Polytec Asset Holdings Limited announced that Prof. Dr. Teo Geok Tien Maurice has been appointed as an independent non-executive director of the company with effect from December 14, 2012. Prof. Teo is the Chairman of the Council of the International Institute of Management. He has over 40 years experience in various businesses and industries, including electronics and semiconductors, toys, telecommunications, construction etc. He is currently the Examiner of Overseas Doctorial Candidates in Business Administration for the University. Prof. Teo has no fixed term of service with the company. He will hold office until the next following annual general meeting of the company and will then be eligible for re-election pursuant to the articles of association of the company. Thereafter, he will be subject to retirement by rotation and eligible for re-election at the future annual general
meetings of the company in accordance with the Articles.