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

Mr Phang Sin Min has more than 30 years of experience in the investment management industry, particularly in portfolio strategy and risk, investment and asset management, real estate and private equities in the Americas, Europe and Asia.

After having considered the credentials, experience and independence of Mr Phang, the Board, with the recommendation of the Nominating and Remuneration Committee, approved the appointment of Mr Phang as a Non-Executive and Independent Director of Frasers Logistics & Commercial Asset Management Pte. Ltd. Mr Phang is also appointed as a member of the Audit, Risk and Compliance Committee.

The Board is of the view that Mr Phang's experience would provide further diversity to the core competencies and skill set of the Board. The Board also considers Mr Phang to be independent for the purposes of Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited.