Change - Announcement of Appointment::Appointment of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
UNITED OVERSEAS BANK LIMITED
Securities
UNITED OVERSEAS BANK LTD - SG1M31001969 - U11
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
27-Jul-2017 21:40:19
Status
New
Announcement Sub Title
Appointment of Independent Non-Executive Director
Announcement Reference
SG170727OTHRP9CO
Submitted By (Co./ Ind. Name)
Joyce Sia
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Wong Kan Seng as an Independent Non-Executive Director of United Overseas Bank Limited.

Additional Details

Date Of Appointment
27/07/2017
Name Of Person
Wong Kan Seng
Age
70
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Having determined that increasing the board size would be beneficial to the Bank, especially with a view to ensuring that there is a pipeline of critical skills following the retirement of directors, the Nominating Committee mapped the skill-sets and expertise currently available on the Board against an ideal framework, so as to identify the additional skills required*. Through a process of nomination, selection and assessment, the Nominating Committee recommended and the Board agreed that Mr Wong Kan Seng possessed the necessary experience and qualifications to be appointed an independent director of UOB.
Whether appointment is executive, and if so, the area of responsibility
The appointment is non-executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director
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
Singapore Deputy Prime Minister (Sep 2005 to May 2011)
Minister for Home Affairs (Jan 1994 to Oct 2010)
Co-ordinating Minister for National Security (Oct 2010 to May 2011)
Member of Parliament (Dec 1984 to Aug 2015)

Chairman/Director of Singbridge Holdings Pte Ltd, Singbridge International Singapore Pte Ltd (Oct 2011 to Jun 2015)
Chairman/Director of S Rajaratnam Endowment CLG
Advisory Council Chairman of Temasek Foundation Connects CLG
Chairman/Director of Ascendas-Singbridge Pte Ltd (Jul 2015 till now)
Chairman/Director of Sichuan Investment Holdings (May 2015 till now)

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)
Singbridge International Singapore Pte Ltd (Chairman)
Singbridge Holdings Pte. Ltd. (Chairman)
Singbridge Corporate Pte Ltd (Chairman)
Present
Ascendas-Singbridge Pte Ltd (Chairman)
Singapore-Sichuan Investment Holdings Pte Ltd (Chairman)
S Rajaratnam Endowment CLG Limited (Chairman)
(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 No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Mr Wong Kan Seng has wide exposure in both public and private sector, and is well-versed in both corporate governance and a director's fiduciary duties. As part of his induction, he will be briefed on SGX's requirements.