Change - Announcement of Cessation::Cessation of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
HONG LAI HUAT GROUP LIMITED
Securities
HONG LAI HUAT GROUP LIMITED - SG1EE1000009 - CTO
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-Feb-2026 17:46:16
Status
New
Announcement Sub Title
Cessation of Chief Financial Officer
Announcement Reference
SG260203OTHRC61Q
Submitted By (Co./ Ind. Name)
Dato' Dr Ong Bee Huat
Designation
Executive Deputy Chairman and Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Financial Officer

Additional Details

Name of person
Lai Seng Fatt
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date.
03/02/2026
Detailed reason(s) for cessation
Lai Seng Fatt ("Darren Lai") was serving his three-month probationary period with the Company at the time of his resignation, following an office dispute. In connection with the dispute, certain allegations were raised against a member of management, in particular the Executive Director, Ong Jia Jing.

The Nominating Committee and the Board of Directors have assessed the matter and determined that it is non-material in terms of financial impact on the Group. Accordingly, Darren Lai's resignation is not expected to have any material adverse effect on the Group.

Notwithstanding the foregoing, in the interest of maintaining good corporate governance and safeguarding the reputation of management, the Board has treated the matter seriously and has appointed an independent third-party legal advisor to conduct an investigation into the allegations. The Company will provide further updates to shareholders, where appropriate, in due course.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of appointment to current position
05/01/2026
Job title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Responsible for Hong Lai Huat Group's financial functions, tax and financial reporting.
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of independent directors currently resident in Singapore (taking into account this cessation)
3
Do independent directors make up at least one-third of the board (taking into account this cessation)?
Yes
Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months
6
Shareholding interest in the listed issuer and its subsidiaries
No
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Other Directorships
Past (for the last 5 years)
Nil
Present
Nil