Change - Announcement of Appointment::Appointment of Executive Director, Group Chief Executive Officer

Issuer & Securities

Issuer/ Manager
SHEN YAO HOLDINGS LIMITED
Securities
SHEN YAO HOLDINGS LIMITED - SGXE51426224 - A78
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
22-Sep-2023 23:53:21
Status
New
Announcement Sub Title
Appointment of Executive Director, Group Chief Executive Officer
Announcement Reference
SG230922OTHR48T5
Submitted By (Co./ Ind. Name)
Yao Liang
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Sheila Ong, Registered Professional, W Capital Markets Pte Ltd, 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3543.

Additional Details

Date Of Appointment
05/10/2023
Name Of Person
Pang Kee Chai, Jeffrey
Age
46
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
28/10/2022
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Prior to his appointment as the Executive Director and Group Chief Executive Officer, Mr Pang is a Non-Executive, Independent Director, Chairman of the Audit Committee and a member of the Nominating Committee, Remuneration Committee and Shen Yao Performance Award Committee of the Company.

Mr Pang served on the Board of the Company since 26 August 2020 and is familiar with the Group structure, business and industry in which the Group operates in. The Board notes that Mr. Pang has contributed significantly over the past three years, serving on the Board of the Company. Having considered Mr Pang's qualifications, experience, character and capabilities, the Board is satisfied that Mr Pang has the requisite qualifications and experience to assume the duties and responsibilities as Group Chief Executive Officer of the Company.

Following Mr Pang's appointment as the Group Chief Executive Officer, he will cease his roles in the Audit Committee, Nominating Committee, Remuneration Committee and Shen Yao Performance Award Committee of the Company. The Company notes the requirement of Rule 704(7) of the Catalist Rules and is currently working to appoint Independent Directors to fill the vacancies in its Audit Committee.
Whether appointment is executive, and if so, the area of responsibility
The appointment is Group Chief Executive Officer, responsible for the Group's operations; formulating, planning and executing the Company's corporate strategies; charting the growth of the Group through identification of merger and acquisition opportunities.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director, Group Chief Executive Officer
Professional qualifications
- Fellow of the Association of Chartered Certified Accountants
- Member of the Institute of Singapore Chartered Accountants
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
May 2022 till September 2023
Vice Chairman and Executive Director of CapAllianz Holdings Limited (formerly known as CWX Global Limited)

May 2016 till April 2022
Chief Executive Officer and Executive Director of CWX Global Limited (currently known as CapAllianz Holdings Ltd)

July 2011 till May 2016
Chief Financial Officer/Financial Controller of Loyz Energy Limited (currently known as CapAllianz 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)
1) ADTIC Pte. Ltd. (Struck off)
2) Amaira Shipping Company Limited
3) Asian Skies Pte. Ltd.
4) Coastal Trade Limited
5) FIT Global Pte. Ltd. (In Liquidation)
6) Harvison Holdings Limited
7) Hope Medical Asia Pte. Ltd.
8) Immense Wellness Pte. Ltd.
9) Loyz Oil Philippines Pte. Ltd. (Struck off)
10) Trevaskis Limited
11) Ylato Shipping Company Limited
12) CapAllianz Holdings Limited (formerly known as CWX Global Limited)*
13) CWX Investments Pte.Ltd.*
14) Loyz Oil Pte. Ltd.*
15) Loyz Oil Thailand Pte. Ltd.*
16) Preferred Mart Pte Ltd

Note:
* Mr Pang has served notice of resignation as Director of these companies and is currently pending the cessation to be effective.
Present
JP Consulting Services 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
Mr Pang Kee Chai was the Vice Chairman and Executive Director of CapAllianz Holdings Limited, listed on Catalist Board of SGX-ST. He also served as an Independent Director of the Company since August 2020.