The board of directors of Furniweb Holdings Limited announced the appointment of Er. Kang Boon Lian ("Er. Kang") as an executive Director with effect from 1 July 2023.

Er. Kang, aged 53, graduated from the National University of Singapore with a Degree of Bachelor of Engineering (Mechanical) in July 1994. Er.

Kang has over 25 years of international management experience in the Heating, Ventilation and Air-conditioning ("HVAC") industry ranging from business development to engineering applications and training. In October 2013, Er. Kang joined Measurement & Verification Pte Ltd, a subsidiary of the Group's energy efficiency division and currently titled as Managing Director to help design and implement high efficiency HVAC systems. In June 2009, Er.

Kang was appointed as a Business Development and Sales Director, Asia Energy Services in Trane and in January 2013, he was appointed as a Regional Manager, Business Development Retrofit Solutions, Service Asia in Johnson Controls (S) Pte Ltd. Er. Kang was appointed in July 2012 as an Ambassador for the Singapore's Building and Construction Authority (BCA) and as a committee member of BCA Energy Auditor Registration Committee in between July 2016 and June 2019. Er.

Kang has also been a member of the Working Group appointed by the Technical Committee on Building Maintenance and Management for the Singapore Standard on Chiller Plant Measurement and Verification in November 2013 and the Singapore Standard on Air-conditioning and Mechanical Ventilation in Buildings in April 2016. Er. Kang has entered into a letter of appointment with the Company with a term of three years commencing from 1 July 2023 and renewable subject to review by the Board upon expiry of the then current term of his appointment, unless terminated in accordance with the terms of his letter of appointment.

Er. Kang is also subject to retirement by rotation and re-election in accordance with the provisions of the articles of association of the Company. Pursuant to the letter of appointment, Er.

Kang will receive a salary of approximately HK$1.46 million per annum and such other emoluments and/or discretionary management bonus as may be determined by, and at the absolute discretion of, the Board from time to time. Such other emolument of Er. Kang and his discretionary management bonus would be determined with reference to various factors such as duties and level of responsibilities of Er.

Kang, the performance of Er. Kang and the Group's performance for the financial year concerned and the prevailing market conditions and based on the recommendation from the remuneration committee of the Board. No director's fee will be paid to Er.

Kang in respect of his appointment as an executive Director of the Company other than the salary and such other emoluments mentioned above.