The Board of Directors of Asia Enterprises Holding Limited announced that Mr. Teo Kheng Thwan ("Mr Teo") has been re-designated from Non-Executive Non-Independent Director to Independent Director with effect from 7 July 2019. Subsequent to the re-designation of Mr. Teo as an Independent Director of the Company, Mr. Teo will continue to act as a member of the Audit and Nominating Committees. Mr. Teo is considered independent pursuant to Rule 704(8) of the Listing Manual of the SGX-ST.