The Hour Glass Limited announced that Mr. Philip Eng Heng Nee was due to retire by rotation pursuant to the company's Constitution at the Annual General Meeting on 30 July 2018 and did not seek re-election. He retired as Independent Non-Executive Director, Chairman of Audit Committee and member of Remuneration Committee at the conclusion of the AGM, and concurrently ceased to be Chairman of the Audit Committee and a member of the Remuneration Committee. The retirement is part of Board rejuvenation.