Change - Announcement of Appointment::APPOINTMENT AS CHIEF FINANCIAL OFFICER

Issuer & Securities

Issuer/ Manager
CROESUS RETAIL ASSET MANAGEMENT PTE. LTD.
Securities
CROESUS RETAIL TRUST - SG2F73992297 - S6NU

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
02-Jun-2014 17:27:31
Status
New
Announcement Sub Title
APPOINTMENT AS CHIEF FINANCIAL OFFICER
Announcement Reference
SG140602OTHRC90M
Submitted By (Co./ Ind. Name)
Kim Yi Hwa
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
DBS Bank Ltd. and Citigroup Global Markets Singapore Pte. Ltd. are the joint global coordinators, issue managers, bookrunners and underwriters to the initial public offering (the "Joint Issue Manager"). The Joint Issue Managers assume no responsibility for the contents of this announcement.

Additional Details

Date Of Appointment
01/07/2014
Name Of Person
Tetsuo Ito
Age
38
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr Ito who currently is the Deputy Chief Financial Officer of Croesus Retail Asset Management Pte. Ltd. (as Trustee-Manager of Croesus Retail Trust (the "Trust")) (the "Trustee-Manager"), is a suitable successor to the position of Chief Financial Officer based on his competence, familiarity with the Trust and the Trustee-Manager's investment strategy, work experience and qualifications.
Whether appointment is executive, and if so, the area of responsibility
Executive. Mr. Ito will assume the role and responsibilities of the Chief Financial Officer of the Trustee-Manager and will be responsible for capital management, overseeing the implementation of the Trust's short-term and medium-term business plans and financial conditions, coordinating fund management activities and preparing consolidated accounts of the Trust.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
Mr. Ito has more than 16 years of financing, accounting and corporate audit experience.

Mr. Ito started his career at KPMG Japan in 1997 and performed financial audits and due diligence projects of major Japanese companies, mainly in the financial industry, as well as financial and corporate advisory services in various industries. During his career at KPMG Japan from 1997 to 2004, he dealt with a merger of two Japanese listed insurance companies having JPY6 trillion of total assets, as well as an acquisition of a Japanese insurance company by a US financial institution having JPY2 trillion of total assets. From 2004 to 2005, he was with KPMG LLP New York and provided various audit and accounting services to US and Japanese companies.

From 2006 to 2007, Mr Ito was a representative director of the Phoenix Accounting Group Inc and served as Deputy Chief Financial Officer for Croesus Japan Inc. from 2007 to 2012. In 2013, he was appointed as Deputy Chief Financial Officer of the Croesus Retail Asset Management Pte. Ltd. (as Trustee-Manager of the Croesus Retail Trust).
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)
Phoenix Accounting Group, Inc, Phoenix Accounting and Consultancy (HK) Limited, Ichigo Real Estate Investment Corporation, Kabushiki kaisha zali at hakone, Phoenix Accounting Singapore Pte. Ltd., La Terre International Pte. Ltd. and Golden Zephyr Investment Singapore Pte. Ltd.
Present
Croesus TMK Holding Pte. Ltd., Mangosteen TMK Holding Pte. Ltd. and Persimmon TMK Holding 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 a listed company?
No
If Yes, Please provide full details
Not Applicable

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