General Announcement::The Composition of the Board

Issuer & Securities

Issuer/ Manager
CHINA ENVIRONMENT LTD.
Securities
CHINA ENVIRONMENT LTD. - SG1Y42946521 - 5OU
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
10-Aug-2018 08:02:49
Status
New
Announcement Sub Title
The Composition of the Board
Announcement Reference
SG180810OTHRXD4A
Submitted By (Co./ Ind. Name)
Remy Tan
Designation
Corporate Affairs Manager
Description (Please provide a detailed description of the event in the box below)
The Board of Directors (the "Board" ) of China Environment Ltd. (the "Company" together with its subsidiaries, the "Group" ) refers to the cessation announcement released on 26 July 2018 and wishes to announce the following changes to the composition of the Board Committees:

BOARD OF DIRECTORS

Executive Directors

Mr Norman Winata (Group Executive Chairman)

Non-Executive and Independent Directors

Mr Er Kwong Wah (Lead Independent Director)
Mr James Kho Chung Wah

Nominating Committee

Mr James Kho Chung Wah (Chairman)
Mr Er Kwong Wah
Mr Norman Winata

Remuneration Committee

Mr Er Kwong Wah (Chairman)
Mr James Kho Chung Wah

Audit Committee

Mr Er Kwong Wah (Chairman)
Mr James Kho Chung Wah

The Board noted that the Audit Committee ( "AC" ) and Remuneration Committee ( "RC" ) will not have a minimum of 3 directors, which is not in accordance with the recommendations of the Code of Corporate Governance 2018 (the "Code" ) whose guidelines provide that all of the members of the AC and RC should be non-executive. This is due to the recent resignation of the non-executive non-independent director announced on 26 July 2018 hence reducing the number of directors to three (3) comprising two (2) Independent Directors and one (1) Executive Director. The Company is in the process of looking for suitable candidates as non-executive director.