Kim Eng's executive director Ong Seng Gee resigns

Ong's can-do attitude and managerial skills helped Kim Eng flourish during the last decade.

The Board of Directors of Kim Eng Holdings Limited (the “Company’) wishes to announce that Mr.
Ong Seng Gee has tendered his notice of resignation as an Executive Director of the Company
and has agreed with the Company that his last day of service will be 31 December 2010, according to a Kim Eng report.

Mr. Ong has been with the Company since the merger of the Company and Ong & Company Private Limited ("Ongco") in 2001. Prior to that, he had worked at Ongco where he had been Managing Director. His current responsibilities in the Group include being Executive Director of Kim Eng Securities Pte. Ltd. (“KES”), the Company’s flagship securities operating subsidiary in Singapore, as well as directorships in other Group companies such as Kim Eng Securities (Hong Kong) Limited, Kim Eng Vietnam Securities Joint Stock Company and Heritage Fiduciary Services Pte. Ltd.

The Company’s Chairman and CEO, Mr. Ronald Ooi, said, “The Kim Eng Group owes a debt of gratitude to Seng Gee for his contribution over the last decade. It is a testament to his commitment and can-do attitude that our retail broking franchise has flourished in an increasingly challenging environment. We also have Seng Gee to thank in helping the Group build an extremely capable management team, many of whom were identified and recruited by Seng Gee and will now step up to cover the various aspects of Seng Gee’s portfolio. I have every confidence in the ability of our management team to drive this Company forward. Nevertheless, I have asked and Seng Gee has agreed that he continue working until the end of the year so that we have ample time to ensure a smooth transition. We will all miss Seng Gee for his passion and drive and wish him the very best for the future.”

Mr. Ong said, “It was not an easy decision to leave what has been my home for almost my entire working life. However, I felt that I could no longer put off my desire to widen my life experience. I am grateful to Kim Eng for giving me the opportunity to grow with the Group and will regard its inevitable continued success with pride, knowing that I may have played a small part in such success. I have no doubt that the Company’s future holds much promise and that it has the right management team to execute on this potential. I wish the Company the very best as it continues on its growth trajectory.”

The Board would like to express its appreciation to Mr. Ong for his services and invaluable contribution as a member of the Board during his tenure of office on the Company’s Board.

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