News
Change - Announcement Of Appointment Of Independent Director Who Is An Audit Committee Member
BackNov 28, 2014
| Announcement Title | Change - Announcement of Appointment |
| Announcement Subtitle | Appointment of Independent Director who is an Audit Committee member |
| Securities | ASCENDAS REAL ESTATE INV TRUST (ASCENDAS) |
| Date & Time of Broadcast | Nov 28, 2014 17:22 |
| Submitted By | Mary Judith de Souza Company Secretary |
| Effective Date and Time | Nov 28, 2014 17:15 |
| Description | Appointment of Mr Chan Pengee, Adrian as an Independent Director of Ascendas Funds Management (S) Limited ("AFM"), as the manager of Ascendas Real Estate Investment Trust ("A-REIT"). He is also appointed as a member of the Audit Committee ("AC") and a member of the Operational Risk Management Committee ("ORMC"). |
| Appointment Details | |
| Date of appointment | Dec 1, 2014 |
| Name of person | Chan Pengee, Adrian |
| Age | 49 |
| Country of principal residence | Singapore |
| The Board's comments on this appointment | The Nominating, Human Resource & Remuneration Committee ("NHRRC") has reviewed the qualifications and experience of Mr Chan Pengee, Adrian and has recommended to the Board his appointment as Non-Executive and Independent Director of the Company. The Board has accepted the recommendation of the NHRRC and approved his appointment. |
| Whether appointment is executive, and if so, the area of responsibility | Non-executive |
| Job title | Mr Chan is appointed as an independent director of AFM, a member of the AC and a member of the ORMC. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None. |
| Conflict of interests (including any competing business) | None. |
| Working experience and occupation(s) during the past 10 years | Mr Adrian Chan is a Senior Partner at Lee & Lee and head of the Corporate Department of the firm. He joined Lee & Lee in 1989. Mr Chan serves as Vice-Chairman of the Singapore Institute of Directors and sits on the Corporate Governance and Regulations Committee of the Singapore International Chamber of Commerce. Mr Chan was appointed to the Audit Committee Guidance Committee, established by the Monetary Authority of Singapore, the Accounting and Corporate Regulatory Authority and the SGX to develop practical guidance for audit committees of SGX-listed companies and raise corporate governance standards. In addition, he has served on the Lemon Law Taskforce set up by the Ministry of Trade & Industry and CASE to make recommendations to the government on the scope and form of lemon laws in Singapore. He has also served on the Taxpayers Feedback Panel of the Inland Revenue of Singapore. Mr Chan has been elected to and serves on the Executive Council of the Association of Small and Medium Enterprises as its Honorary Secretary. In addition, he has been appointed the Honorary Legal Advisor to the Singapore Institute of Engineering Technologists and the Singapore Optometrist Association. Mr Chan is an independent director on the board of several publicly listed companies on the Singapore Stock Exchange. |
| Shareholding interest in the listed issuer and its subsidiaries | No |
| Other Directorships | |
| Note: 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 refer to the attachment marked "Annex A" |
| Present | Please refer to the attachment marked "Annex B" |
| Information Required Persuant To Listing Rule 704(7)(H) | |
| (a) Whether at any time during the past 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 any 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 | Mr Chan is an ID of AEM Holdings Limited. It was announced in May 2007 that 7 of its employees (including the then CEO) were under investigation by CPIB and he has assisted CPIB in their investigations. The then CEO was convicted for corruption in 2012. |
| (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 with 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 |
| Information Required persuant to Listing Rule 704(7)(I) | |
| Note: Disclosure applicable to the appointment of Director only | |
| Any prior experience as a director of a listed company? | Yes |
| If yes, please provide full details | Mr Chan has been a director of various SGX-listed companies since 2002. His current directorships are listed in the attachment marked as "Annex B". In addition, Mr Chan is the Vice-Chairman of the Singapore Institute of Directors. |
Attachments