The Board of Directors of Ascent Bridge Limited announced the redesignation of the Audit Committee of the Company to the Audit & Risk Committee of the Company effective from 1 April 2022. The responsibility of overseeing the Group's risk management framework and policies is delegated by the Board to the Audit Committee. In its risk oversight fuction, the Audit Committee reviews the adequacy and effectiveness of the Group's internal controls and risk management systems. The redesignation appropriately reflects the Audit & Risk Committee's dual functions as an audit committee and a risk committee.

The following composition of the Audit & Risk Committee is the same as that of the former Audit Committee: Siow Chee Keong (Chairman)- Independent Director. Chua Wei Ming- Independent Director. Dr Tan Khee Giap - Independent Director.