On 10 September 2013, Singapura Finance Ltd. announced that due to an inadvertent error, Mr. Ho Ah Seng, William vacated his office as Director at the conclusion of last year's Annual General Meeting held on 25 October 2012 under section 153(2) of the Companies Act, Chapter 50. Shareholders' approval for Mr. Ho's re-appointment as a Director was obtained at this year's Annual General Meeting held on 29 October 2013. Based on the Nominating Committee's review of Mr. Ho Ah Seng, William's credentials and its recommendation that he be appointed as an Independent Non-Executive Director of the Company, the Board has considered the recommendation and is satisfied that Mr. Ho's appointment will be beneficial to the Board and the Company.

Mr. Ho will, following his appointment as a Director, be appointed as a member of the Risk Management Committee.