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Change - Announcement Of Retirement Of Independent Non-Executive Director
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jun 17, 2020 20:04 |
| Status | New |
| Announcement Sub Title | RETIREMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR |
| Announcement Reference | SG200617OTHR0ELH |
| Submitted By (Co./ Ind. Name) | CHIN MEI YANG |
| Designation | CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR |
| Description (Please provide a detailed description of the event in the box below) | RETIREMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST 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 Mr. David Yeong (Telephone: 65-6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | LOY SOO CHEW |
| Age | 53 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 17/06/2020 |
| Detailed Reason (s) for cessation | Mr Loy Soo Chew, who was due to retire at the Annual General Meeting of the Company ("AGM") pursuant to Regulation 117 of the Company's Constitution did not seek for re-election as Director of the Company. Following his retirement, Mr Loy Soo Chew also ceased as the Chairman of the Remuneration Committee and member of the Audit Committee and Nominating Committee. The Sponsor, after having interviewed Mr Loy Soo Chew, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Mr Loy Soo Chew as an Independent Director of the Company. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 09/06/2016 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Non-Executive Director, Chairman of the Remuneration Committee and Member of the Audit Committee and Nominating Committee. |
| Role and responsibilities | Independent Non-Executive Director, Chairman of the Remuneration Committee and Member of the Audit Committee and Nominating Committee. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | NIL |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | AFRIASIAN TRADING PTE. LTD. |
| Present | INVICTA ASIAN HOLDINGS PTE. LTD. KIAN ANN ENGINEERING PTE. LTD. KIAN ANN DISTRICENTRE PTE. LTD. KIAN ANN INVESTMENT PTE. LTD. KIAN ANN ENGINEERING TRADING (SHANGHAI) CO., LTD. KIAN CHUE HWA (INDUSTRIES) PTE. LTD. P T. HANEAGLE HEAVYPARTS INDONESIA P T. ALLEGIANCE PRIMAPARTS INDONESIA A.T. GROUP HOLDINGS CO., LTD. A.T. TRUCK & BUS PARTS CO., LTD NORTH AMERICAN TRACTOR AND EXCAVATOR PARTS INC. STEVE WOODS LIMITED ALLEGIANCE PARTS AND SERVICES SINGAPORE PTE LTD ALLEGIANCE PARTS (MALAYSIA) SDN BHD SKL EQUIPMENT PRIVATE LIMITED KUNSHAN KENSETU BUHIN CO LTD KTSU AMERICA LLC MODESTY INVESTMENTS HOLDING PTE. LTD. GKE CORPORATION LIMITED ALLEGIANCE AUTOMOTIVE SUPPLIERS PTE. LTD. |