The Board of Directors of AA Group Holdings Ltd. announced that the company has completed the purchase of the Sale Shares under the conditional Sale and Purchase Agreement with Poh Huat Heng Corporation Pte. Ltd. The Company updated that the Proposed Acquisition was completed on 17 December 2018 and PHH has become a wholly-owned subsidiary of the Company. Following the completion, the Board announced that Mr. Tan Poh Guan has been appointed as the Executive Director of the Company, and Mr. Lee Chong Yang has been re-designated from his current appointment of Chairman to be Lead Independent Director of the Company.