Asia Enterprises Hol

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Asia Enterprises : Re-designation Of Director

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07/12/2019 | 02:39 pm

CHANGE - ANNOUNCEMENT OF APPOINTMENT::RE-DESIGNATION OF DIRECTOR

Issuer & Securities

Issuer/ Manager

ASIA ENTERPRISES HOLDING LIMITED

Securities

ASIA ENTERPRISES HOLDING LTD - SG1S11926551 - A55

Stapled Security

No

Announcement Details

Announcement Title

Change - Announcement of Appointment

Date &Time of Broadcast

12- Jul-2019 20:24:10

Status

New

Announcement Sub Title

Re-designation of Director

Announcement Reference

SG190712OTHRT375

Submitted By (Co./ Ind. Name)

LEE YIH CHYI

Designation

MANAGING DIRECTOR

Description (Please provide a detailed description of the event in the box below)

Mr Teo Keng Thwan had been re-designated from Non-ExecutiveNon-Independent Director to Independent Director of the Company with effect from 7 July 2019.

Additional Details

Date Of Appointment

07/07/2019

Name Of Person

Teo Keng Thwan

Age

74

Country Of Principal Residence

Singapore

Date of last re-appointment (if applicable)

19/04/2018

The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)

The Nominating Committee with concurrence of the Board of Directors has approved Mr Teo's redesignation as an Independent Director. Mr Teo was considered independent pursuant to Guideline 2.1 of the Code of Corporate Governance 2018 and Listing Rule 210(5)(d) of the Listing Manual.

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, member of Audit and Nominating Committees

Professional qualifications

Bachelor of Arts (Hons), University of Singapore

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)

Nil

Working experience and occupation(s) during the past 10 years

1986 - 2014: Director of Asia Enterprises (Private) Limited

1989 - present: Director of Minh-Chieh Investment 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?

Yes

Shareholding Details

Direct Interest: 77,958

Deemed Interest: 16,536,408

Other Principal Commitments* Including Directorships#

*"Principal Commitments" has the same meaning as defined in the Code

  • 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)

Director of Asia Enterprises (Private Limited)

Present

Director of Minh-Chieh Investment Pte Ltd

  1. 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

  1. 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

  1. 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

  1. 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

  1. 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

  1. 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

  1. 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

  1. 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

  1. Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-
  1. any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or

No

  1. 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

  1. 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

  1. 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

  1. 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?

Yes

If Yes, Please provide details of prior experience

Mr Teo is currently the Director of the Company

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)

N.A.

Disclaimer

Asia Enterprises Holding Limited published this content on 12 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2019 12:39:06 UTC

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