Asia Enterprises : Resignation Of Executive Director And Group Financial Controller

ASIA ENTERPRISES HOLDING LIMITED

(Company Registration No. 200501021H)

(Incorporated in the Republic of Singapore)

Resignation of Executive Director & Group Financial Controller

The Board of Directors of Asia Enterprises Holding Limited (the "Company" and together with its subsidiaries, the "Group") wishes to inform that Mr Lim Lian Peng has tendered his resignation as Executive Director and Group Financial Controller. His last day of service with the Group will be on 26 June 2020.

The Company will release an announcement on the appointment of a new Group Financial Controller in due course. In the interim, Ms Lee Yih Chyi, Managing Director of Asia Enterprises, will oversee the Company's finance team and its functions.

Mr Lim joined the Group in 2013 as the Group Financial Controller and appointed as Executive Director in April 2020. The Board of Directors would like to express their sincere appreciation to Mr Lim for his valuable contributions to the Group, and wish him well in his future endeavors.

By Order of the Board

Lee Yih Chyi

Managing Director

3 June 2020

About Asia Enterprises

Since 1973, Asia Enterprises has grown into a major distributor of a wide range of steel products to industrial end-users in Singapore and the Asia-Pacific region. It has also built a strong reputation in the marine and offshore sector.

Asia Enterprises presently owns three facilities in Singapore - a multi-storey warehouse, a single-storey warehouse and a steel processing plant-cum-warehouse - with a total combined land area of 45,934 square metres. Asia Enterprises supplies over 1,200 steel products to more than 700 active customers involved primarily in marine and offshore, oil and gas, construction, as well as precision metal stamping, manufacturing and engineering/fabrication industries.

The Group was listed on the Main Board of the SGX-ST on 1 September 2005.

For further information on Asia Enterprises, please visit the Group's website at: www.asiaenterprises.com.sg

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