Change - Announcement of Appointment::Appointment of Lai Hock Meng as Independent Director

Issuer & Securities

Issuer/ Manager
DEBAO PROPERTY DEVELOPMENT LTD.
Securities
DEBAO PROPERTY DEVELOPMENT LTD - SG1CH6000001 - BTF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
20-Jul-2021 22:36:30
Status
New
Announcement Sub Title
Appointment of Lai Hock Meng as Independent Director
Announcement Reference
SG210720OTHREVG3
Submitted By (Co./ Ind. Name)
Zhong Yuzhao
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Lai Hock Meng as Independent Director

Additional Details

Date Of Appointment
20/07/2021
Name Of Person
Lai Hock Meng
Age
65
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee, after evaluating Mr Lai Hock Meng's ("Mr Lai") qualification and work experience, has recommended the appointment of Mr Lai as an Independent Director of the Company. The Board of Directors has accepted the recommendation of the Nominating Committee and approved his appointment.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Audit Committee and a member of the Nominating Committee and Remuneration Committee.
Professional qualifications
Bachelor of Arts (Honours), University of Cambridge
Master of Arts, University of Cambridge
Chartered Financial Analyst
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
None
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
June 2017 to Present: Chairman, HML Consulting Group Ltd
February 2020 to July 2020: CEO and Executive Director, PureCircle Ltd
November 2017 to February 2020: Executive Director, Riverside Asia Partners Pte Ltd
May 2017 to May 2017: Chairman & Legal Representative, PureCircle (Jiangxi) Co., Ltd
July 2007 to October 2015: CEO and Executive Director, Success Dragon International Holdings Ltd (f.k.a. CY Foundation Group Ltd)
May 2015 to May 2017: CEO and Executive Director, EC World Asset Management Pte Ltd
October 2007 to July 2016: Chairman, HML Consulting Group Pte 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
# 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)
Directorships:
1. Huanghe Holdings Pte Ltd
2. Universal Joy Global Limited
3. PureCircle (Shanghai) Co., Ltd
4. Tee International Limited
5. Global Wellness Group Pte Ltd
6. Stamford Raffles Consultants Pte Ltd
7. Transcorp Holdings Limited
8. DCM Asia Pte Ltd
9. Riverside Asia Pacific Fund II Pte Ltd
10. Riverside Asia Partners Pte Ltd
11. Dragon Group International
12. PureCircle (Jiangxi) Co., Ltd.
13. JY Logistic Investment Pte Ltd
14. Richwin Investment Pte Ltd
15. Richport Investment Pte Ltd
16. Prorich Investment Pte Ltd
17. Magnasset Investment Pte Ltd
18. Fullwealth Investment Pte Ltd
19. EC World Asset Management Pte Ltd
20. CFM Holdings Limited
21. ASTI Holdings Limited
22. PureCircle Ltd
23. Dexin Steel Pte Ltd
24. Delong Holdings Ltd
Present
Directorships:
1. Champ Buyout III Pte Ltd
2. Char Yong (Dabu) Foundation Limited
3. HML Consulting Group Ltd
4. Playhood Pte Ltd
5. PT Dexin Steel Indonesia
6. Cosmic Capital Limited
7. SB Global Ventures Pte Ltd
8. Quanshan Capital Management Pte Ltd
9. Quanshan Investment & Development (Singapore) Pte Ltd
10. PICADS Sdn Bhd
11. Quanshan Tourism Development Pte Ltd
12. Champ Private Equity Pte Ltd
13. Champ Singapore HoldCo Pte Ltd
14. Champ IV Holdings Pte Ltd
15. PureCircle Ltd
16. Amaara Healthtec 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
Yes
If Yes, Please provide full details
Please refer to Appendix A for full details.
(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?
Yes
If Yes, Please provide full details
Mr Lai Hock Meng ("Mr Lai") received a warning letter from Monetary Authority of Singapore on 10 June 2015 regarding the contravention of Section 133 of the Securities and Futures Act, Chapter 289 of Singapore for failing to notify a listed corporation of a change in Mr Lai's interest in the securities of the corporation. This is due to an oversight. On 16 December 2009, Mr Lai was granted a share option for 500,000 shares in China Essence Group Ltd. where Mr Lai is an Independent Non-Executive Director. The option lapsed on 12 December 2014, and Mr Lai only discovered the change in his interest in the company on 21 April 2015. Mr Lai made immediate disclosure to the regulators on the same day when he discovered this oversight on his part.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
1. Delong Holdings Ltd
2. PureCircle Ltd
3. Advance SCT Limited
4. WesTech Electronics Ltd
5. Metax Engineering Corp Limited
6. ASTI Holdings Limited
7. Success Dragon International Holdings Ltd
8. CFM Holdings Limited
9. EC World Asset Management Pte Ltd
Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable)
Mr Lai Hock Meng has extensive experience as a director of listed companies. See above.

Attachments

APPENDIX A.pdf
Total size =96K