Announcement Of Appointment Of Chief Financial Officer
BackDec 31, 2012
| Appointment Details | ||
| Date of Appointment | 01/01/2013 | |
| Name | FRANCIS LAI KUM WAI | |
| Age | 38 | |
| Country of principal residence | Singapore | |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Board of Directors approved the appointment of Mr Francis Lai Kum Wai as the Group Financial Controller of the Company, upon recommendation of the Nominating Committee having reviewed his qualifications and work experiences. | |
| Whether appointment is executive, and if so, area of responsibility | Executive. Responsible for:- 1) financial and accounting matters, including the review of monthly reports, analysis of accounts, budget, cash flow, credit control, group consolidation, audit, taxation and compliance with the financial reporting requirements of the Group; 2) Investment and mergers and acquisitions related matters on business expansion; 3) personnel and administrative matters; and 4) overseeing the corporate secretarial function of the Group. |
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| Job Title | Group Financial Controller | |
| Working experience and occupation(s) during the past 10 years | Mr Francis Lai Kum Wai started his career as an entrepreneur in the education industry while pursuing for his Bachelor of Arts degree in the National University of Singapore (NUS) where he graduated with a 2nd Class Honours degree in Arts majoring in Japanese Studies. Concurrently he pursued his Association of Chartered Certified Accountants (ACCA) qualifications. Prior to joining Far East Group Limited as Senior Finance and Business Development Manager in 2011, he spent 11 years in the semiconductor industry, taking on different accounting roles in financial and management accounting and was involved in the successful completion of several merger and acquisitions deals. Since joining Far East Group Limited, he has assisted the Group on its listing on Catalist in 2011, been responsible for the due diligence studies in connection with the Group's business expansion plan, managing the Group's insurance policies and developing the Group's finance policies and procedures. He is a non-practising member of the Institute of Certified Public Accountants of Singapore, CPA (Singapore) and is also a fellow of the Association of Chartered Certified Accountants (ACCA). Mr Lai's working experiences during the past 10 years are as follows:- April 2011 to Present - Senior Finance and Business Development Manager (Far East Group Limited) November 2006 to March 2011 - Finance and Business Development Manager (Ellipsiz Singapore Pte Ltd) April 2005 to October 2006- Business Development Executive (Ellipsiz Ltd) October 2000 to March 2005 - Assistant Accountant (Ellipsiz Ltd) |
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| Shareholding in the listed issuer and its subsidiaries | 23,000 shares | |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil | |
| Conflict of interest | Nil | |
| Other Directorship | ||
| Past (for the last five years) | E+HPS Engineering (Suzhou) Co., Ltd | |
| Present | Nil | |
| Information required pursuant to Listing Rule 704(7)(h) | ||
| a. | Whether at any time during the last 10 years, a petition under any bankruptcy laws of any jurisdiction was filed against him or against a partnership of which he was a partner? | No |
| b. | Whether at any time during the last 10 years a petition under any law of any jurisdiction was filed against a corporation of which he was a director or key executive for the winding up of that corporation on the ground of insolvency? | No |
| c. | Whether there is any unsatisfied judgement 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 for 3 months or more, or has been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) 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 been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such breach? | No |
| f. | Whether at any time during the last 10 years, judgement 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, misinterpretation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings which he is aware of involving an allegation of fraud, misinterpretation 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 corporation? | No |
| h. | Whether he has ever been disqualified from acting as a director of any corporation, or from taking part directly or indirectly in the management of any corporation? | No |
| i. | Whether he has ever been the subject of any order, judgement 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 |
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| (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 |
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| (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 |
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| (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, | No |
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| in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | ||
| 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 |
| Information required pursuant to Listing Rule 704(7)(i) | ||
| Any prior experience as a director of a listed company? | No | |
| If yes, please provide details of prior experience. | Singapore Institute of Directors Certification Programme Module 1: Listed Company Director Essentials-Understanding the Regulatory Environment in Singapore: What Every Director Ought to Know |
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| Other Notes | ||
| Footnotes | This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), Canaccord Genuity Singapore Pte. Ltd. for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). Canaccord Genuity Singapore Pte. Ltd. has not independently verified the contents of this announcement. This announcement has not been examined or approved by 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 Mr Alex Tan, Managing Director, Corporate Finance, Canaccord Genuity Singapore Pte. Ltd. at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 68546160. |
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