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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jan 31, 2024 17:52 |
| Status | New |
| Announcement Sub Title | Appointment of Lui Chong Chee as Non-Executive Independent Director |
| Announcement Reference | SG240131OTHR7VYZ |
| Submitted By (Co./ Ind. Name) | Karen Chan |
| Designation | Company Secretary, CapitaLand Ascott Trust Management Limited |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Lui Chong Chee as Non-Executive Independent Director. |
| Additional Details | |
| Date Of Appointment | 01/02/2024 |
| Name Of Person | Lui Chong Chee |
| Age | 63 |
| 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 board of CapitaLand Ascott Trust Management Limited (the Manager of CapitaLand Ascott Real Estate Investment Trust) and the board of CapitaLand Ascott Business Trust Management Pte. Ltd. (the Trustee-Manager of CapitaLand Ascott Business Trust) (collectively the "Boards") have each appointed Mr Lui Chong Chee as director, taking into consideration the current size and composition of the Boards, including the diversity of skills, knowledge and experience. Mr Lui's financial, hospitality, management and corporate leadership experience in major listed companies will provide and complement the diversity of skill-sets which are relevant for the Boards, and his perspectives will contribute to the Boards' deliberations. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Independent Director |
| Professional qualifications | 1. Bachelor of Science in Business Administration, New York University, United States 2. Master of Business Administration, New York University, United States 3. Advanced Management Program, Harvard Business School |
| 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 | 1 September 2014 to 31 December 2019 Managing Director and Chief Executive Officer, Far East Orchard Limited, Singapore 1 January 2011 to 1 March 2014 Group Chief Financial Officer, Raffles Medical Group Limited, Singapore |
| 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 Details | 1,000,000 stapled securities in CapitaLand Ascott Trust |
| # 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) | Far East Orchard Limited - Group CEO & Managing Director and Executive Director |
| Present | CapitaLand Malaysia REIT Management Sdn. Bhd. (CMRM), the manager of CapitaLand Malaysia Trust - Chairman of the Board and Non-Executive Independent Director (to cease with effect from 1 February 2024) |
| (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; or | No |
| (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; or | No |
| (iii) 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 |
| (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 an issuer listed on the Exchange? | Yes |
| If Yes, Please provide details of prior experience | Mr Lui Chong Chee was formerly a director of CapitaLand Ascott Trust Management Limited (then known as Ascott Residence Trust Management Limited, the manager of Ascott Residence Trust) from June 2008 to May 2010. He also served as a director of the following companies: 1. Far East Orchard Limited (September 2014 to December 2019) 2. CapitaMall Trust Management Limited, the manager of CapitaMall Trust (November 2001 to June 2005 and November 2008 to February 2010) 3. CapitaChina Trust Management Limited, the manager of CapitaChina Trust (June 2008 to May 2010) 4. CapitaCommercial Trust Management Limited, the manager of CapitaCommercial Trust ("CCT") (February 2004 to June 2005 and July 2008 to May 2010). CCT was delisted from the Official List of the Singapore Exchange Securities Trading Limited ("SGX-ST") on 3 November 2020. 5. Raffles Holdings Limited ("RHL") (July 2002 to March 2007). RHL was delisted from the Official List of SGX-ST on 13 December 2006. |
| Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable) | NA |