Item 5.02 Departure of Directors or Certain Officers: Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 1, 2021, Mr. CHEAH, Kok Hoong ("Mr. Cheah") and Mr. LOUIS, Ramesh Ruben
("Mr. Louis") were appointed as Independent Non-Executive Director of the Board
of Directors (the "Board") and Mr. TAN, Hock Chye ("Mr. Tan") as the Chief
Financial Officer, respectively, of SEATech Ventures Corp. (the "Company"),
effective immediately.
The biographies for the new Independent Non-Executive Directors and Chief
Financial Officer of the Company are set forth below:
Mr. CHEAH, Kok Hoong
Mr. Cheah, aged 55, is a former Group Chief Executive Director of Hitachi Sunway
Information System, better known as Hitachi Sunway, that thrived in providing
ICT and digital solutions and services in ASEAN. Mr. Cheah's career span over 30
years and have garnered experience across various industries including business
development, mergers and acquisition, business strategy development, regional
expansion, and process engineering across various verticals such as information
technology, venture capital, conglomerates, manufacturing, and the service
industry. Additionally, he holds various professional positions which includes
the IT advisor to the Sunway Group, Director of Powerware Systems, and General
Partner of Sun SEA Capital. Mr. Cheah is also the Honorary Chairman of the
Malaysia Cross Border e-Commerce Association (MCBEA) since 2019, as well as a
Member of the Associated Chinese Chambers of Commerce and Industry of Malaysia
(ACCCIM) under the Finance and Capital Market Consultative Committee since 2018.
He is currently the Executive Chairman of SteerQuest Sdn Bhd, Managing Director
of SQ Digital Vision Group Sdn Bhd and the Chief Executive Officer of Cognitive
Digital Sdn Bhd. In addition, he is also an Advisor for the Aerospace
Engineering Edutech, Angkasa-X Holding.
Mr. Cheah also serves as an Industrial Advisory Board (IAB) member on both
SoftwareONE and Sunway University, where he is dedicated to his role as the
Sunway University Business School's Adjunct Practice Professor. Furthermore, he
is also an IAB member on various boards within Sunway University itself,
including the Department of Computing and Information Systems, the School of
Science and Technology, specifically the Research Centre for Nano-Materials and
Energy Technology. In addition, Mr. Cheah is also an External Industry Committee
Member for Master of Business Analytics in the Department of Business Analytics.
Mr. Cheah is also an instrumental force that has been driving the growth of the
Malaysian ICT industry as he is had also previously served as the Chairman of
PIKOM (The National Tech Association of Malaysia) between 2013 to 2015 as well
as the Chairman of Human Capital Development, a Chapter within PIKOM. As of
today, he is a renowned advisor to PIKOM's various sectors and initiatives,
namely Cybersecurity, Venture Investment, and the World Congress on Information
Technology (WCIT). On top of that, he also serves as the Chairman of OM
(formerly known as Outsourcing Malaysia) in PIKOM.
Mr. Cheah's past achievements include his induction into the PLC Hall of Fame
for his leadership and stewardship in promoting the PLC Leadership programme as
part of the National ICT Certification & Standardization Grid (NICS Competence
Grid), and the conferment of PIKOM's CIO Excellence Award for his outstanding
leadership in the ICT adoption in Sunway Group.
Mr. Cheah holds a Bachelor of Science in Computer Science & Physics from
Campbell University, USA and Tunku Abdul Rahman University College, Malaysia,
since 1990.
Mr. Cheah does not have any family relationships with any of the Company's
directors or executive officers, or any person nominated or chosen by the
Company to become a director or executive director. Mr. Cheah is not a party to
any transactions listed in Item 404(a) of Regulation S-K.
As compensation for services as an independent non-executive director, Mr. Cheah
shall receive a monthly fee of $500 in cash payable monthly, commencing on July
1, 2021.
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Mr. LOUIS, Ramesh Ruben
Mr. Louis, age 44, is a Chartered Accountant of the Malaysian Institute of
Accountants (MIA), a fellow member of Association of Chartered Certified
Accountants (FCCA), a chartered member of the Institute of Internal Auditors, as
well as a Certified Financial Planner. Mr. Louis has over 20 years of experience
in accounting, auditing and risk management ranging from large public listed
companies to multinational corporations, government agencies as well as SME's in
a spectrum of industries including plantation, property development,
manufacturing, trading, IT, shipping, retailing, etc. He started his career at
Arthur Andersen, and subsequently moved to BDO. He also has experience in
corporate finance with Southern Investment Bank Berhad. Mr. Louis has hands-on
experience on other corporate exercises such as due diligence, IPO's, issuance
of bonds, corporate & debt restructuring and investigative audit. His training
and advisory experience includes topics on Internal & Statutory Auditing, Public
Sector/Government Audits, Value-for-Money Audits, ISQC 1, Risk Management &
Internal Controls, Review and Assurance Engagements such as Financial Due
Diligence, Forecasts & Projections, Forensic & Fraud Accounting/Auditing, as
well as practical application of International Financial Reporting Standards
("IFRS"), Reporting Standards for SMEs (MPERS/PERS) and public sector accounting
(MPSAS). He has facilitated training and provided advisory for public
accountants across Asia Pacific, multinationals and public sector institutions.
Mr. Louis is a certified trainer by the Human Resource Development Fund (HRDF),
Ministry of Human Resources Malaysia.
Mr. Louis graduated from National University of Malaysia with a bachelor's
degree in Accounting. He earned an MBA from the University of Strathclyde,
United Kingdom, graduated with a distinction in 2012. He is currently pursuing
his Doctor of Philosophy in University of Malaya.
Mr. Louis does not have any family relationships with any of the Company's
directors or executive officers, or any person nominated or chosen by the
Company to become a director or executive director. Mr. Louis is not a party to
any transactions listed in Item 404(a) of Regulation S-K.
As compensation for services as an independent non-executive director, Mr. Louis
shall receive a monthly fee of $500 in cash payable monthly, commencing on July
1, 2021.
Mr. TAN, Hock Chye
Mr. Tan, age 62, is the current Councillor of The National Tech Association of
Malaysia (PIKOM), Treasurer of WCIT 2020 Sdn. Bhd. (WCIT is World Congress on
Information Technology) and National Treasurer and Council Member of Malaysia
Cross Border E-Commerce Association.
Mr. Tan is a Chartered Global Management Accountant of the Association of
International Certified Professional Accountants, and a Fellow Member of the
Chartered Institute of Management Accountants, United Kingdom, as well as a
Chartered Accountant with the Malaysian Institute of Accountants. In 1997, Mr.
Tan obtained his Master's Degree in Business Administration (MBA) from Oklahoma
City University, United States of America and he attended Harvard Premier
Management Program organized by the Harvard Business School Alumni Club of
Malaysia in 2013.
Mr. Tan has more than 35 years of extensive working experience in both private
and public companies in Papua New Guinea, Singapore and Malaysia. The public
companies that he has worked for includes Dataprep Holdings Berhad (Bursa
Malaysia) as Chief Financial Officer, Chief Operating Officer and Group Managing
Director from 2003 to 2018, United Engineers (M) Berhad (Bursa Malaysia) as
Head, Finance and Accounting of Trading Division from 1991 to 1994, Malaysian
subsidiary of PZ Cussons plc (London Stock Exchange) as Accounting Manager/Local
Agent from 1989 to 1991 and the Malaysian associated company of Chuan Hup
Holdings Ltd (Singapore Stock Exchange) as Company Accountant/Secretary from
1986 to 1989. Private Companies that Mr. Tan has worked for includes Wardah
Communication Sdn. Bhd. as Chief Business Officer from 2018 to 2019, Ken-Air
Holdings Sdn. Bhd. as Financial Controller and Chief Executive Officer from 1994
to 2003 and Word Publishing Co. Pty. Ltd. as Management Accountant and Chief
Accountant from 1982 to 1985.
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Mr. Tan does not have any family relationships with any of the Company's
directors or executive officers, or any person nominated or chosen by the
Company to become a director or executive director. Mr. Tan is not a party to
any transactions listed in Item 404(a) of Regulation S-K.
Mr. Tan beneficially owns 1,000,000 shares of the Company's common stock which
his ownership represents one percent (1%) of the Company's issued and
outstanding shares as of the date hereof.
As compensation for services as a Chief Financial Officer, Mr. Tan shall receive
a monthly fee of $1,250 in cash payable monthly, commencing on July 1, 2021.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Independent Non-Executive Director Agreement, dated July 1, 2021.
10.2 Independent Non-Executive Director Agreement, dated July 1, 2021.
10.3 Chief Financial Officer Agreement, dated July 1, 2021.
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