| Announcement Title |
Change - Announcement of Cessation |
| Date & Time of Broadcast |
Jul 14, 2025 18:11 |
| Status |
New |
| Announcement Sub Title |
Cessation of Head of Business Development and Strategy Planning |
| Announcement Reference |
SG250714OTHRS60Q |
| Submitted By (Co./ Ind. Name) |
Lee Pih Peng |
| Designation |
Company Secretary |
| Description (Please provide a detailed description of the event in the box below) |
Cessation of Mr Ong Tong Yang (Weng Dongyang) ("Mr Ong") as Head of Business Development and Strategy Planning of CosmoSteel Holdings Limited's ("Company") wholly owned subsidiary Kim Seng Huat Hardware Pte.Ltd. ("KSH'). |
| Additional Details |
| Name Of Person |
Ong Tong Yang (Weng Dongyang) |
| Age |
50 |
| Is effective date of cessation known? |
Yes |
| If yes, please provide the date |
16/07/2025 |
| Detailed Reason (s) for cessation |
Mr Ong has resigned from his position as Head of Business Development and Strategy Planning of the Company's wholly owned subsidiary, KSH, due to personal reasons. Mr Ong has been with KSH since 2022.
After having interviewed Mr Ong and to the best knowledge of KSH, KSH is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Ong as Head of Business Development and Strategy Planning of KSH.
In addition, KSH notes that there are no concerns with regards to the financial reporting of the Group that led to the cessation of Mr Ong and there are no disagreements between Mr Ong and the Board of Directors of the Company with regards to practices that will have an impact on the Company's financial reporting.
Mr Ong is currently serving his notice period pursuant to the terms of his service contract with KSH up until 16 July 2025. A further announcement will be made as and when the appointment of a candidate to fill the position of Head of Business Development and Strategy Planning has been confirmed and finalised.
|
| 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 |
20/05/2022 |
| 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) |
4 |
| 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.) |
Head of Business Development and Strategy Planning of the Company's wholly owned subsidiary, KSH. |
| Role and responsibilities |
Mr Ong assumed an executive role whereby his main areas of responsibility were :
- Driving business development strategies for KSH.
- Improving the current portfolio and exploring new business opportunities.
- Formulating business strategies that are in line with organisational objectives.
- Co-ordinating and giving guidance to sales team to achieve the organisational objectives.
|
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries |
Yes, Mr Ong is the brother of Mr Ong Tong Hai (Weng Donghai), the CEO and Executive Director of the Company and the Director of KSH, the Company's principal subsidiary. |
| Shareholding interest in the listed issuer and its subsidiaries? |
No |
| Past (for the last 5 years) |
Not Applicable |
| Present |
Not Applicable |
