The Board of Directors of SHS Holdings Ltd. announced the re-designation of Mr. Teng Choon Kiat from Non-Executive Chairman to Executive Chairman effective immediately. The Board, having considered the recommendation from the Nominating Committee, is of the view that the re-designation is desirable with Mr. Teng Choon Kiat's recent involvement in the Group's business matters and assisting Management in steering and improving the Group's business. The composition of the Audit, Nominating and Remuneration Committees remains unchanged.