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

Issuer & Securities

Issuer/ Manager
NET PACIFIC FINANCIAL HOLDINGS LIMITED
Securities
NET PACIFIC FIN HLDGS LTD - SG2B83959223 - 5QY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Nov-2023 20:35:50
Status
New
Announcement Sub Title
Announcement of Appointment of Independent Non-Executive Director
Announcement Reference
SG231101OTHRVAGR
Submitted By (Co./ Ind. Name)
Ong Chor Wei @ Alan Ong
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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. Foo Jien Jieng, 16 Collyer Quay #10-00 Collyer Quay Centre Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Date Of Appointment
08/11/2023
Name Of Person
Chak Chi Shing
Age
42
Country Of Principal Residence
Hong Kong
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The Board of Directors has considered, reviewed and assessed the qualifications, expertise, working experience, suitability and independence of Mr Chak Chi Shing ("Mr Chak"), as well as the recommendation of the Nominating Committee and as such, approved Mr Chak's appointment as an Independent Non-Executive Director of the Company.

The Board of Directors is satisfied that Mr Chak has the requisite experience and capability to assume the responsibility of an Independent Non-Executive Director of the Company. Mr Chak will also be appointed as the Chairman of the Risk Management Committee, and a member of the Audit Committee and Remuneration Committee of the Company.

The Board of Directors considers Mr Chak to be independent for the purposes of Rule 704(7) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive Director
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, Chairman of the Risk Management Committee and a Member of the Audit Committee and Remuneration Committee
Professional qualifications
Certified Public Accountant of the Hong Kong Institute of Certified Public Accountants

Full Membership of CPA Australia

Bachelor of Commerce - Accounting and Finance, Curtin University of Technology
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
Nil
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
Current
- Tokyo Chuo Auction Holdings Limited, Chief Financial Officer and Company Secretary (September 2019 - Present)

Past
- China Shenghai Food Holdings Company Limited, Executive Director (August 2018 - September 2019)
- iRregular Corporate Service Limited, Financial Controller (February 2016 - July 2018)
- Hao Wen Holdings Limited, Financial Controller (April 2014 - February 2016)
- HLB Hodgson Impey Cheng Limited, Assistant Manager (April 2008 - February 2013)
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. Link-Asia International MedTech Group Limited

2. China Shenghai Food Holdings Company Limited

3. Success Legend Consultants Limited
Present
1. Founder Holding Limited

2. Sunyes Electronic Manufacturing (Zhejiang) Holding Co., Limited

3. SDM Group Holdings Limited

4. Winwei (China) Co., Limited

5. CGU Enterprises Limited

6. Amigo Consultants Limited

7. Yuan Mei (Hong Kong) Apparel Company Limited
(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?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
Mr Chak will be attending the mandatory training on the roles and responsibilities as a director of Net Pacific Financial Holdings Limited as prescribed by the Exchange within one (1) year from date of appointment.