Change - Announcement Of Appointment :: Redesignation Of Independent Non-Executive Director To Non-Independent Non-Executive Director

Mr Guok Chin Huat Samuel has served on the Board of the Company for more than nine years. He will therefore not be considered independent under Rule 210(5)(d)(iii) of the Listing Manual of the SGX-ST which took effect from 1 January 2022. As such, the Board, upon recommendation of the Nominating Committee, approved the re-designation of Mr Guok Chin Huat Samuel from Independent Non-Executive Director to Non-Independent Non-Executive Director of the Company with effect from 1 January 2022.

Mr Guok Chin Huat Samuel had abstained from the deliberations and decision-making in relation to the aforesaid re-designation. Following his redesignation, Mr Guok will remain as member of Remuneration, Audit and Nominating Committees. Mr Yee Kit Hong has been appointed chairman of the Remuneration Committee.

At the upcoming general meeting, the Company intends to seek approval of Mr Guok's appointment as an independent director of the Company from (a) all shareholders; and (b) all shareholders, excluding directors, chief executive officer and their associates, in accordance with Rule 210(5)(d)(iii). Upon receipt of the aforesaid approval, Mr Guok will be redesignated as Independent Director of the Company and reinstated as Chairman of the Remuneration Committee.