The Board of Directors of King Wan Corporation Limited announced the following with immediate effect: (a) Mr. Goh Chee Wee ("Mr Goh") has retired as a director of the Company in accordance with Regulation 115 of the Company's Constitution at the Annual General Meeting held on 30 July 2021; and concurrently, he relinquished his position as the Lead Independent Director, Chairman of the Audit Committee and Remuneration Committee, and member of the Nominating Committee. Mr. Tang Siew Foo David ("Mr David Tang") will be appointed as the Lead Independent Director and Chairman of the Audit Committee; Dr Teo Ho Pin ("Dr Teo") will be appointed as the Chairman of the Remuneration Committee and member of the Audit Committee; and Ms Siraarpa Siriviriyakul ("Ms Siraarpa") will be appointed as a member of the Nominating Committee.