The board of directors of Hosen Group Ltd. announced the appointment of Mr. Lim Hai Cheok, an Executive Director and Chief Executive Officer of the company, as a member of the Audit Committee and Remuneration Committee respectively in replacing with Mr. Ngiam Zee Moey who has resigned as a Non-Executive Independent Director on 15 January 2018, with effect from 29 March 2018. Consequent to the above, Mr. Lim will continue to be a member of the Nominating Committee and be a member of AC and RC respectively. The AC and RC should comprise at least three directors, the majority of whom, including the Chairman, are Independent Non-Executive Directors. However, not all the members of the AC and RC are Non-Executive Directors. Mr. Lim, the Executive Director and CEO is a member of the AC and RC. The Board is of the view that Mr. Lim will not be considered independent for the purposes of Catalist Rule 704(7) as he is a controlling shareholder and the CEO, who carries out the day-to-day overall management and execute the decisions made by the Board.