Change - Announcement of Appointment::Appointment of Independent Director
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | 30-Apr-2025 17:26:45 |
| Status | New |
| Announcement Sub Title | Appointment of Independent Director |
| Announcement Reference | SG250430OTHRFH7C |
| Submitted By (Co./ Ind. Name) | Warangkana Tewapunkul |
| Designation | Legal Corporate Manager and Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Please refer to the information disclosed below. |
| Additional Details | |
| Date Of Appointment | 30/04/2025 |
| Name Of Person | Tan Yew Chee William |
| Age | 58 |
| 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) |
After reviewing the recommendation of the Nomination Committee and Mr. Tan Yew Chee William qualifications and experience (as set out below and in the Circular), the Board has approved that he stands for appointment as an Independent Director. Mr. Tan will, upon appointment, serve as an Independent Director on the Board of Directors of the Company, and Chairman of the Remuneration Committee and Member of the Nomination Committee, and will also be considered independent for the purposes of Rule 210(5)(c) and 704(8) of the Listing Manual of the SGX-ST. |
| 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 the Remuneration Committee Member of the Nomination Committee |
| Professional qualifications |
The Association of Chartered and Certified Accountants (UK), 2000 NCC (UK) Diploma in Computer Studies,1988 LCCI (UK) Diploma in Managerial Studies,1986 |
| 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 |
Sep/2024 to present: Engaged as Finance & business consultant for a Family Office in Singapore. June/2024 to Sept/2024: Chief Financial Officer of a NASDAQ listed entity, EUDA Health Holdings Limited. The Group, through its subsidiaries, operates its business in two segments, (1) engaged in the healthcare specialty group (other than general practice) business offering range of specialty care services to patients, and engaged in the medical facility general practice clinic that provides holistic care for various illnesses, and (2) engaged in the property management service that services shopping malls, business office building, or residential apartments. May/2008 to Jan/2023: Chief Financial Officer of SGX mainboard listed entity, Sinostar PEC Holdings Limited. A China entity which specialised in manufacturing of oil & petrochemical products and providing of logistics & transportation services within the China markets. Jan/2015 to Dec/2022: Chief Company Secretary of Pacific Commerce Pte Ltd and Pacific Shipping Pte Ltd, subsidiaries of Dongming Petrochem Group which incorporated in Singapore for crude oil procurement activities. Sept/2012 to Aug/2015: Non-executive independent director of then SGX listed entity China Sky Chemical Fibre Co., Limited. Member of board and its Audit Committee. China Sky is specialised in the manufacturing of fiber & chemical activities and base in China Fujian. Jan/2013 to Dec/2017: Engaged as financial consultant of a local SME engineering and construction company. Focus on the restructuring of business operations and provide training to the finance departments. |
| 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) |
June/2024 to Sept/2024: Chief Financial Officer of a NASDAQ listed entity, EUDA Health Holdings Limited. The Group, through its subsidiaries, operates its business in two segments, (1) engaged in the healthcare specialty group (other than general practice) business offering range of specialty care services to patients, and engaged in the medical facility general practice clinic that provides holistic care for various illnesses, and (2) engaged in the property management service that services shopping malls, business office building, or residential apartments. May/2008 to Jan/2023: Chief Financial Officer of SGX mainboard listed entity, Sinostar PEC Holdings Limited. A China entity which specialised in manufacturing of oil & petrochemical products and providing of logistics & transportation services within the China markets. Jan/2015 to Dec/2022: Chief Company Secretary of Pacific Commerce Pte Ltd and Pacific Shipping Pte Ltd, subsidiaries of Dongming Petrochem Group which incorporated in Singapore for crude oil procurement activities. |
| Present | Mar/2017 to present: Independent and non-executive director of Unusual Limited. Board member and chairman of the remuneration committee |
| (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? | Yes |
| If Yes, Please provide full details | In 5/April/2023, the Nominee, received a private warning from the Singapore Exchange, in his capacity as the former CFO of Sinostar PEC Holdings Limited, for certain breaches of SGX Mainboard listing rules related to Interested Person Transactions. Save for the private warning from the Singapore Exchange, no further action was taken against the Nominee. |
| Any prior experience as a director of an issuer listed on the Exchange? | Yes |
| If Yes, Please provide details of prior experience | From August 2013 to August 2015 as the non-executive independent director of then SGX listed entity China Sky Chemical Fibre Co., Limited. Member of board and its Audit Committee. |
| 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. |