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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Apr 18, 2024 20:11 |
| Status | New |
| Announcement Sub Title | Re-designation as Non-Executive Non-Independent Chairman |
| Announcement Reference | SG240418OTHRCHZ0 |
| Submitted By (Co./ Ind. Name) | Chiang Wai Ming |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Re-designation as Non-Executive Non-Independent Chairman - Tang Hee Sung 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 Ms Audrey Mok (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Date Of Appointment | 02/05/2024 |
| Name Of Person | Tang Hee Sung |
| Age | 62 |
| Country Of Principal Residence | Singapore |
| Date of last re-appointment (if applicable) | 19/01/2024 |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | Mr Tang Hee Sung ("Mr Tang") was appointed as Non-Executive Non-Independent Director on 29 November 2023 and he shall be re-designated as Non-Executive Non-Independent Chairman with effect from 2 May 2024 to continue providing guidance to the Group in its strategic and operation objectives. The Board has approved Mr Tang's re-designation as Non-Executive Non-Independent Chairman of the Company. The Nominating Committee ("NC") and the Board are of the opinion that with the abovesaid change, the Board size and its composition remain appropriate, considering the current scope and nature of the operations of the Group. Mr Tang had abstained from the deliberations and decision of his re-designation. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Non-Independent Chairman |
| Professional qualifications | Master Degree of Science (Management in Technology) National University of Singapore, Singapore Bachelor Degree of Science in Engineering Arizona State University, Arizona, USA Diploma in Engineering Dalhousie University, Halifax, Nova Scotia, Canada |
| 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) | Mr Tang is a director of Spazio Concepts Pte. Ltd. ("Spazio"), of which the principal business pertains to the assembly of doors and frames in the construction industry. However, it is envisaged that the Group and Spazio will not experience direct competition in the construction sector due to the nature of the products sold by the respective companies. In assessing Mr Tang's suitability, the NC and the Board took into account (i) his background, experience, industry knowledge, professional skills, qualifications and connections which are beneficial to the Group future growth and (ii) his professional aptitude and commitment towards managing, full disclosure and preventing any potential conflicts of interest between the Group and Spazio and/or its affiliates. The NC and the Board was satisfied with Mr Tang's commitment that he will fully disclose all perceived and actual conflicts of interest and recuse himself should such circumstances arise and in decisions involving the issue/conflict. |
| Working experience and occupation(s) during the past 10 years | 2018 to present Director Habigreen Investment Limited 2018 to present Director Icon Services Limited 2011 to present Director Spazio Concepts Pte. Ltd. 2009 to present Director Heptacon Construction Pte. Ltd. 2008 to present Chief Executive Officer Teambuild Land Group of Companies 2000 to present Director Teambuild MESB Properties Sdn Bhd |
| 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 | Mr Tang holds 23,500,000 shares in GDS Global Limited. |
| # 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. Spazio Concepts Pte. Ltd. 2. Heptacon Construction Pte. Ltd. 3. Ecco Land Sdn Bhd 4. Rentak Spektra Sdn Bhd 5. Teambuild Venture Sdn Bhd 6. Teambuild MESB Properties Sdn Bhd 7. Qualicon Construction Sdn Bhd 8. Privazio Holdings Ltd 9. Icon Services Limited 10. Habigreen Investment Limited 11. Gliderol Doors (S) Pte. Ltd. |
| (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 | Heptacon Construction Pte. Ltd. ("Heptacon"), of which Mr Tang is a director, has, on 27 July 2018, received temporary stop work orders from the Ministry of Manpower pursuant to Section 21 of the Workplace Safety and Health Act (CAP 354A) in relation to working at height and formwork. No penalties were charged to the Company and the stop work order has since been lifted. Teambuild Construction Private Limited was fined S$418,224.92 by the IRAS in early 2008 as final settlement for income tax offences (for the years of assessment 2002 to 2006). The fine has since been paid. |
| (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 | Mr Tang was appointed as Non-executive Non-independent Director of the Company on 29 November 2023. |
| 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. |