The board of directors of New Toyo International Holdings Ltd. has announced the following changes to the board and key management. Mr. Yen Wen Hwa has been appointed a Director and Non-Executive Chairman of the company with effect from 1 September 2016. By way of background, Mr. Yen Wen Hwa is the founder of the Group.

He was the Executive Chairman and Managing Director of the Group from the time of listing of the company on the Singapore Exchange Securities Trading Limited in 1997. He relinquished his executive functions in 2008 and remained the Non-Executive Chairman until he stepped down from the Board in 2011. He is currently the Executive Chairman of Tien Wah Press Holdings Berhad (TWPH).

In conjunction with Mr. Yen Wen Hwa's appointment as Non-Executive Chairman of the company, Ms. Angela Heng Chor Kiang has stepped down as Executive Chairman and has been appointed the Group Chief Executive Officer with effect from 1 September 2016. She remains an Executive Director of the company. Mr. Lionel Yap Chee Cheong's designation Head of Business Specialty Papers has been renamed Chief Executive Officer (Specialty Papers) with effect from 1 September 2016.