Change - Announcement of Appointment::RE-DESIGNATION OF EXECUTIVE CHAIRMAN TO NON-EXECUTIVE CHAIRMAN
Issuer & Securities
Issuer/ ManagerAXCELASIA INC.
SecuritiesAXCELASIA INC. - MYA012218006 - 42U
Stapled SecurityNo
Announcement Details
Announcement Title Change - Announcement of Appointment
Date & Time of Broadcast28-Dec-2017 18:29:06
StatusNew
Announcement Sub TitleRE-DESIGNATION OF EXECUTIVE CHAIRMAN TO NON-EXECUTIVE CHAIRMAN
Announcement ReferenceSG171228OTHRVLMW
Submitted By (Co./ Ind. Name)Dr. Veerinderjeet Singh
DesignationExecutive Chairman
Description (Please provide a detailed description of the event in the box below)This announcement has been prepared by Axcelasia Inc. (the "Company") and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and Email: sponsorship@ppcf.com.sg).
Additional Details
Date Of Appointment01/01/2018
Name Of PersonVeerinderjeet Singh a/l Tejwant Singh
Age61
Country Of Principal ResidenceMalaysia
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)Dr. Veerinderjeet Singh has indicated his desire to step down from his position as Executive Chairman of the Company to devote more time to his personal commitments. Having given due consideration, the Board has approved the re-designation of Dr. Veerinderjeet Singh as Non-Executive Chairman.
Whether appointment is executive, and if so, the area of responsibilityNon-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)Non-Independent Non-Executive Chairman
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiariesNil
Conflict of interests (including any competing business)Nil
Working experience and occupation(s) during the past 10 years21 August 2015 to date : Executive Chairman, Axcelasia Inc.

January 2007 to date : Managing Director (and subsequently re-designated as Chairman in January 2012), Taxand Malaysia Sdn. Bhd. (now known as Axcelasia Taxand Sdn. Bhd., a subsidiary of the Company).
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?Yes
Shareholding DetailsAn aggregate of 26,032,500 shares in the Company comprising direct and deemed interest of 25,132,5000 shares and 900,000 shares respectively. Dr Veerinderjeet Singh is deemed interested in 900,000 shares held by his wife, Ms Rajinderpal Kaur through UOB Kay Hian Pte. Ltd.
# 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)1. Bank of Nova Scotia Berhad
2. Taxand GST Sdn Bhd
3. Andersen Tax Sdn Bhd
Present1. IBFD Asia Sdn Bhd
2. Axcelasia Taxand Sdn Bhd
3. Malaysian Rating Corporation Bhd
4. AmBank (M) Bhd
5. UMW Holdings Bhd
(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; orNo
(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; orNo
(iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; orNo
(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 a listed company?Yes
If Yes, Please provide details of prior experience1. Axcelasia Inc.
2. Malaysian Rating Corporation Bhd
3. AmBank (M) Bhd
4. UMW Holdings Bhd