1 May 2009 09:30
1 May 2009
Cathay International Holdings Limited
('Cathay' or 'the Company')
Directorate Change
Cathay is pleased to announce the appointment of Mr Sum Soon Lim and Mr Toong Kenneth Ken Kwok to the Board of Directors with immediate effect. Mr Sum and Mr Toong were appointed by resolutions passed at the Company's Annual General Meeting on 30 April 2009.
Mr Sum has been appointed as non-executive chairman and will chair the Company's Audit and Remuneration Committees. He brings to the Board his expertise in the financial industry, having worked with the Singapore Economic Development Board, DBS Bank, J.P. Morgan Inc., Overseas Union Bank and Nuri Holdings (S) Pte Ltd, a private equity investment company, and served as a corporate adviser to Temasek Holdings and Singapore Technologies. Currently the Chairman and Director of Times Development, Mr Sum also sits on the boards of Singapore Press Holdings Limited, Singapore Health Services Pte Ltd., and Singapore Technologies Telemedia Pte Ltd. He was a member of the Singapore Securities Industry Council from 1998 to 2005. Mr Sum is also a director of Yantai Raffles Shipyard Ltd which operations are based in Yantai and which is the largest builder of semi-submersible drilling rigs in the China. Mr Sum holds a Bachelor of Science (Hons) in Production Engineering from the University of Nottingham in England.
Mr Toong, who has been appointed as an independent director,and a member of the Company's Audit and Remuneration Committees, has over 30 years of experience in the banking industry. He recently retired from Deutsche Bank AG where he held the position of Deputy Head of Asia and Head of North Asia, Private Wealth Management. Prior to joining Deutsche Bank, Mr Toong spent 22 years with J.P. Morgan with assignments in Singapore, New York, Toronto, Brussels and Hong Kong. He worked in various businesses including corporate credit and lending, operational services, investment banking and private banking. Mr Toong holds a BA degree in Microbiology and an MBA degree in Marketing and Finance from Southern Illinois University.
The Company confirms that Mr James Buchanan and Mr John Cosson resigned at the Annual General Meeting and did not offer themselves for re-appointment. The Board would like to thank Mr Buchanan and Mr Cosson for their hard work and wish them the best for the future.
Listing Rules Disclosures
Mr Sum Soon Lim holds, or has in the last five years held, the following directorships:
| DETAILS OF PRESENT DIRECTORSHIPS | ||||
| From | To | Company | Country of Incorporation | Role |
| 15 Jan 1996 | Present | Singapore Technologies Telemedia Pte Ltd | Singapore Private | Independent director |
| 1 Sept 1998 | Present | STT Communications Ltd | Singapore Public non-listed | Independent director Chairman, Audit Committee |
| 15 April 2000 | Present | Singapore Health Services Pte Ltd | Singapore (Government health care system) | Independent director Chairman, Audit Committee Member, Investment Committee Member, IT Committee |
| 1 Nov 2001 | Present | Singapore National Eye Centre Pte Ltd | Singapore (Government hospital) | Independent director |
| 1 Nov 2001 | Present | National Heart Centre of Singapore Pte Ltd | Singapore (Government hospital) | Independent director |
| 1 Nov 2001 | Present | Changi General Hospital Pte Ltd | Singapore (Government hospital) | Independent director |
| 1 Nov 2001 | Present | KK Women's & Children's Hospital Pte Ltd | Singapore (Government hospital) | Independent director |
| 5 Dec 2003 | Present | Singapore Press Holdings Limited | Singapore Public -listed | Independent director Member, Executive Committee |
| 1 April 2004 | Present | National Neuroscience Institute of Singapore Pte Ltd | Singapore (Government hospital) | Independent director |
| 1 Sept 2006 | Present | Times Development Pte Ltd | Singapore Private | Chairman & Non-executive director |
| 24 Jan 2007 | Present | Yantai Raffles Shipyard Ltd | Singapore Public -listed | Independent director Chairman, Audit Committee |
| DETAILS OF PAST DIRECTORSHIPS IN THE LAST 5 YEARS | ||||
| From | To | Company | Country of Incorporation | Role |
| 1 April 1999 | Feb 16, 2005 | Vertex Venture Holdings Ltd | Singapore public non-listed | Non-executive director Member, Audit Committee |
| 1 April 1999 | Feb 16, 2005 | Vertex Technology Fund (II) Ltd | Singapore Private | Non-executive director |
| 1 April 1999 | Feb 16, 2005 | Vertex Management (II) Pte Ltd | Singapore Private | Non-executive director |
| 6 Feb 2003 | Feb 16, 2005 | Asia Financial (Singapore) Pte Ltd | Singapore Private | Non-executive director |
| 10 April 2003 | Feb 16, 2005 | Asia Financial (Indonesia) Pte Ltd | Singapore Private | Non-executive director |
| 23 Oct 1998 | 1 August 2005 | CapitaLand Ltd | Singapore Public listed | Non-executive director Chairman, Risk Management Committee Member, Audit Committee |
| 1 Jan 1998 | Dec 31, 2005 | Securities Industry Council | Singapore Securities Industry Watchdog | Member |
| 23 Feb 1994 | 26 April 2006 | Chartered Semiconductor Manufacturing Ltd | Singapore Public listed | Non-executive director Member, Audit Committee |
| 12 Feb 2001 | 26 April 2006 | Green Dot Capital Pte Ltd | Singapore Private | Non-executive director Member, Audit Committee Member, Investment Committee |
| 9 Feb 2004 | 1 August 2006 | CapitaCommercial Trust Management Ltd | Singapore Public listed | Chairman & Non-executive director |
| 27 Dec 2002 | 25 August 2008 | PT Indosat Tbk | Indonesia Public listed | Commissioner Chairman, Risk Management Committee |
There are no details to be disclosed under paragraph 9.6.13 in respect of Mr Kenneth Ken-Kwok Toong.
There are no further details to be disclosed under paragraph 9.6.13 of the Listing Rules.
For further information please contact:
| Stephen Hunt | Cathay | Tel: +852 2828 9289 |