Vashion Group Limited announced that the Board of Directors will establish Investment Committee, comprising two executive directors and two independent directors. The terms of reference of the Investment Committee will include the evaluation of all proposed investments and acquisitions by the Group, and the evaluation of any significant capital commitment or divestment by the Group. All resolutions by the Investment Committee will require the affirmative vote of the two Independent Directors.

The first members of the Investment Committee will comprise the following Directors: Chan Kam Loon, Chairman of the Investment Committee and Independent Director; Chan Siew Wei, Independent Director; Khoo Yick Wai, Executive Director; Tansri Saridju Benui, Executive Director. To enhance the internal decision making processes of the Group, Khoo Yick Wai who is currently the Executive Chairman and Chief Executive Officer of the Company, will be redesignated as Chief Executive Officer and Tansri Saridju Benui will be designated as Executive Chairman of the Company. In light of the separation of roles of Chairman and Chief Executive Officer, the Company will no longer have a designated Lead Independent Director, a position previously held by Chan Kam Loon.

Chan Kam Loon will be appointed as the Chairman of the Audit Committee and Nominating Committee, and Chan Siew Wei will remain as the Chairman of the Remuneration Committee. The Company announced the appointment of Wong Chiew Yuen as Finance Manager of the Group, in change of Singapore operations. Wong Chiew Yuen is a qualified Singapore Certified Public Accountant.

With this appointment, the finance team of the Group will be led by: Yuen Chun Fai as Chief Financial Officer; Wong Chiew Yuen as Finance Manager for Singapore operations; (Ye Yue Chang) as Finance Manager for PRC and Hong Kong operations.