HPC : COMPLETION OF APPOINTMENT TERM OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND PROPOSED APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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HPC HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1742)

COMPLETION OF APPOINTMENT TERM OF INDEPENDENT

NON-EXECUTIVE DIRECTOR

AND

PROPOSED APPOINTMENT OF INDEPENDENT

NON-EXECUTIVE DIRECTOR

COMPLETION OF APPOINTMENT TERM OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of HPC Holdings Limited (the "Company") announces that, Ms. Diana Ng King Wai ("Ms. Ng"), the independent non-executive director of the Company (the "Director") has decided to cease her directorship with the Company, as she would like to devote her time and energy with family after the completion of the current appointment term, which will be lapsed on 10 May 2021. Ms. Ng has been the member of audit committee, remuneration committee and nomination committee during her tenure since 11 May 2018.

Ms. Ng has confirmed that she has no disagreement with the Board, and there is no matter that should be brought to the attention of the shareholders of the Company (the "Shareholders").

The Board would like to express its sincere gratitude to Ms. Ng for her important contribution to the Company during her tenure of office and wish her all the best in her future pursue.

PROPOSED APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

Pursuant to Rule 3.10 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "SEHK"), every issuer must include at least 3 independent non-executive directors. The Board proposed to appoint Mr. Gng Hoon Liang ("Mr. Gng") as an independent non-executive Director in the coming Annual General Meeting in late April 2021 (the "AGM") for the Shareholders' approval. The notice and circular of the AGM will be published separately in due course.

Subject to the Shareholders' approval for Mr. Gng's appointment as an independent non-executive Director, the appointment for Mr. Gng as the member of audit committee, remuneration committee and nomination committee would become effective on the same date.

Mr. Gng has entered into a letter of appointment (the "LOA") with the Company taking effect from the date of Shareholders' approval for a term of three years and subject to re-election in the AGMs. Each party of the LOA could terminate the appointment by giving three months' notice. The remuneration of Mr. Gng will be 30,000 Singapore dollars per annual subject to the annual Board revision.

The biographical details of Mr. Gng are set out as follows:

Mr. Gng Hoon Liang (჎ථڥ) aged 63. Mr. Gng has over 30 years' experience in the building industry. Mr. Gng has been a director of Coal and Mineral Pte Ltd, a whole sale trading company incorporated in Singapore, since 2008. Since 2002, Mr. Gng has been providing project management services to developers, contractors, lawyers in South East Asia, Africa and the Middle-East regions. From 1996 to 2002, he was the project manager for the high technology horse racing turf club in Kranji, Singapore with SsangYong Engineering & Construction Co, Ltd. In 1993, the Malaysia's Bank Negara (Central Bank) engaged Mr. Gng as the project director to fully oversee the successful completion of the Labuan Financial Park in 1996 (a tax haven entity), in Labuan Island, East Malaysia. He was the contracts manager for the restoration and redevelopment of the internationally proclaimed Raffles Hotel in Singapore from 1990 to 1992 under SsangYong Engineering & Construction Co, Ltd. He was the contracts manager for the China World Trade Centre, Beijing, China from 1987 to 1990 with Indeco Engineers, a Singapore Government-linked company. Mr. Gng graduated from Edinburgh, Scotland in 1987 with a Bachelor of Science in Quantity Surveying and Building Economics (Hons) and in 1995 he obtained his Master of Science in International Construction Management from the Nanyang Technological University (Singapore). He was a Professional associate of The Royal Institution of Chartered Surveyors (U.K.) from 1991 to 2010, The Association of Cost Engineers (U.K) from 1994 to 2010, and member of Singapore Institute of Arbitrators from 1996 to 2010.

Save as disclosed above, Mr. Gng did not hold any other positions in the Company or its subsidiaries, nor did he hold any directorships in any other public companies within the three years prior to the date of his appointment, of which the securities are listed on any securities market in Hong Kong or overseas, and nor did he have other major appointments.

To the best knowledge of the Company, Mr. Gng does not have any relationship with any other Directors, senior management, substantial shareholders or controlling shareholders of the Company, and does not have any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and has not been subject to any disciplinary action by any relevant authorities of Singapore or the SEHK.

Save as disclosed above, there is no other information required to be disclosed pursuant to the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rule, nor are there any other matters relating to Mr. Gng's appointment that need to be brought to the attention of the Shareholders.

By order of the Board HPC Holdings Limited

Wang Yingde

Chairman & Chief Executive Officer

Singapore, 22 March 2021

As at the date of this announcement, the Board comprises Mr. Wang Yingde and Mr. Shi Jianhua as executive Directors; and Mr. Zhu Dong, Mr. Leung Wai Yip and Ms. Ng King Wai Diana as independent non-executive Directors.