The NC supports the appointments of Mr. Gary Xie and Mr. Andy Guoyuan Xie as Joint Managing Directors for purpose of succession planning. The NC has reviewed Mr. Andy Xie's qualifications and experience, particularly his working experience in the Group and his in-depth knowledge of the Group's business and recommends his appointment as Joint Managing Director. The Board views the appointment as in the interest of the Company and approves the NC's recommendation.

Role And Responsibilities: Executive. Overall in charge of the management of the business, operations and investments for the Group. Job Title: Joint Managing Director.

Working Experience Director of Operations, Bonvests Holdings Limited from June 2010 to May 2016 Executive Director, Bonvests Holdings Limited from June 2016 to Present. Conflict Of Interest: Mr. Andy Xie is a Director of Allsland Pte Ltd. which has other property interests. The Company requires directors to declare their shareholdings and/or directorship in other companies and a director will abstain from voting on any transaction where he might have a conflict of interest.

Professional Qualifications: Bachelor of Science in Commerce Master of Science in Computer Information Systems Ordinary Member, Singapore Institute of Directors.