| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Aug 14, 2025 7:18 |
| Status | New |
| Announcement Sub Title | Cessation of Chief Operating Officer |
| Announcement Reference | SG250814OTHRHF9V |
| Submitted By (Co./ Ind. Name) | Kevin Cho |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Chief Operating Officer. |
| Additional Details | |
| Name Of Person | Cheng Hsing Yuen |
| Age | 59 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 13/08/2025 |
| Detailed Reason (s) for cessation | Mr Cheng is stepping down as Chief Operating Officer to assume the role of Chief Executive Officer. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 03/06/2025 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Operating Officer |
| Role and responsibilities | Mr Cheng is responsible for implementing Sasseur Asset Management Pte. Ltd.'s (the "Manager") strategy and business plans as directed by the Board. He also oversees the day to day operations of the Manager. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Nil |
| Present | 1) Hong Sun Development Group Limited 2) Sasseur Bishan HK Limited 3) Sasseur Hefei HK Limited 4) Sasseur Jinan HK Limited 5) Sasseur Bishan (BVI) Limited 6) Sasseur Hefei Limited 7) Sasseur Jinan Limited 8) Sasseur Singapore Holdings Pte. Ltd. 9) Sasseur Capital Pte. Ltd. 10) Chongqing Sasseur Suge Apparel Joint Stock Co.,Ltd 11) Sasseur (Chongqing) Business Co., Ltd 12) Hefei Sasseur Commercial Management Co., Ltd 13) Sasseur (Hefei) Investment Consultancy Co., Ltd 14) Kunming Sasseur Commercial Management Co., Ltd 15) Sasseur (Kunming) Investment Consultancy Co., Ltd |