The Board of Directors of Transcorp Holdings Limited considered Mr. Chia Siak Yan Vincent's educational background, professional qualification and extensive work experience, concurred with the recommendation of the Nominating Committee and approved the appointment of Mr. Chia as an Independent Director of the company. January 2017 to present, he has been worked as Director, Savinco Advisory Pte Ltd. The effective date is July 13, 2017. Mr. Roger Tan Chade Phang has relinquished his role as Chairman of the Remuneration Committee. Following his relinquishment, Mr. Roger Tan will remain a member of the Remuneration Committee, and the Chairman of the Nominating Committee and a member of the Audit Committee.