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

Issuer & Securities

Issuer/ Manager
PSL HOLDINGS LIMITED
Securities
PSL HOLDINGS LTD - SG1CC8000000 - BLL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Jun-2017 18:39:39
Status
New
Announcement Sub Title
ANNOUNCEMENT OF APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Announcement Reference
SG170601OTHRCFIO
Submitted By (Co./ Ind. Name)
Tan Chee Tong
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
ANNOUNCEMENT OF APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Additional Details

Date Of Appointment
01/06/2017
Name Of Person
TAN CHEANG SHIONG
Age
39
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board of Directors, having considered the recommendation of the Nominating Committee and having reviewed and considered the qualifications, work experience and suitability of Mr Tan Cheang Shiong, is satisfied that Mr Tan Cheang Shiong possesses the requisite qualifications and capabilities for the position of Chief Executive Officer ("CEO") of the Company.

Accordingly, the Board has approved the appointment of Mr Tan Cheang Shiong as CEO of the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive.

His responsibilities include:

a) serve the Company in the capacity of CEO of the Company with such executive and management responsibilities and duties with regard to the operations of the Group and the development, optimizing of existing business units, diversification and expansion of its business;

b) implementing policies and translating them into operational plans and day-to-day directives and to exercise such powers the Board shall from time to time;

c) keeping the operations of the Group under constant review and presenting to the Board periodic statements, accounts, reports and statistics showing the progress and performance of the Group;

d) making plans and developing business strategies for the future development and growth of the Group;

e) formulating and implementing changes in the Group's businesses and in the allocation of the responsibilities that may be required to provide for growth and changes on activities, the business environment and personnel;

f) exercise his best endeavours to procure the Company's compliance with the listing rules and regulations of the SGX-ST and the Singapore Take-Over Laws and Regulations, the memorandum of association and bye-laws of the Company, and all other applicable law, rules, regulations, guidelines and practice notes which are binding on or applicable to the Group or the Executive including, without prejudice to the generality of the foregoing, the Company's listing undertaking to the SGX-ST and the Executive's undertaking to the SGX-ST;

g) at all times keep the Board promptly and fully informed of all matters relating to or in connection with the performance and exercise of his duties and powers under his Agreement; and

h) do all in his power to promote, develop and extend the business of the Company and at all times and in all respects conform to and comply with the proper and reasonable directions and regulations of the Board.

Following Mr Tan Cheang Shiong's appointment as the Chief Executive Officer, Mr Tan Cheang Shiong shall also continue in his duties as the Chief Financial Officer of the Group and assist with the transition until the Company appoints a financial controller.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
CHIEF EXECUTIVE OFFICER
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
December 2016 - Present
Chief Financial Officer
PSL Holdings Limited

September 2016 - December 2016
Regional Controller (Southeast Asia)
ADM Asia Pacific Trading Pte Ltd

March 2011 - August 2016
Chief Financial Officer
Geo Energy Resources Limited

July 2007 - February 2011
Assistant Controller
Honeywell

June 2006 - June 2007
Finance Manager
Sunningdale Tech 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
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)
Geo Coal International Pte. Ltd. (February 2016 - August 2016)

Borneo International Resources Pte. Ltd.
(February 2016 - August 2016)
Present
KCL Logistics Pte. Ltd.
(since January 2017)

PSL Maritime Strategic Pte. Ltd.
(since January 2017)

PSL Metal Pte. Ltd.
(since January 2017)

TSL Transport & Engineering Pte. Ltd.
(since January 2017)

PSL Maritime Logistics Holdings Pte. Ltd.
(since April 2017)

PSL Construction Logistics Holdings Pte. Ltd.
(since April 2017)
(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