The board (Board) of directors of SingAsia Holdings Limited announced that Mr. Chai Ming Hui (Mr. Chai) has been appointed as the independent non-executive Director of the Company, the chairman of the Remuneration Committee (Remuneration Committee), a member of each of the Audit Committee (Audit Committee) and the Nomination committee (Nomination Committee) of the Company with effect from 2 December 2022. The biographical details of Mr. Chai are as follows: Mr. Chai Ming Hui, aged 48, is presently running his own business consulting company Zegen Holdings Pte Ltd, helping various companies to expand their business operations in South East Asia. Prior to this, Mr. Chai worked as a Remisier with Oversea-Chinese Banking Corporation (OCBC) Securities Pte Ltd. for 9 years.

Mr. Chai is well-versed with listing rules and regulations. Mr. Chai has actively participated in assisting companies in merger and acquisition for more than 6 years and has personally acted as a business consultant for initial public offerings in Hong Kong and Singapore. Mr. Chai was also previously General Manager of IPTE Asia Pacific Pte Ltd, where he was in charge of the business operations for the whole of South East Asia.

Mr. Chai also co-founded an Engineering company, Bestell Technology Pte Ltd, that specialises in vision technology and Artificial Intelligence integration. The Board also announces that Mr. Jong Voon Hoo (Mr. Jong) has been re-designated as the chairman of the Audit Committee, as well as remains a member of each of Remuneration Committee and the Nomination Committee of the Company, but ceased to be chairman of the Nomination Committee of the Company.