The board of Chuan Holdings Limited announced that Mr. Phang Yew Kiat will be re-designated from a non-executive director to an executive director with effect from 1 January 2024. Mr. Phang will be the executive chairman of the board and continue to act as the chairman of the nomination committee. Mr. Phang Yew Kiat, aged 55, joined the company as an independent non-executive Director on 10 May 2016 and was re-designated as a non-executive Director and appointed as the chairman of the Board on 16 October 2020.

Mr. Phang was also appointed as the chairman of the Nomination Committee on 19 April 2021 and will be re-designated as an executive Director with effect from 1 January 2024. Mr. Phang has over 28 years of experience in banking and managerial roles. He began his career with Standard Chartered Bank in 1994.

Over his 28 years career in banking and managerial roles, Mr. Phang held various management roles across Standard Chartered Bank's corporate and consumer banking businesses, and was appointed as the chief financial officer and the general manager for small medium enterprises in Indonesia, Singapore and Malaysia. In 2005, Mr. Phang was seconded to China to build a brand-new national joint-stock commercial bank with its headquarter set up in Tianjin - China Bohai Bank, where he served as an executive director and the deputy chief executive officer with full responsibilities for the consumer banking business. Since July 2016, Mr. Phang has been a co-founder, the chairman and a non-executive director of Acore Capital Investments, a Monetary Authority of Singapore Capital Market Services licensed company.

Mr. Phang graduated from the Faculty of Technology of the University of Manchester Institute of Science and Technology in July 1993 with a Bachelor's Degree in Engineering in Microelectronic Systems Engineering. He also obtained a Master's Degree in Business and Administration in International Business from the University of Bristol in June 1995. Mr. Phang was a member to United Nation - Economic and Social Commission for Asia and the Pacific (ESCAP) Business Advisory Council till May 2023.

From July 2014 to April 2020, Mr. Phang was an executive director, the vice chairman and the chief executive officer of Chong Sing. The principal businesses of Chong Sing were the provision of traditional financing services and related financing consultancy services including entrusted loan services, real estate-backed loan services, pawn loan services, other loan services and microfinance loan services, and internet financing services including third party payment services, online investment and technology-enabled lending services and related activities on loan portfolio management, as well as the provision of social gaming services, IT solution services, and exhibition services.