltd.