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Change - Announcement Of Appointment Of Acting Chief Executive Officer
Jan 14, 2020
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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jan 14, 2020 7:46 |
| Status | New |
| Announcement Sub Title | APPOINTMENT OF ACTING CHIEF EXECUTIVE OFFICER |
| Announcement Reference | SG200114OTHRH4WK |
| Submitted By (Co./ Ind. Name) | PANG YOKE MIN |
| Designation | EXECUTIVE CHAIRMAN |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Mr. Pang Wei Kuan, James as Acting Chief Executive Officer. |
| Additional Details | |
| Date Of Appointment | 01/01/2020 |
| Name Of Person | Pang Wei Kuan, James |
| Age | 37 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Nominating Committee has assessed Mr. Pang Wei Kuan, James and is of the view that Mr. Pang Wei Kuan, James is suitably qualified for the role of Acting Chief Executive Officer given his qualifications and experience. The Board of Directors concurred with the recommendation of the Nominating Committee. |
| Whether appointment is executive, and if so, the area of responsibility | Executive. Responsible for Group's strategic development, and oversight of the commercial, marketing, business development, QHSSE functions. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Acting Chief Executive Officer |
| Professional qualifications | Bachelor of Arts, Major in Economics from Boston University (Summa cum laude) Bachelor of Science in Business Administration, Major in Finance from Boston University (Summa cum laude) |
| 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 | Yes. Son of Mr. Pang Yoke Min, Executive Chairman and substantial shareholder of the Company. Brother of Mr. Pang Wei Meng, Executive Director of the Company. |
| Conflict of interests (including any competing business) | No. |
| Working experience and occupation(s) during the past 10 years | February 2013 - Present Managing Director, Commercial & Business Development, Pacific Radiance Ltd. June 2012 - January 2013 Managing Director, Commercial & Business Development, Pacific Radiance Pte. Ltd. July 2011 - June 2012 Commercial & Investment Manager, Pacific Radiance Pte. Ltd. February 2009 - June 2011 Associate, Origination & Client Coverage, Standard Chartered Bank |
| 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 | Owns 4,406,000 ordinary shares in Pacific Radiance Ltd. and 48,000 rights over unissued shares |
| # 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) | Please see "Annexure A" as per attached. |
| Present | Please see "Annexure A" as per attached. |
| (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? | Yes |
| If Yes, Please provide full details | Yes. Winding up petitions were filed against CSI Offshore Pte. Ltd. and Pacific Crest Pte. Ltd. on 14 May 2018. Petitions have been stayed following the filing for applications of moratorium to the Singapore High Court under section 211B(1) of the Companies Act, in context of the Group Restructuring. Please refer to announcement dated 16 May 2018 released via SGXNet for details and subsequent updates on material developments in relation to the winding up petitions. |
| (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 | Not applicable as this is not an appointment of Director. |
Attachments
- Annexure A (Size: 6,780 bytes)
