| Announcement Title |
Change - Announcement of Cessation |
| Date & Time of Broadcast |
Jul 12, 2019 17:19 |
| Status |
New |
| Announcement Sub Title |
Retirement of Chief Executive Officer and Executive Director |
| Announcement Reference |
SG190712OTHR2UXZ |
| Submitted By (Co./ Ind. Name) |
Ong Tong Hai |
| Designation |
Executive Director |
| Description (Please provide a detailed description of the event in the box below) |
Retirement of Chief Executive Officer and Executive Director |
| Additional Details |
| Name Of Person |
Ong Chin Sum |
| Age |
70 |
| Is effective date of cessation known? |
Yes |
| If yes, please provide the date |
12/07/2019 |
| Detailed Reason (s) for cessation |
As announced by the Company on 19 June 2019, Mr Ong Chin Sum is retiring as Chief Executive Officer ("CEO") and Executive Director of the Company and will relinquish all his appointments as director within the Company and its subsidiaries, having completed the effective handover to Mr Ong Tong Hai who will be assume the position of CEO. |
| 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 |
09/11/2005 |
| 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) |
3 |
| 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.) |
Chief Executive Officer and Executive Director |
| Role and responsibilities |
Mr Ong Chin Sum is responsible for spearheading and driving the Company's corporate and business strategies. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries |
Mr Ong Chin Sum is the father of Mr Ong Tong Hai, a substantial shareholder of the Company and the Executive Director of the Company (who will be replacing Mr Ong Chin Sum as CEO of the Company). Mr Ong Tong Hai is also the Director of Kim Seng Huat Hardware Pte. Ltd., the Company's principal subsidiary.
Mr Ong Chin Sum is also the father of Mr Ong Tong Yang, a substantial shareholder of the Company. |
| Shareholding interest in the listed issuer and its subsidiaries? |
No |
| Past (for the last 5 years) |
Kim Seng Huat Hardware Pte. Ltd.
(cease with effect from 12 July 2019) |
| Present |
None |
