General Announcement
Please kindly refer to the information below.
Date Of Appointment
01/02/2024
Name Of Person
Seah Hai Yang
Age
62
Country Of Principal Residence
Singapore
The Board’s comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The nomination of Mr Seah Hai Yang (“Mr Seah”) as a non-executive independent Director was duly reviewed by the Company’s Nominating Committee (“NC”) and the Board of Directors (the “Board”). Taking guidelines from the revised Corporate Governance Code 2018 and Listing Manual of the Singapore Exchange Securities Trading Limited, the NC is of the view, and concurred by the Board, that Mr Seah is considered a non-executive independent Director. The Board is also of the view that Mr Seah’s qualifications and work experience will enhance the core competencies of the Board.
Whether appointment is executive, and if so, the area of responsibility
Non-executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Independent Director and member of the Audit Committee, Nominating Committee, and Remuneration Committee
Professional qualifications
1. Bachelor’s Degree in Accountancy, NUS
2. Fellow, Chartered Accountant Singapore (FCA) – ISCA
3. Member, Senior Accredited Director, Singapore Institute of Directors
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
From 2003 to present – Shareholder and Director, Van Der Broeck’s Consultancy Pte Ltd.
From 2021 to present – Shareholder and Director, Raintree Corporate Services Pte Ltd (“Raintree”)
From 2017 to 2019 – Executive Director and Head of Corporate Advisory, RHT Corporate Advisory Pte Ltd
From 2013 to 2017 – Chief Financial Officer cum Company Secretary – Mun Siong Engineering Limited
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)
Directorship
1. RHT Corporate Advisory Pte Ltd (Mar 2018 to Dec 2019)
2. RHT Corporate Advisory (HK) Limited (Mar 2018 to Nov 2019)
3. Asiatic Group (Holdings) Limited – Listed on SGX Catalist (Sep 2007 to Jul 2018)
Other Principal Commitments
Nil
Present
Directorship
1. Van Der Broeck’s Consultancy Pte Ltd (May 2003 to present)
2. Raintree Corporate Services Pte Ltd (Jun 2021 to present)
Other Principal Commitments
Nil
(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?
Yes
If Yes, Please provide details of prior experience
Mr Seah was an Independent Director of Asiatic Group (Holdings) Limited, which is listed on the Catalist Board, for the period September 2007 to July 2018. He was also the Chairman of the Audit Committee and member of the Nominating and Remuneration Committees.
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)
Not Applicable
Change – Announcement of Appointment::Appointment of Non-Exective Independent Director
