PEC : Appointment Of Independent Director

CHANGE - ANNOUNCEMENT OF APPOINTMENT::APPOINTMENT OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager

PEC LTD.

Securities

PEC LTD. - SG1Y45946619 - IX2

Stapled Security

No

Announcement Details

Announcement Title

Change - Announcement of Appointment

Date &Time of Broadcast

01-Aug-2022 18:18:22

Status

New

Announcement Sub Title

Appointment of Independent Director

Announcement Reference

SG220801OTHRSM43

Submitted By (Co./ Ind. Name)

ABDUL JABBAR BIN KARAM DIN

Designation

COMPANY SECRETARY

Effective Date and Time of the event

01/08/2022 17:00:00

Description (Please provide a detailed description of the event in the box below)

Please see below.

Additional Details

Date Of Appointment

01/08/2022

Name Of Person

Ngan Wan Sing Winston

Age

60

Country Of Principal Residence

Singapore

The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)

The Nominating Committee has reviewed Mr Ngan Wan Sing Winston's curriculum vitae and declaration of independence, and has concluded that Mr Ngan has met the requisite standards as required by the Code of Corporate Governance 2018 (the "Code") and is also satisfied that Mr Ngan is considered as independent under the Code.

The Nominating Committee has recommended that the appointment of Mr Ngan as an Independent Director of the Company and the Board of Directors has approved his appointment based on his qualifications and experience.

Whether appointment is executive, and if so, the area of responsibility

Non-Executive.

Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)

Independent Director and Member of the Nominating Committee, Remuneration Committee and Audit & Risk Management Committee.

Professional qualifications

Chartered Professional Accountant (Canada),

Chartered Accountant (Singapore) and Certified

Public Accountant (Australia).

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

Nil.

Conflict of interests (including any competing business)

Nil.

Working experience and occupation(s) during the past 10 years

Mr Ngan was formerly a partner and the Head of Assurance for the Financial Services Singapore and ASEAN of Ernst & Young (EY) where he was overseeing the growth and strategic priorities of the Financial Services Assurance practices in Singapore and in ASEAN. He has more than 26 years of professional services experience.

Prior to joining EY, Mr Ngan was an Electronic System Design Engineer with a United Kingdom company for 4 years and also served as a Software Programmer with a computer consultancy firm in Canada.

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)

Mr Ngan has retired as a partner from Ernst & Young (EY) Singapore since 30 June 2020.

Mr Ngan had more than 26 years of professional services experience including times in EY Singapore and Canada.

Mr Ngan had focused primarily on serving financial services client in the last 15 years.

Mr Ngan led the FS Assurance practices with 1,300 audit professionals across ASEAN with more than 320 of them based in Singapore.

Mr Ngan was a member of the EY leadership team managing the FS Assurance practices in 11 markets across Asia Pacific.

Present

Mr Ngan is a Board and Risk Committee member, Audit Committee Chairman of HSBC Singapore.

Mr Ngan is a Board, Audit and Risk Committee member of Azalea Asset Management Pte. Ltd.

Mr Ngan is a Board member of Vinfast Trading and Investment Pte. Ltd.

Mr Ngan is a Board member and President of SPD (Serving People with Disabilities), a charity in Singapore and a past Audit Committee Chairman.

1. 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

1. 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

1. 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

1. 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

1. 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

1. 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

1. 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

1. 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

1. Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-

1. any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or

No

1. 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

1. 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

1. 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

1. 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

The Company will arrange for Mr Ngan to attend training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange.