Terms of Reference for Audit Committee

2.4 The AC comprises:–(a)(b)(c)Mr. Ong Kian Guan (Chairman);Mr. Ong Wei Jin; andMr. Li Shengxiao2.5 A member who wishes to retire or resign from the AC shall notify the Board inwriting giving three (3) months’ notice or such shorter notice as may be agreedby the Board.2.6 A member shall notify the AC immediately, of any change in circumstances thatmay result in him not being able to meet the criteria for independence (withinthe meaning of Section 201B of the Act, the CCG and the Listing Rules).The Board may, after considering the change in circumstances, require theresignation of the member.2.7 Pursuant to Section 201B(4) of the Act, Rule 704(8) of the Listing Manualand Rule 3.23 of the Listing Rules, where, by virtue of any vacancy in themembership of the AC for any reason, the number of members of the AC isreduced to less than 3, the Board shall, within 2 months (but in any case notlater than 3 months), appoint such number of new members to the AC as maybe required to make up the minimum number of 3. Any new member appointedshall hold office for the remainder of the term of office of the member of theAC in whose place he is appointed.2.8 The members of the AC may elect from their number a Chairman. Until thatelection, the Chairman shall be the person appointed by the Board.2.9 A member shall automatically cease to be a member of the AC if he is removed/disqualified under the rules of the Act and any other applicable laws and rules,or if he resigns/retires/is not re-elected as a Board member.2.10 Pursuant to paragraph 12.9 of the CCG and the Corporate Governance Code (the“CG Code”) as contained in Appendix 14 to the Listing Rules, a former partneror director of the Company’s existing auditing firm or auditing corporationshould not act as a member of the Company’s AC: (a) within a period of 12months commencing on the date of his ceasing to be a partner of the auditingfirm or director of the auditing corporation; and (b) within a period of 12months commencing on the date of his/her ceasing to have any financial interestin the auditing firm or auditing corporation, whichever is later.– 3 –