SHS Holdings Ltd. announced that as part of the board renewal process to replace Mr. David Lee who had served on the Board for 9 years, the Nominating Committee (the "NC") has recommended the appointment of Mr. Oong Wei Yuan, Ron as an Independent Director of the Company. After reviewing the recommendation of the NC and Mr. Oong's credentials and experience (as set out below), the Board has confirmed Mr. Oong's independence and approved his appointment as an Independent Director of the Company. Consequently, Mr. Oong will also be appointed as member of the Audit, Nominating and Remuneration Committees.

Role And Responsibilities Non-Executive, Job Title Independent Director, member of the Audit, Nominating and Remuneration Committees. Working Experience Mr. Oong handles a wide range of finance and commercial work, particularly in the areas of mergers and acquisition, infrastructure, energy, project finance and banking. He has handled numerous transactions involving joint venture of project sponsors, construction and operation of infrastructures such as power plants and sales and purchase of energy (including natural gas).

Projects undertaken include hydroelectric power, solar power, wind power, waste-to-energy, gas and coal fired power plants and other infrastructure projects in Asia. He has experience representing clients in various sections, including in the infrastructure and energy sectors, and has acted for clients in cross-border transactions involving among others, Singapore, China, Indonesia, Vietnam and Bangladesh.