Pan Hong Holdings Group Limited announced that Mr. Sim Wee Leong will be retiring as a Director of the Company pursuant to Bye-Law 86(1) of the Bye-Laws of the Company at the conclusion of the Annual General Meeting to be held on 28 July 2023 ("AGM"). Mr. Sim Wee Leong has served as an Independent Director of the Company for more than nine years from the date of his first appointment. In the spirit of good corporate governance, Mr. Sim Wee Leong is not seeking re-election.

Accordingly, Mr. Sim Wee Leong shall also retire as the Lead Independent Director of the Company, chairman of the Audit Committee ("AC") and members of the Remuneration Committee ("RC") and Nominating Committee ("NC") at the conclusion of the AGM. Concurrently, Mr. Ng Kheong Khoon, an Independent Director of the Company, will be appointed as the Lead Independent Director of the Company, Chairman of the AC, and members of the RC and NC. The Board would like to express its heartfelt gratitude to Mr. Sim Wee Leong for his contributions and efforts driving the growth of the Group over the years.