Change - Announcement Of Cessation :: Cessation Of Mr Zhu Xiaolin As Group President And Executive Director

Mr Zhu Xiaolin will be redesignated as a Non-Executive Officer due to his family commitment.

The day-to-day operations of Golden Land Real Estate Development Co., Ltd. ("Golden Land") are carried out by the management team of Golden Land and the General Manager of Golden Land reports to its Board of Directors. Mr Zhu and Joseph are directors of Golden Land and Mr Zhu will remain as a director after his proposed cessation as Executive Director and Group President of ETC. Golden Land Board of Directors in turn reports to ETC Board of Directors.

Based on its enquires, the Company's sponsor, RHT Capital Pte. Ltd., is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr Zhu Xiaolin as Group President and Executive Director of the Company.