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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Sep 30, 2025 17:30 |
| Status | New |
| Announcement Sub Title | Re-designation of Independent Non-Executive Chairman to Non-Independent Non-Executive Chairman |
| Announcement Reference | SG250930OTHRM4FQ |
| Submitted By (Co./ Ind. Name) | Victor Lim |
| Designation | CEO and Group Managing Director |
| Description (Please provide a detailed description of the event in the box below) | Re-designation of Independent Non-Executive Chairman to Non-Independent Non-Executive Chairman of the Company at the conclusion of the Annual General Meeting ("AGM"). This announcement has been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Mr. Leong Weng Tuck at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: sponsor@rhtgoc.com. |
| Additional Details | |
| Date Of Appointment | 01/12/2015 |
| Name Of Person | Cheah Wee Teong |
| Age | 56 |
| Country Of Principal Residence | Singapore |
| Date of last re-appointment (if applicable) | 20/10/2023 |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | The Nominating Committee ("NC"), having considered the attendance and participation of Mr. Cheah Wee Teong ("Mr. Cheah") at Board and Board Committees' meetings, and taking into account his track record, experience and capabilities to, amongst others, provide insight and guidance to the Group's business and strategies, had recommended to the Board the re-designation of Mr. Cheah as Non-Independent and Non-Executive Chairman of the Company. The Board also acknowledges and recognises the benefits of the experience and stability brought by Mr. Cheah as a long-serving Independent Director and wishes to retain him for his strength of character, objectivity and wealth of extensive business experience, and his knowledge on the Group's business. The Board, upon recommendation of the NC, has approved the re-designation of Mr. Cheah from Independent Non-Executive Chairman to Non-Independent Non-Executive Chairman of the Company with effect from the conclusion of the AGM. Accordingly, following his re-election at the forthcoming AGM, Mr. Cheah will be re-designated as the Non-Independent and Non-Executive Chairman of the Company and step down as Chairman of the Audit Committee ("AC") and be appointed as a member of the AC, remaining as a member of the NC and the Remuneration Committee ("RC") at the conclusion of the AGM. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Independent and Non-Executive Chairman and members of the AC, the NC and the RC. |
| Professional qualifications | Bachelor of Business Administration and Master of Professional Accounting degrees from the University of Texas at Austin, USA. |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | Nil |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | 2019 to 2022: Director, IT of Bridgestone Asia Pacific Pte Ltd 2017 to 2019: Director, Internal Audit of Surbana Jurong Pte Ltd 2015 to 2017: Director of RSM Risk Advisory Pte. Ltd. 2009 to 2015: Director of Risk Advisory of RSM Nelson Wheeler (Hong Kong) |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | Yes |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | FWP Consultancy Sdn Bhd |
| Present | Leverage Income Sdn Bhd Asian Micro Capital Sdn Bhd Talx Labs Sdn Bhd |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | No |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of an issuer listed on the Exchange? | Yes |
| If Yes, Please provide details of prior experience | Mr. Cheah is currently the Independent Non-Executive Chairman of the Company. |
| Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable) | Not applicable |
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