Change - Announcement of Appointment::Announcement of Appointment of Chief Executive Officer - Designate

Issuer & Securities

Issuer/ Manager
FRASERS CENTREPOINT ASSET MANAGEMENT (COMMERCIAL) LTD.
Securities
FRASERS COMMERCIAL TRUST - SG2C81967185 - ND8U
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
08-Nov-2016 17:42:25
Status
New
Announcement Sub Title
Announcement of Appointment of Chief Executive Officer - Designate
Announcement Reference
SG161108OTHRY6NY
Submitted By (Co./ Ind. Name)
Catherine Yeo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Chief Executive Officer - Designate

Additional Details

Date Of Appointment
08/11/2016
Name Of Person
LAM JUCK NGAI (JACK LAM)
Age
47
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Frasers Centrepoint Asset Management (Commercial) Ltd. ("FCAMC") had as part of succession planning identified a successor for Mr Low Chee Wah, who will be stepping down as Chief Executive Officer of FCAMC and assuming wider responsibilities within the Frasers Centrepoint Limited group.

The Nominating and Remuneration Committee (the "NRC") of FCAMC has reviewed the qualifications and work experience of Mr Lam Juck Ngai. Taking into account his qualifications and work experience, the NRC has recommended to the Board Mr Lam's appointment as the Chief Executive Officer of FCAMC. The Board has accepted the recommendation of the NRC and approved his appointment as Chief Executive Officer - Designate prior to him assuming the role of Chief Executive Officer on 1 January 2017.

The NRC and the Board have assessed Mr Lam's previous employment and experience to be highly relevant and suitable for the role. Mr Lam has around 23 years of experience in the Singapore and regional property markets spanning the areas of investment, asset management, advisory and research, and has held various senior management appointments. He has also been involved in REIT management since the industry's inception in Singapore in 2002.
Whether appointment is executive, and if so, the area of responsibility
Executive.

Work closely with the Board to determine the overall business and investment strategy of Frasers Commercial Trust ("FCOT").

General management of FCOT, including managing its finances, resources and public relations; as well as oversee the management of the assets and investments of FCOT.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer Designate; Mr Lam Juck Ngai's appointment as Chief Executive Officer will take effect from 1 January 2017.
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
From Jul 2011: General Manager (Investment & Business Development) in the commercial property division of Frasers Centrepoint Limited

Oct 2009 to Jun 2011: Deputy CEO and Head, Investment, Frasers Centrepoint Asset Management Ltd

Mar 2006 to Sep 2009: Senior Investment Manager, Frasers Centrepoint Asset Management Ltd
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# 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)
Gemshine Investments (S) Pte. Ltd. Alternate Director

Hektar Asset Management Sdn Bhd Alternate Director
Present
Nil
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Not Applicable

Attachments

FCOT_Media_Release_Succession_Planning.pdf
Total size =140K