The board (the ``Board'') of directors (the ``Directors'') of Design Capital Limited (the ``Company'', and together with its subsidiaries, the ``Group'') announced that Mr. Hwang Kin Soon Ignatius (``Mr. Hwang'') has been appointed as an independent non-executive Director (``INED''), a member of each of the audit committee of the Board (the ``Audit Committee''), the remuneration committee of the Board (the ``Remuneration Committee'') and the nomination committee of the Board (the ``Nomination Committee''), with effect from 2 April 2024. Mr. Hwang, aged 60, has more than 30 years of extensive experience in the legal field. He graduated from the National University of Singapore with a Bachelor of Laws degree.

He is a qualified lawyer in both Singapore and United Kingdom. Mr. Hwang is currently an independent director of Moya Holdings Asia Ltd. Mr. Hwang was also previously an INED of China Environment Ltd., a company listed on the Singapore Stock Exchange, from February to September 2016. Mr. Hwang was appointed to help restructure and stabilise China Environment Ltd., which was having financial and accounting discrepancies.

Together with the new board of directors of China Environment Ltd., a special investigation was conducted and alleged fraud was discovered. China Environment Ltd. also took legal action against its former executive chairman which was successfully settled. The former executive chairman, former executive director and CEO, and former CFO, were subsequently reprimanded for breaches of the listing rules by the Singapore Stock Exchange.

Mr. Hwang has also previously been appointed as an INED of Nutryfarm International Limited, a company incorporated in Bermuda, listed on the Singapore Stock Exchange and principally engaged in the manufacture of nutrition and health food products. He was an INED of Nutryfarm International Limited from May 2023 till his recent resignation in March 2024. He joined Nutryfarm International Limited mid-way when it was already under judicial management to assist with its restructuring.

At the time of his resignation, the company was still under judicial management and efforts are continuing to resurrect the company. The Board also announced that with effect from 2 April 2024, Mr. Hwang has been appointed as a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee.