Khong Guan Limited announced that the chairman informed Shareholders that as part of the Board rejuvenation process and good corporate governance practice, Mr. Tay Kwang Lip Willie, an Independent Director will retire from the Board of Directors at the conclusion of the 2022 AGM held on November 30, 2022, as he would have served an aggregate period of 9 years on 15 January 2023 on the Board. Mr. Tay would also relinquish his positions as Lead Independent Director of the Company and concurrently cease to be the Chairman of the Audit Committee and a member of the Nominating and Remuneration Committees at the conclusion of the AGM.