Announcements
Change - Announcement Of Resignation Of Independent Director
Mar 17, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 17, 2025 21:26 |
| Status | New |
| Announcement Sub Title | Resignation of Independent Director |
| Announcement Reference | SG250317OTHR98R4 |
| Submitted By (Co./ Ind. Name) | Irawan Mulyadi |
| Designation | Executive Director and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Independent Director - Aw Eng Hai This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It 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. Charmian Lim (telephone no.: +65 6232 3210), at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | Aw Eng Hai |
| Age | 57 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 31/03/2025 |
| Detailed Reason (s) for cessation | Mr Aw Eng Hai ("Mr Aw") has tendered his resignation as an Independent Director of the Company with effect from 31 March 2025, to facilitate Board renewal. Following Mr Aw's resignation, he will also relinquish his positions as the Chairman of the Audit Committee, a Member of the Nominating Committee and a Member of the Remuneration Committee. The Company's Sponsor, SAC Capital Private Limited, after having interviewed Mr Aw, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Aw as Independent Director of the Company. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 29/10/2020 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 2 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 3 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | 1. Independent Director 2. Chairman of Audit Committee 3. Member of Nominating Committee 4. Member of Remuneration Committee |
| Role and responsibilities | Non-Executive |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Aw holds 1,000,000 share options under the Company's Employee Share Option Scheme 2021. |
| Past (for the last 5 years) | 1. Capital World Limited 2. Century Master Pte. Ltd. (Dissolved - Creditors' Voluntary Winding up) 3. Hunting Airtrust Tubulars Pte. Ltd. (Dissolved - Members' Voluntary Winding up) 4. TXZ Tankers Pte. Ltd. (Dissolved - Creditors' Voluntary Winding up) Other Principal Commitments: Nil |
| Present | 1. Airtrust (Singapore) Pte. Ltd. (under Members' Voluntary Winding up) 2. Foo Kon Tan Advisory Services Pte. Ltd. 3. Foo Kon Tan Transaction Services Pte. Ltd 4. GDS Global Limited 5. Insolvency Practitioners Association of Singapore Limited 6. Luminor Financial Holdings Limited 7. Tritech Group Limited Other Principal Commitments: 1. FKT International 2. Foo Kon Tan LLP |