The Board of Chip Eng Seng Corporation Ltd. having considered the recommendation of the Nominating Committee ("NC"); and Professor Yaacob's qualifications and experience, is of the view that Yaacob Bin Ibrahim has the requisite track record, experience and capabilities to assume the responsibilities as an non-executive Independent Director, Nominating Committee Chairman and Audit and Risk Committee member of the Company, provide insight and guidance to the expansion of the Group's businesses and provide the Board with different perspectives during board discussions. The company also announced the formation of an Investment Committee with the following composition: Prof Low Teck Seng, Independent Director (Chairman); Mr. Ang Mong Seng, Lead Independent Director; Mr. Abdul Jabbar Bin Karam Din, Independent Director; and the following changes to the composition of the Audit and Risk Committee (as renamed from Audit Committee), Nominating Committee and Remuneration Committee: Audit and Risk Committee: Dr. Neo Boon Siong, Independent Director (Chairman); Mr. Abdul Jabbar Bin Karam Din, Independent Director; Mr. Lock Wai Han, Independent Director; and Prof Yaacob Bin Ibrahim, Independent Director. Nominating Committee: Prof Yaacob Bin Ibrahim, Independent Director (Chairman); Mr. Ang Mong Seng, Lead Independent Director; Mr. Lock Wai Han, Independent Director; and Prof Low Teck Seng, Independent Director. Remuneration Committee: Mr. Ang Mong Seng, Lead Independent Director (Chairman); Mr. Abdul Jabbar Bin Karam Din, Independent Director; and Prof Low Teck Seng, Independent Director. The company also announced that Ms. Toh Li Ping, Angela is appointed as Joint Company Secretary of the Company.