Change - Announcement of Appointment::Appointment of Lead Independent Director
Issuer & Securities
Issuer/ ManagerADVANCE SCT LIMITED
SecuritiesADVANCE SCT LIMITED - SG1Q38922098 - 5FH
Stapled SecurityNo
Announcement Details
Announcement Title Change - Announcement of Appointment
Date & Time of Broadcast15-Aug-2016 17:19:44
StatusNew
Announcement Sub TitleAppointment of Lead Independent Director
Announcement ReferenceSG160815OTHR9755
Submitted By (Co./ Ind. Name)Simon Eng
DesignationChief Executive Officer
Description (Please provide a detailed description of the event in the box below)Appointment of Mr. Mark Leong Kei Wei as a Lead Independent Director, AC Chairman, NC member and RC member of the Company.
Additional Details
Date Of Appointment15/08/2016
Name Of PersonMark Leong Kei Wei
Age40
Country Of Principal ResidenceSingapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)Given his vast experience in corporate finance advisory, private equity, capital markets and various funds raising exercises, Mr Leong brings complementary skills especially in the area of corporate finance, investor relations and investment. The board, having considered Mr Leong's qualification and experience, believes that Mr Leong will be an asset in corporate governance matters, having been a Chief Financial Officer of a listed company.
Whether appointment is executive, and if so, the area of responsibilityNon-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)Lead Independent Director, AC Chairman, NC member and RC member
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 yearsMr Mark Leong is currently an Executive Director of a gold mining company, Pulai Mining Sdn Bhd, undertaking a dual role of Chief Executive Officer and Chief Financial Officer. He also founded Avalon Capital Pte Ltd, a company serving as a platform for investments and to provide consultancy services including investor search mandates and introducer mandates.

Prior to this, in 2012, Mr Leong joined a family office, Colossus Holdings Pte Ltd as Vice President, Finance and Investment, and managed investments in excess of US$200m as well as identifying investment opportunities and designing exit strategies. In 2010, Mr Leong joined an ASX listed health and wellness group, Atos Wellness Ltd, with a dual role of Chief Development Officer and Deputy CEO of its major subsidiary. Mr Leong was appointed to the board of directors of ASX listed ATW Holdings Ltd to assist in assessing potential acquisition targets in 2011. In 2007, Mr Leong joined the Kreuz International as CFO overseeing the group's fund-raising exercises, expansion into overseas markets via joint-ventures as well as investor relations. He was involved in accessing the capital and debt markets through several sales & leaseback exercises with total transaction value of US$225m, a convertible bond issue for US$100m and a S$72m share placement. From 2002 to 2007, Mr Leong was with prolific capital markets advisory firm Westcomb Financial Group Limited (formerly known as SBI E2-Capital) where apart from setting up the Finance department, he was in charge of managing all reporting functions of the various business segments including corporate finance advisory, syndication, M&A, private equity, consultancy, public & investor relations and research. He was actively involved in its IPO (SGX) in 2004 and left the company as CFO.

Mr Leong is a fellow of the Association of Chartered Certified Accountants (ACCA) and a Chartered Accountant of the Institute of Singapore Chartered Accountants (ISCA).
Shareholding interest in the listed issuer and its subsidiaries?Yes
Shareholding DetailsDeemed interested in 500,000 ordinary shares held by spouse, Yeo Sze Woan Debbie
# 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)Atos Wellness Ltd
PresentAvalon Partners Pte Ltd
Pulai Mining Sdn Bhd
Top Mining Ltd
Cosmo Consortium Pte Ltd
Cosmo Real Estate Pte Ltd
T8 Investments Pte Ltd
(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?No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed companyAn orientation program will be conducted to familiarise Mr Leong with the business and operations of the Company. Mr Leong will also be invited to participate in seminars and events to keep him abreast of developments that are relevant to the Company.