Change - Announcement of Appointment::APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
ASIAPHOS LIMITED
Securities
ASIAPHOS LIMITED - SG2G24997246 - 5WV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
30-Apr-2024 19:21:46
Status
New
Announcement Sub Title
APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Announcement Reference
SG240430OTHR6DZU
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Ong Eng Keong (Wang Rongkang) as Chief Executive Officer.

This announcement has been reviewed by the Company's Sponsor, Asian Corporate Advisors Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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 Mr. Liau H.K., at 160 Robinson Road, #21-05 SBF Center, Singapore 068914, Telephone number: 6221 0271.

Additional Details

Date Of Appointment
30/04/2024
Name Of Person
Ong Eng Keong (Wang Rongkang)
Age
46
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
30/04/2024
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Further to the appointment of Mr Ong Eng Keong (Wang Rongkang) ("Mr Ong") as the Executive Director of the Company on 22 March 2024 and retirement of Dr Ong Hian Eng on 30 April 2024, the Nominating Committee (the "NC") has recommended and the Board has approved the appointment of Mr Ong as Chief Executive Officer and a Member of the NC, after taking into consideration Mr Ong's qualifications, expertise and past experiences.

Dr Ong Hian Eng is the father of Mr Ong and a Member of the NC so he has abstained from deliberation and voting on the appointment of Mr Ong.
Whether appointment is executive, and if so, the area of responsibility
Executive.

Business development, driving profitability and pursuing sustainable growth of the company.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
i. Executive Director and Chief Executive Officer
ii. Member of Nominating Committee
Professional qualifications
BSc Economics (London School of Economics and Political Science)
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 Dr Ong Hian Eng, who was a Chief Executive Officer and Executive Director and substantial shareholder of the Company (Dr Ong will be retiring upon the conclusion of the AGM on 30 April 2024)
- Cousin of Mr Ong Eng Hock Simon, who is a Non-Executive Non-Independent Director of the Company and Ms Ong Bee Kuan Melissa, a substantial shareholder of the Company
- Brother-in-law of Jaime Chiew, Chief Risk Officer of the Company
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
March 2024 - Present
Executive Director, AsiaPhos Limited

March 2024 - Present
Executive Director, Norwest Global Trading Pte. Ltd.

February 2023 - Present
Executive Director, AP New Energy Pte. Ltd.

December 2019 - July 2023
Executive Chairman/Investor, Sleek EV Pte Ltd (formerly known as Geko Life Pte Ltd)

January 2017 - May 2019
Chief Executive Officer/Co-Founder, Bondlinc Private Limited

March 2010 - August 2016
Managing Director, Credit Trading, Jefferies international
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
Mr Ong holds 5,373,841 ordinary shares in the share capital of the Company
# 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)
Directorships
i. Hwa Hong Corporation Pte. Ltd.
ii. Bondlinc Private Limited
iii. Future Vision Pte. Ltd.
iv. Sleek EV Pte. Ltd.

Other Principal Commitments
Nil
Present
Directorships
i. AsiaPhos Limited
ii. Ong Chay Tong & Sons (Private) Limited
iii. FICA (Pte.) Ltd.
iv. AP New Energy Pte. Ltd.
v. Crushmetric Ecommerce (SEA) Pte. Ltd.
vi. Norwest Global Trading Pte. Ltd.

Other Principal Commitments
Management Committee Member, Chairman of Investment and Digitalisation Committee, Chinese Swimming Club
(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
2 Year prohibition order issued to Mr Ong on 9th May 2019, ended 9th May 2021, under Section 201(b) of the Securities and Futures Act (Cap 289). During that period, Mr Ong was prohibited from performing any regulated activity under the Securities and Futures Act (SFA) and providing any financial advisory service under the Financial Advisers Act (FAA). In addition, he was also prohibited from taking part in the management, acting as a director or becoming a substantial shareholder of any capital market services firm under the SFA and any financial advisory firm under the FAA.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Mr Ong is an Executive Director of AsiaPhos Limited and was a Director of Hwa Hong Corporation Limited.