The Board wishes to inform that Dr John Chen satisfies Guidelines 2.3 and 2.4 of the Code of Corporate Governance 2012 (Code 2012), including the following:-

(a) He is not a 10% shareholder of the Company and has not been for the past 3 financial years;
(b) He has no relationship with any 10% shareholder of the Company;
(c) He has not been employed and does not have an immediate family member who is employed by the Company or its subsidiaries in the past 3 financial years;
(d) He is not involved in the day-to-day operations of the Company or its subsidiaries;
(e) He has no interested person transaction with the Company and its subsidiaries;
(f) He has completed his personal declaration of independence; and
(g) The Nominating Committee (NC) acknowledged that he has consistently demonstrated good communication skills, possesses a wealth of experience, and has devoted sufficient time to the affairs of the Company. He also contributed extensively throughout his 9 years of services with the Company. The Board believes that Dr John Chen is able to exercise objective judgment on the Company's affairs independently.

The NC taking into consideration the factors above, has reviewed and is satisfied with the independence of Dr John Chen. Accordingly, the Board accepted the NC's recommendation for the re-designation of Dr John Chen from Deputy Chairman/Non-Executive Director to Deputy Chairman, Non-Executive and Independent Director of the Company.
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