Change - Announcement of Appointment::Appointment of Director: David Ong Kim Huat

Issuer & Securities

Issuer/ Manager
HIAP SENG INDUSTRIES LIMITED
Securities
HIAP SENG INDUSTRIES LIMITED - SGXE37533077 - 1L2
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
16-Feb-2024 19:05:06
Status
New
Announcement Sub Title
Appointment of Director: David Ong Kim Huat
Announcement Reference
SG240216OTHRP7LA
Submitted By (Co./ Ind. Name)
Khua Kian Hua
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Pursuant to the completion of the Proposed Subscription, the Proposed Grant of Options, the Proposed Debt Restructuring and the Proposed Transfer Listing (each defined in the Circular to Shareholders issued by Hiap Seng Engineering Ltd (Judicial Managers appointed)("HSEL") on 6 November 2023) on 16 February 2024, required information relating to the appointment of Mr David Ong Kim Huat ("Mr David Ong") as a director, under Rule 704(7) of the Listing Manual of the SGX-ST, is set out below.

Additional Details

Date Of Appointment
16/02/2024
Name Of Person
David Ong Kim Huat
Age
63
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)
In connection with, among others, the Proposed Subscription, the Proposed Grant of Options, the Proposed Debt Restructuring and the Proposed Transfer Listing, the Judicial Managers and the Executive Director of HSEL, had considered, among others, the recommendation of Vibrant Equities Pte. Ltd. and Tian Yuan and the working experience, qualifications and competencies of Mr.David Ong which meet the requirements of the Group, and are of the view that he meets the stipulated requirements for a director of a listed entity on the SGX, has the requisite experience, expertise, knowledge and skills to contribute positively to the Group, and is suitable for appointment as Independent Director of the Company.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Remuneration Committee, Member of the Audit Committee and Member of the Nominating Committee
Professional qualifications
Bachelor of Science in Business Administration, University of Oregon
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
NIL
Conflict of interests (including any competing business)
NIL
Working experience and occupation(s) during the past 10 years
1998 to Present: Managing Director, RedDot Media Inc Pte Ltd

2011 to 2016: Member of Parliament

2011 to 2016: Chairman, Jurong Town Council

2015 to 2016: Chairman, Government Parliamentary Committee, Ministry of Culture, Community and Youth

2022 to Present: Chairman and Independent Director, Ellipsiz Ltd

2022 to Present: Non-Executive Independent Director, New Toyo
International Holdings 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?
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)
2010 to 2022: Board Member, National Trades Union Congress, U-Care Fund Board of Trustees

January to September 2020: Non-Executive Independent Director, Hon Corporation Limited

May to June 2021: Non-Executive Independent Director, MC Payment Limited (now known as OxPay Financial Limited)
Present
Public Listed Companies:

2022 to Present: Chairman and Independent Director, Ellipsiz Ltd

2022 to Present: Non-Executive Independent Director, New Toyo International Holdings 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
Director of the following Singapore listed entities:
1. Ellipsiz Ltd

2.New Toyo International Holdings Ltd

3.MC Payment Limited (now known as OxPay Financial
Limited)