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Apr 12, 2019

Change - Announcement Of Appointment Of Chief Executive Officer-Designate

Announcement Title Change - Announcement of Appointment
Date & Time of Broadcast Apr 12, 2019 18:23
Status New
Announcement Sub Title Appointment of Chief Executive Officer-Designate
Announcement Reference SG190412OTHRGV0A
Submitted By (Co./ Ind. Name) Catherine Yeo
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) Appointment of Mr Richard Ng as Chief Executive Officer-Designate of Frasers Centrepoint Asset Management Ltd.
Additional Details
Date Of Appointment 15/04/2019
Name Of Person Richard Ng
Age 51
Country Of Principal Residence Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) Frasers Centrepoint Asset Management Ltd. ("FCAM") has identified a successor for Dr Chew Tuan Chiong, who will be retiring as Chief Executive Officer of FCAM with effect from 1 July 2019.

The Nominating and Remuneration Committee (the "NRC") of FCAM has reviewed the qualifications and work experience of Mr Richard Ng. Taking into account his qualifications and work experience, the NRC has recommended to the Board Mr Ng's appointment as the Chief Executive Officer of FCAM.

The Board has accepted the recommendation of the NRC and approved Mr Ng's appointment as Chief Executive Officer-Designate prior to him assuming the role of Chief Executive Officer on 1 July 2019.

The NRC and the Board have assessed Mr Ng's previous employment and experience to be highly relevant and suitable for the role. Mr Ng has around 27 years of experience in the Singapore and regional property markets spanning the areas of marketing, investment and asset management (including involvement in REIT management), and has held various senior management appointments.

Please refer to the attached press release for more information.
Whether appointment is executive, and if so, the area of responsibility Executive.

The Chief Executive Officer has full executive responsibilities over the business direction and operations of FCAM, and is responsible for the execution of the Board's adopted strategies and policies.

The Chief Executive Officer also works with the Board to determine the overall business and investment strategies of Frasers Centrepoint Trust ("FCT"). He is responsible for the day-to-day management of FCT and works closely with the management team to ensure that FCT's finance, investment, asset management, investor relations and other plans and initiatives are executed successfully.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Chief Executive Officer-Designate. Mr Ng's appointment as Chief Executive Officer will take effect from 1 July 2019.
Professional qualifications N.A.
Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries Nil
Conflict of interests (including any competing business) Nil
Working experience and occupation(s) during the past 10 years July 2003 to March 2011:
Vice President, Investment and Asset Management,
CapitaMall Trust Management Limited

April 2011 to August 2013:
Head, Investment and Asset Management,
CapitaMall Trust Management Limited

November 2013 to February 2018:
Executive Director, Asset Management,
PGIM (Singapore) Pte. Ltd.

From April 2018:
Executive Vice President, Head of Asset Management,
Frasers Property Singapore, Frasers Property Limited
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
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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 see Attachment 1.
Present No
(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 an 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 offence, 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 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 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 offence 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 Not applicable.
Attachment 1

12 Apr 2019 | PDF 8,124 kb

Press Release

12 Apr 2019 | PDF 91,667 kb

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