The Board of Directors of Micro-Mechanics (Holdings) Ltd. announced that Mr. Chow Kam Wing has given notice of his retirement and intention to relinquish his appointments as Chief Financial Officer (CFO) of the Company with effect from 31 January 2023. Upon stepping down from his executive positions, and as part of the Company's pre-determined succession planning process, Mr. Chow shall continue to be employed by the Company as an advisor for finance matters for a period of one year. This will ensure a smooth transition and handover to Ms. Wendy Tan Wei Lee who will step up from her current position as Financial Controller to become Vice President, Finance of the Group.

Ms. Tan has been working closely with Mr. Chow in the Group's finance department since she joined Micro-Mechanics in 2001. As Vice President, Finance, Ms. Tan will assume Mr. Chow's responsibilities for finance, accounting and internal control matters. Mr. Chow joined Micro-Mechanics as an accountant in 1996 and his numerous contributions to the Group saw him moving rapidly up the ranks.

He was appointed as Executive Director in January 2003 and Executive Vice President and CFO of the Group in 2007. During his 26 years with Micro-Mechanics, Mr. Chow was instrumental in its evolution from a small private company into a publicly-listed corporation with market capitalization that has grown almost 20 times to over S$350 million. Besides steadily strengthening the Group's finance and IT structures and processes, he played key roles in the Company's initial public offering on the Singapore Exchange in 2003, strengthening the Group's operations in Asia, as well as spearheading the implementation of the Group's Enterprise Resource Planning system.

In February 2008, Mr. Chow was recognised as Chief Financial Officer of the Year at the Singapore Corporate Awards. As Executive Director and Company Secretary, Mr. Chow also has undertaken a key role in listing compliance and corporate governance matters and is a valuable Board member. During his tenure, the Group has won over 30 awards in recognition of its high standards of corporate governance, quality of disclosure, transparency and investor relations.

The Board wishes to record its deepest appreciation to Mr. Chow for his dedication, valuable contributions and counsel to Micro-Mechanics, and wishes him well in his retirement.