Announcement Title	Change - Announcement of Cessation
Date & Time of Broadcast	Apr 2, 2024 7:26
Status	New
Announcement Sub Title	RETIREMENT OF LEAD INDEPENDENT DIRECTOR
Announcement Reference	SG240402OTHR0DG1
Submitted By (Co./ Ind. Name)	Or Toh Wat
Designation	Group Managing Director
Description (Please provide a detailed description of the event in the box below)	Retirement of Lead Independent Director - Dr Chen Seow Phun, John
Additional Details
Name Of Person	Chen Seow Phun, John
Age	70
Is effective date of cessation known?	Yes
If yes, please provide the date	23/04/2024
Detailed Reason (s) for cessation	Dr Chen Seow Phun, John has served on the Board for more than nine years and will cease to be considered independent upon the conclusion of the Company's Annual General Meeting to be held on 23 April 2024, pursuant to Rule 210(5)(d)(iv) of the Listing Manual of the Singapore Exchange Securities Trading Limited. Dr Chen has informed the Board of his wish to retire from office at the close of the said Annual General Meeting. Upon his retirement, he will cease to be the Lead Independent Director, Chairman of the Audit Committee and a member of the Nominating Committee and Remuneration Committee.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?	No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?	No
Any other relevant information to be provided to shareholders of the listed issuer?	No
Date of Appointment to current position	25/06/2002
Does the AC have a minimum of 3 members (taking into account this cessation)?	No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)	2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months	1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)	Lead Independent Director, Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee
Role and responsibilities	Duties of the Lead Independent Director, Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries	No
Shareholding interest in the listed issuer and its subsidiaries?	Yes
Shareholding Details	Deemed interest in 38,000 shares of the Company
Past (for the last 5 years)	Hiap Seng Engineering Ltd Fu Yu Corporation Limited Hong Lai Huat Group Limited Exeterstar Holdings Pte. Ltd. MHC Asia Group Pte. Ltd. Tianjin Lanting Leasing Co. Ltd (formerly known as Pavillon Financial Leasing Co. Ltd) Pavillon Business Development (Shanghai) Co. Ltd Fengchi IOT Management Co. Ltd
Present	Cosco Shipping International (Singapore) Co., Ltd. PSC Corporation Ltd. Tat Seng Packaging Group Ltd Matex International Limited JCL Business Development Pte Ltd Pavillon Holdings Ltd. SAC Capital Private Limited Sinostar Pec Holdings Limited SAC Advisors Private Limited JLM Foundation Ltd.