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Oct 30, 2024

Change - Announcement Of Appointment Of Non-Executive And Independent Director

Announcement Title Change - Announcement of Appointment
Date & Time of Broadcast Oct 30, 2024 22:20
Status New
Announcement Sub Title Appointment of Non-Executive and Independent Director
Announcement Reference SG241030OTHRWXDP
Submitted By (Co./ Ind. Name) Catherine Yeo
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) Appointment of Non-Executive and Independent Director and a member of the Audit, Risk and Compliance Committee ("ARCC") of each of Frasers Hospitality Asset Management Pte. Ltd. ("FHAM"), the manager of Frasers Hospitality Real Estate Investment Trust, and Frasers Hospitality Trust Management Pte. Ltd. ("FHTM" and together with FHAM, the "Managers"), the trustee-manager of Frasers Hospitality Business Trust.
Additional Details
Date Of Appointment 01/11/2024
Name Of Person Chang Tou Chen
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 Chang has more than 20 years of experience in the banking and finance industry. He was with The Hongkong and Shanghai Banking Corporation Limited for 11 years where he last held the position of Managing Director, Head of Banking South East Asia. Prior to that, Mr Chang had worked for Citigroup and Schroders Investment Banking in various positions.

From 2017 to 2020, Mr Chang also served as a Non-Executive and Independent director of Frasers Commercial Asset Management Ltd. ("FCOAM"), the manager of Frasers Commercial Trust, a real estate investment trust that was listed on the Main Board of SGX-ST, but has since April 2020 been delisted and has merged with Frasers Logistics & Industrial Trust (now known as Frasers Logistics & Commercial Trust). Mr Chang was also the chairman of the Audit, Risk & Compliance Committee and a member of the Nominating and Remuneration Committee of FCOAM from July 2019 until April 2020.

After having considered the qualifications, expertise and experience of Mr Chang, and with the Nominating and Remuneration Committee's recommendation, the Board of each of the Managers approved the appointment of Mr Chang as a Non-Executive and Independent Director of each of the Managers. The Board is of the view that the appointment of Mr Chang as a director would provide further diversity to the core competencies and skill set of the Board. The Board considers Mr Chang to be independent for the purposes of Rule 704(8) of the Listing Manual of the SGX-ST.
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 and Independent Director, member of the ARCC
Professional qualifications -
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 Managing Director, Head of Global Banking South East Asia, The Hongkong and Shanghai Banking Corporation Limited
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) Non-Executive and Independent Director, Frasers Commercial Asset Management Ltd. (manager of Frasers Commercial Trust)
Present Non-Executive Director, Samudrau Capital Partners Management Limited
(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 Chang served as a board member of Frasers Commercial Asset Management Ltd. (manager of previously SGX-listed Frasers Commercial Trust) from March 2017 to April 2020.

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