Change - Announcement Of Appointment :: Re-Designation Of Non-Executive And Non-Independent Director To Independent Director

The NC and the Board, having reviewed the independence of Mr Lee Teck Meng Stanley, are of the view that he is independent in character and judgement, for the purposes of Catalist Rule 704(7) and the Code of Corporate Governance, and there are no circumstances which would likely affect or appear to affect his judgement.

His familial relationship, as a nephew of Mr Lim Kee Liew @ Victor Lim (the Group s Executive Chairman, Chief Executive Officer and Managing Director) and his spouse, Ms. Leong Lai Heng (a Controlling Shareholder and a Director of the subsidiaries of the Company) is not deemed as an immediate family member for the purposes of the Code of Corporate Governance. His familial relationship does not interfere, or be reasonably perceived to interfere, with the exercise of his independent business judgement with a view to the best interests of the company.