The Board of Directors of Asia Enterprises Holding Limited announced that Mr. Teo Keng Thwan has been re-designated from Independent Director to Non-Executive Non-Independent Director with effect from 1 January 2019 pursuant to Listing Rule 210(5)(d) of the Listing Manual of the SGX-ST as his total shareholdings in the Company is 5.12%. Mr. Teo will remain as a member of Audit and Nominating Committees. Mr. Teo is considered non- independent pursuant to Rule 704(8) of the Listing Manual of the SGX-ST.