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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jan 30, 2023 17:24 |
| Status | New |
| Announcement Sub Title | Appointment of Chief Executive Officer - Designate |
| Announcement Reference | SG230130OTHRP6IQ |
| Submitted By (Co./ Ind. Name) | Heng Michelle Fiona |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Chief Executive Officer - Designate |
| Additional Details | |
| Date Of Appointment | 01/02/2023 |
| Name Of Person | Conson Tiu Sia |
| Age | 55 |
| 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) | Mr Conson Tiu Sia is currently a Senior Vice President of the Company. The Nominating Committee ("NC") has reviewed the qualification, experience, capabilities of Mr Sia and recommended his appointment as Chief Executive Officer-Designate ("CEO-Designate") to the Board. The Board, having considered the NC's recommendation, the qualification and experience of Mr Sia and his familiarity with the Group's business and operations, is satisfied that he is suitable for the role and approved the appointment of Mr Sia as the CEO-Designate with effect from 1 February 2023. |
| Whether appointment is executive, and if so, the area of responsibility | Executive. Mr Sia will oversee the commercial and business operations of the Stamford Tyres Group. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Executive Officer - Designate |
| Professional qualifications | Certified Public Accountant (Philippines) Degree in Accountancy, University of Santo Tomas, Philippines |
| 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 | None |
| Conflict of interests (including any competing business) | None |
| Working experience and occupation(s) during the past 10 years | Mr Conson Tiu Sia joined the Stamford Tyres Group in 1993. He was in charge of the Philippines operations prior to his appointment as Group Finance Manager in 1999. He was the Group's Chief Financial Officer ("CFO") from 1 August 2001 to September 2013. On 1 October 2013, Mr Sia relinquished his CFO appointment to focus on his continuing role as a Group Senior Vice President ("SVP") as the SVP, Head of South Africa. In July 2019, he took over as SVP, Head of Malaysia and additionally the appointment as Head of Singapore from May 2022 to present. |
| 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 | Direct interest - 343,000 shares in Stamford Tyres Corporation Limited Deemed interest - 77,000 shares in Stamford Tyres Corporation Limited through OCBC Nominees Singapore Private Limited |
| # 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) | None |
| Present | 1. Stamford Tyres International Pte Ltd 2. Stamford Tyres (M) Sdn Bhd 3. STC Tyre Mart Sdn Bhd 4. STC Tyres (Malaysia) Sdn Bhd 5. SR Industries (M) Sdn Bhd 6. PT Stamford Tyres Indonesia 7. Real Courage Limited 8. Orizz (Shanghai) Limited 9. Stamford Tyres Australia Pty Ltd 10. Stamford Tyres (Africa) Pty Ltd 11. Falken Tyre India Private 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; 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? | 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 | Not applicable |
| 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) | Not applicable |