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Announcement Of Appointment Of Chief Executive Officer / Executive Director

BackJan 29, 2009
Appointment Details
Date of Appointment 29/01/2009
Name Yong Yean Chau
Age 42
Country of principal residence Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) Mr Yong Yean Chau was appointed as the Acting Chief Executive Officer on 23 December 2008 and having reviewed his performance, the Board is pleased to confirm Mr Yong Yean Chau's appointment as the Chief Executive Officer of Parkway Trust Management Limited ("the Company"). In line with his new role as CEO, Mr Yong has been appointed as an executive director of the Company.
Whether appointment is executive, and if so, area of responsibility Executive, the CEO of the Manager works with the Board to determine the strategy for Parkway Life REIT and also works with the other members of the Manager's management team to ensure that Parkway Life REIT is operated in accordance with the Manager's stated investment strategy. Additionally, the CEO is responsible for planning the future strategic development of Parkway Life REIT. The CEO is also responsible for strategic planning, the day- to- day operations of Parkway Life REIT and working with the Manager's investment, asset management, financial and compliance personnel in meeting the strategic, investment and operational objectives of Parkway Life REIT. The CEO is further responsible for facilitating communications and liaison with Unitholders. This includes regular statutory reporting, such as producing annual reports to Unitholders, and reporting to the SGX-ST in compliance with Listing Manual. The principal objective of the CEO is to provide exceptional service to Unitholders by maintaining continuous disclosure and transparent communications with Unitholders and the market. The CEO facilitates and coordinates the formulation of strategic plans focused on the creation of value for Unitholders, and in promoting and marketing Parkway Life REIT to Unitholders prospective investors and the media through regular communications, roadshows, events and a website.
Job Title Chief Executive Officer / Executive Director
Working experience and occupation(s) during the past 10 years 1) Parkway Trust Management Limited - Chief Financial Officer (1 Feb 2008 - present)
2) Singapore Tourism Board - Chief Financial Officer (Nov 2002 - Jan 2008)
3) Ascendas Pte Ltd - Chief Financial Officer (Jan 2000 - Oct 2002)
4) Singapore-Suzhou Township Devt Pte Ltd - Chief Financial Officer (Jun 1998 - Oct 2002)
5) China-Singapore Suzhou Devt Pte Ltd - Financial Controller (Jun 1998 - Dec 2000)
6) Arcasia Pte Ltd - Finance Manager (Jun 1996 - May 2000)
Shareholding in the listed issuer and its subsidiaries Nil
Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries Nil
Conflict of interest Nil
Other Directorship
Past (for the last five years) Nil
Present 1) Parkway Life MTN Pte. Ltd.
2) Matsudo Investment Pte. Ltd.
3) Parkway Life Japan2 Pte. Ltd.
4) Parkway Life Japan3 Pte. Ltd.
5) Nibble Gobble Holdings Pte Ltd
6) Hiap Tong Corporation Ltd
Information required pursuant to Listing Rule 704(7)(h)
a. Whether at any time during the last 10 years, a petition under any bankruptcy laws of any jurisdiction was filed against him or against a partnership of which he was a partner? No
b. Whether at any time during the last 10 years a petition under any law of any jurisdiction was filed against a corporation of which he was a director or key executive for the winding up of that corporation on the ground of insolvency? No
c. Whether there is any unsatisfied judgement 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 for 3 months or more, or has been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) 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 been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such breach? No
f. Whether at any time during the last 10 years, judgement 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, misinterpretation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings which he is aware of involving an allegation of fraud, misinterpretation 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 corporation? No
h. Whether he has ever been disqualified from acting as a director of any corporation, or from taking part directly or indirectly in the management of any corporation? No
i. Whether he has ever been the subject of any order, judgement 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, No
  in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust?  
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
Information required pursuant to Listing Rule 704(7)(i)
  Any prior experience as a director of a listed company? No
  If yes, please provide details of prior experience.
An orientation programme will be conducted to familarize Mr Yong on his role & responsibilities as a director of the manager of a public listed REIT in Singapore. He will also be invited to participate in relevant seminars and/or discussions.
Other Notes
Footnotes Note:

Citigroup Global Markets Singapore Pte. Ltd. and UBS AG, acting through its business group, UBS Investment Bank were the joint global co-ordinators, joint bookrunners and joint lead underwriters to the initial public offering of Parkway Life REIT.