Appointment Of Executive Director And Chief Financial Officer
| Announcement Title | : Change - Announcement of Appointment |
| Date & Time of Broadcast | : Oct 30, 2020, 17:57 |
| Status | : New |
| Announcement Sub Title | : Appointment of Executive Director and Chief Financial Officer |
| Announcement Reference | : SG201030OTHRF3GC |
| Submitted By (Co./ Ind. Name) | : Tan Meng Toon |
| Designation | : Executive Director, Commercial |
| Description (Please provide a detailed description of the event in the box below) | : Appointment of Executive Director and Chief Financial Officer |
| Additional Details | |
| Date Of Appointment | : 01/11/2020 |
| Name Of Person | : Ridwan Hamid |
| Age | : 57 |
| Country Of Principal Residence | : Indonesia |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | : The Board, having considered the Nominating Committee's recommendation and assessment of Mr. Ridwan Hamid's (''Mr. Ridwan'') qualifications, past work experiences, and years of service, is satisfied that he has the requisite knowledge, experience, and capability to assume the duties and responsibilities as an Executive Director. In line with the Company's succession plan, the Board approved the appointment of Mr. Ridwan as an Executive Director and CFO of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | : Executive Responsible for the overall finance and administrative functions of the Group. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member, etc.) | : Executive Director and CFO |
| 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 | : No |
| Conflict of interests (including any competing business) | : Yes. Mr. Ridwan is a director/commissioner of the companies listed in Appendix A. The Company and its subsidiaries (''Group Companies'') have entered into transactions with some of the companies listed in Appendix A. The Group Companies may enter into new transactions or renew some of the existing engagement with some of the companies listed in Appendix A. Any potential conflict of interest will be mitigated as follows: 1. Mr. Ridwan is answerable to the Board of Directors of the Company. All the major decisions involving the Group Companies will be determined by the Board of Directors of the Company. The Board of Directors will review instances of conflict of interest involving Mr. Ridwan. 2. In instances where conflict of interest exist, Mr. Ridwan will abstain from voting and/or making recommendations. 3. The Company has an internal procedure mechanism to assess and ensure that transactions involving conflict of interest shall be on an arm's length basis and not prejudicial to the interest of the Group Companies and shareholders of the Company. 4. The Audit Committee will review any actual or potential conflicts of interest. The review involves an examination of the nature of the conflict. The Audit Committee has put in place measures for the Company to mitigate the impact of any potential conflict of interest. 5. As executive officer of the Company, Mr. Ridwan owes a duty of fidelity and good faith to the Company. |
| Working experience and occupation(s) during the past 10 years | : 2014 - Present: Director of PT Samudera Indonesia Tbk 2019 - Present: Director of PT Samudera Indonesia Tangguh Director or Commissioner in other Samudera Indonesia group of companies 2011 - 2014: CEO and President Director of Anglo Eastern Plantations Group 2008 - 2010: President Director of Hutchison Port Indonesia 2005 - 2008: CFO of Hutchison Port Indonesia He was also a member of the Executive Committee of the International Association of Ports and Harbors between 2010-2011. |
| 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) | : Please refer to Appendix "B" |
| Present | : Please refer to Appendix "A" |
| (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 any 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 offense, 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 offense, 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 offense 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? | : No |
| If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange | : The Company will arrange for Mr. Ridwan to attend relevant courses with the Singapore Institute of Directors to familiarise himself with the role and responsibilities of a Director of a public listed company in Singapore. The Company will also conduct a comprehensive orientation program for Mr. Ridwan to aid his understanding and familiarisation of the Company's business activities, operations, and strategic directions. |
| 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 |
Attachments