Appointment of Mr David Tan Chao Hsiung as an Independent Director
Date Of Appointment: 15/12/2023
Name Of Person: David Tan Chao Hsiung
Age: 63
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 David Tan Chao Hsiung (“Mr Tan”) as an 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 Tan is considered a non-executive Independent Director. The Board of Directors is of the opinion that Mr Tan can contribute positively to the Company and enhance the core competencies of the Board, after reviewing the Nominating Committee’s recommendation and Mr Tan’s qualifications, experience and suitability.
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 and member of Audit Committee
Professional qualifications:
- Fellow Certified Practicing Accountant (CPA Australia)
- Master of Commerce (specialisation in finance) University of New South Wales, Australia
- Bachelor of Economics (Accountancy) Macquarie University, Australia
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
- 2008 to Present
Lead Independent Director and Audit Committee Chairman, Powermatic Data Systems Limited
- 2012 to Present
Lead Independent Director and Audit Committee Chairman, 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): Nil
Present
1) Powermatic Data Systems Limited
2) Mun Siong Engineering Limited
(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 and Appendix B.
(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?: Yes
If Yes, Please provide full details: Please refer to Appendix A and Appendix B.
(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 Tan is an independent director of the following companies listed on SGX:
1) Powermatic Data Systems Limited
2) Mun Siong Engineering Limited
He had also been an independent director of the following companies listed on SGX:
1) Second Chance Properties Ltd
2) TMC Education Corporation Ltd. (now known as Global Dragon Limited)
3) Craft Print International Limited. (now known as Abundance International Limited)
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): NA
