Change - Announcement Of Appointment Of The Chairman And Non-Executive Director
Back 22 Mar 2024
| Issuer & Securities | |
| Issuer/ Manager | HUTCHISON PORT HOLDINGS MANAGEMENT PTE. LIMITED |
| Securities | HUTCHISON PORT HOLDINGS TRUST - SG2D00968206 - NS8U |
| Stapled Security | No |
| Announcement Details | |
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Mar 22, 2024 22:17 |
| Status | New |
| Announcement Sub Title | Appointment of the Chairman and Non-executive Director |
| Announcement Reference | SG240322OTHRHW14 |
| Submitted By (Co./ Ind. Name) | Wong Yoen Har |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Appointment of the Chairman and Non-executive Director of Hutchison Port Holdings Management Pte. Limited (the "Company") |
| Additional Details | |
| Date Of Appointment | 01/04/2024 |
| Name Of Person | LAI Kai Ming, Dominic |
| Age | 70 |
| Country Of Principal Residence | Hong Kong |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | The Nominating Committee has recommended Mr. LAI Kai Ming, Dominic ("Mr. Lai") as the Chairman and Non-executive Director of the Company from a selection of suitable directors candidates. The Board having considered the recommendation of the Nominating Committee and assessed Mr. Lai's qualifications and working experience, the Board is of the view that Mr. Lai is able to assume the roles and responsibilities of the Chairman and Non-executive Director of the Company. The Board approved the appointment of Mr. Lai as the Chairman and Non-executive Director of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | No |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chairman and Non-executive Director |
| Professional qualifications | Bachelor of Science (Hons) degree and Master's degree in Business Administration |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | Mr. Lai is an Executive Director and Deputy Managing Director of CK Hutchison Holdings Limited ("CKHH") and a director of CK Hutchison Global Investments Limited ("CKHGI") and Hutchison Port Group Holdings Limited ("HPGH"). HPGH is a substantial unitholder, and CKHH and CKHGI are deemed as substantial unitholder, of Hutchison Port Holdings Trust. |
| Conflict of interests (including any competing business) | Please refer to the above regarding Mr. Lai's directorship in CKHH, CKHGI and HPGH. |
| Working experience and occupation(s) during the past 10 years | Mr. Lai is an Executive Director and Deputy Managing Director of CKHH since June 2015. He was the Finance Director and Chief Operating Officer of the AS Watson Group, the retail arm of the CKHH Group, from 1994 to 1997, Group Managing Director of the Harbour Plaza Hotel Management Group, the former hotel business of Hutchison Whampoa Limited ("HWL"), from 1998 to 2000, and an Executive Director of HWL from 2000 to 2015. |
| 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 |
| # 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 attached Appendix A |
| Present | Please see attached Appendix B |
| (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 |
| Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable) | Mr. Lai is currently a director (in executive and non-executive role) of other listed issuers on The Stock Exchange of Hong Kong Limited ("HKEx"). The Nominating Committee is of the view that given (i) both Singapore and Hong Kong are common law jurisdictions; and (ii) the standards of corporate governance required by the Singapore Exchange and HKEx are comparable, the mandatory training prescribed by Rule 210(5)(a) of the Listing Manual of Singapore Exchange Securities Trading Limited ("SGX-ST") is not required as Mr. Lai has other relevant directorship experience. |
Attachments
- Appendix A (Size: 160,075 bytes)
- Appendix B (Size: 315,834 bytes)