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Announcement Of Cessation As Executive Chairman

BackOct 09, 2009
Resignation Details
Name Of Person Sim Gok Hian
Age 65
Is Effective Date Of Cessation Known? Yes
Effective Date Of Cessation 09/10/2009
Detailed Reason(s) for Cessation Mr Sim Gok Hian will step down as the Executive Chairman and Director of the Company and has agreed to stay on in the employment of the Company in the capacity as a "Senior Adviser" and continue to contribute his considerable experience and expertise to the Company through an advisory role pursuant to a new service agreement.
Is there any difference of opinion on material matters between the person and the Board of directors? No
If yes, please elaborate NA
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
If yes, please elaborate NA
Any other relevant information to be provided to shareholders of the listed issuer? No
If yes, please elaborate NA
Date of Appointment to current position 29/05/2008
Job Title Executive Chairman and Director
Role and Responsibilities Mr Sim Gok Hian is responsible for overseeing the business operations of the Group. Having founded the Group, he has been instrumental in setting up and expanding the Company's business network.
Does the AC have a minimum of 3 members (taking into account this resignation)? Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation) 4 (including Mr Ng Chee Keong who is appointed today).
Number of Cessations of Appointments specified in Listing Rule 704(7) over the past 12 months 1
Shareholding in the listed issuer and its subsidiaries Direct interest - 48,500,000
Deemed interest - 49,500,000
Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries Mdm Chua Kim Choo, a substantial shareholder of the Company, is the spouse of Mr Sim Gok Hian.

Mr Sim Soon Ngee Glenndle, the Executive Chairman and Chief Executive Officer of the Company and a substantial shareholder of the Company, is the son of Mr Sim Gok Hian.
Other Directorship
Past Directorship (for the last five years) Mencast Holdings Ltd.
Present Directorship Mencast Marine Pte Ltd
Other Notes
Footnotes This announcement and its contents have been reviewed by the Company's Sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Mah Kah Loon, Head, Corporate Finance, CIMB Bank Berhad, Singapore Branch, 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, telephone (65) 6337-5115.