|Announcement Title||Change - Announcement of Cessation|
|Date & Time of Broadcast||Oct 10, 2017 19:51|
|Announcement Sub Title||Retirement of Group Chief Financial Officer|
|Submitted By (Co./ Ind. Name)||Alvin Kok|
|Description (Please provide a detailed description of the event in the box below)||Retirement of Group Chief Financial Officer|
|Name Of Person||Loh Kai Keong|
|Is effective date of cessation known?||Yes|
|If yes, please provide the date||10/01/2018|
|Detailed Reason (s) for cessation||Mr Loh Kai Keong is retiring after having served 15 years as Group Chief Financial Officer.
The Board of Directors would like to extend its gratitude and appreciation to Mr Loh for his unwavering commitment, leadership and contributions to Boustead and its group of companies since he joined in 1999. Under Mr Loh's financial stewardship, Boustead has achieved record financial performance and respectable corporate governance standards.
|Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?||No|
|Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?||No|
|Any other relevant information to be provided to shareholders of the listed issuer?||Yes|
|If Yes, Please provide full details||Mr Loh has agreed to remain as a Non-Executive Director following his retirement as Group Chief Financial Officer and he will be retained as a consultant to ensure a smooth transition.
The Finance team of the Company will assume Mr Loh's duties to ensure continued smooth running of the Finance function of the Company following the retirement of Mr Loh.
|Date of Appointment to current position||01/06/2002|
|Does the AC have a minimum of 3 members (taking into account this cessation)?||Yes|
|Number of Independent Directors currently resident in Singapore (taking into account this cessation)||2|
|Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)||Executive Director and Group Chief Financial Officer|
|Role and responsibilities||Responsible for the Group's financial functions, including accounting, financial and management reporting, taxation, internal controls and risk management, as well as corporate secretarial.|
|Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries||Nil|
|Shareholding interest in the listed issuer and its subsidiaries?||Yes|
|Shareholding Details||Boustead Singapore Limited - 500,633 shares
Boustead Projects Limited - 183,189 shares
|Past (for the last 5 years)||Boustead Crescendas Holdings Pte. Ltd.
Boustead Crescendas Management Pte. Ltd.
Boustead Crescendas Property Management Pte. Ltd.
Boustead International Steam Generators Pte. Ltd.
Boustead-Lamara-One North Pte. Ltd.
Boustead-REI Holdings Pte. Ltd.
Boustead Salcon Technologies Pte. Ltd.
Boustead Salcon Utilities Pte. Ltd.
Boustead Solutions Pte Ltd
Boustead Trustees Pte. Ltd.
BP-EA Pte. Ltd.
BP-Mandai Pte. Ltd.
BP-SCC Pte. Ltd.
BP-Tuas 1 Pte. Ltd.
BP-UMS Pte. Ltd.
C&E Haven (S) Pte Ltd
Salcon Biotech Pte. Ltd.
Salcon Water Technology Pte Ltd
Jollibean Foods Pte. Ltd.
|Present||BCO Environmental Pte. Ltd.
BIH Holdings Pte. Ltd.
Boustead Infrastructures Pte. Ltd.
Boustead International Heaters Pte. Ltd.
Boustead Knowledge Pte. Ltd.
Boustead Marketing & Management Services Private Limited
Boustead Maxitherm Energy Pte. Ltd.
Boustead Riau Petroleum Pte. Ltd.
Boustead Salcon Water Solutions Pte. Ltd.
Boustead Services Pte. Ltd.
Controls & Electrics Pte Ltd
Esri South Asia Pte Ltd
Finsome Pte. Ltd.
Geologic Private Limited
Kinnon Green Pte. Ltd.
Maxitherm Combustion Technologies Pte. Ltd.
Prevalent Technologies Pte Ltd
BIH Heaters Malaysia Sdn Bhd
Boustead Infrastructures (Labuan) Pte Ltd
Esri Australia Pty Ltd
Esri Australia Defence Pty Ltd
Geographic Business Systems Pty Ltd
Boustead International Heaters Limited
P.T. Boustead Maxitherm Industries
Salcon-Thai Co., Ltd.
Boustead Salcon Process Private Limited
Boustead International Heaters De Brasil Ltda