Consent To Act As Director

THE COMPANIES ACT (CHAPTER 50) SECTION 146(1A)(a)

CONSENT TO ACT AS DIRECTOR AND STATEMENT OF NON DISQUALIFICATION TO ACT AS DIRECTOR

(a) I am not disqualified from acting as a director, in that:
  (i) I am not below 18 years of age and that I am otherwise offull legal capacity.
  (ii) Within a period of 3 years preceding the date of thisstatement I have not had any disqualification order made by the High Court ofSingapore against me under section 149A(1) of the Companies Act (“theAct”).
  (iii) Within a period of 5 years preceding the date of thisstatement I have not had any disqualification order made by the High Court ofSingapore against me under section 149(1) or 154(2) of the Act.
  *(iv) That within a period of 5 years preceding the date ofthis statement I have not been convicted whether within or without Singapore,of any offence –
    (A) in connection with the promotion, formation or managementof a corporation;
    (B) involving fraud or dishonesty punishable on convictionwith imprisonment for 3 months or more; or
    (C) under section 157 (failure to act honestly and diligentlyas a director or making improper use of company information for gain) orunder section 339 (failure to keep proper company accounts books) of the Act.
  *(v) That within a period of 5 years preceding the date ofthis statement I have not been convicted, in Singapore or elsewhere, of anyoffence involving fraud or dishonesty punishable on conviction withimprisonment for 3 months or more.
  (vi) That –
    (A) I have not been convicted of 3 or more offences under theAct in relation to the requirements on the filing of returns, accounts orother documents with the Registrar of Companies and have not had 3 or moreorders of the High Court of Singapore made against me under section 13 or 399of the Act in relation to such requirements;
    (B) the last of any such conviction did not take place or thelast of any such order was not made during the period of 5 years precedingthe date of this statement; and
    (C) I am not an undischarged bankrupt under section 148(1) ofthe Act and I am not debarred under section 155B from acting as an alternatedirector of the company.
  (vii) By virtue of the foregoing I am not disqualified fromacting as a director of the above named company.
(b) I am aware of and undertake to abide by my duties,responsibilities and liabilities specified in the Act as well as under thecommon law where applicable, including the following key administrative andsubstantive duties, that is, to:
  (i) discharge my responsibilities in the company;
  (ii) ensure that I have a reasonable degree of skill andknowledge to handle the affairs of the company;
  (iii) act honestly and be reasonably diligent in discharging myduties and act in the interest of the company without putting myself in aposition of conflict of interest;
  (iv) employ the powers and assets that I am entrusted with forthe proper purposes of the company and not for any collateral purpose;
  (v) ensure that the company and I comply with all therequirements and obligations under the Act including those in respect ofmeetings, requisitions, resolutions, accounts, reports, statements, recordsand other documents on the company, filing and notices and any otherprerequisites; and
  (vi) account to the shareholders for my conduct of the affairsof the company and make such disclosures that are incumbent upon me under theAct.
(c) I confirmed that the source of funds for the business andfor the share capital to be injected are always not derived from and shallnot be used for any illegal activities (e.g. money laundering, tax evasion,terrorist financing, drug trafficking and etc) or any activities that are incontravention of the laws of any country or territory. Besides, I confirmedthat I am not a Politically exposed person in any country or territory and amnot a citizen or in connection with (e.g. having business) or born in thecountries which is under the US Sanctions list or United Nations SecurityCouncil Sanctions List.
(d) I, as an executive director of the abovenamedcompany,  acknowledge and confirmthat:-
  (i) I am not a nominee who is accustomed or under anobligation whether formal or informal to act in accordance with thedirections, instructions or wishes of any other person.
  (ii) The Company secretary will not be responsible for thebusiness operations and management of the Company.
  (iii) I understand that AI Accountant Pte. Ltd., its namedsecretary is required to perform “On-going Monitoring” as required by theAccounting and Corporate Regulatory Authority (Filing Agents and QualifiedIndividuals) Regulations 2015 (“Regulations”). I will fully indemnify andhold AI Accountant harmless from any loss, cost or damages in respect thereofto fulfil the requirement of On-going monitoring as AI Accountant is notinvolved in the operations and management of the Company and they will havelimited authority to perform any such monitoring including reviewing of everysingle supporting documents for all banking transactions as required by theRegulations.     
  (iv) I will perform the On-going Monitoring to identify any ofthe following situations and highlight them to the company secretary:     
– Complex or unusually large transactions or unusual patterns oftransactions that have no apparent or visible economic or lawful purpose
– Suspicious transactions involving Political Exposed Persons
– Unrealistic turnover in business’s accounts.
– Unusual/ uneconomical movement of funds
-Setup of companies in Singapore with no apparent business and low paid upcapital.
– If there is no physical business operation addresses.
– Multiple bank accounts opened with various banks for noapparent economic or business reasons.     
    – Frequent large incoming remittances into bank accountsfrom different individuals and companies, located mainly overseas with nosupporting documents.
    – After receipt of funds in the bank accounts, the funds are usually moved outof Singapore within the next few days without valid reasons. These bankaccounts generally have low balances.
    – Transaction patterns in the bank accounts are often not inline with the company’ principal business.
    – Any other suspicious transactions relating to money laundering or terrorismfinancing.
(e) By engaging the services of AI ACCOUNTANT toincorporate and/or act as the secretarial agent of the company which I willact/am acting as a director, I am deemed to have read and understood theabove statements before I execute any board resolution on my appointment orservices engagement agreement with AI ACCOUNTANT and I confirm that thestatements are true. I am also aware that I can be prosecuted in Court if Iwilfully give any false information or declaration.