MoneyMax Financial Services Ltd. announced Dr. Ong Seh Hong ("Dr. Ong") has not sought re-election at the annual general meeting of the company held on 28 April 2016 and has retired as a Director of the company. Consequently, Dr. Ong has ceased to be an Independent Director of the Company,
Chairman of the Nominating Committee, and a member of the Audit Committee and Remuneration Committee. Mr. Foo Say Tun has been appointed as an Independent Director of the Company, Chairman of the Nominating Committee, and a member of the Audit Committee and Remuneration Committee.