The Board of Directors and Management of Pan Asian Holdings Limited Group (the “Company”) are committed to maintaining a high standard of corporate governance to facilitate effective management and safeguard the interests of the Company’s shareholders.

The Corporate Governance Report within the annual report lists out the corporate governance processes and structures of the Group, with specific reference to the principles and guidelines of the Singapore Code of Corporate Governance 2012 (the “Code”), and where applicable, the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual Section B: Rules of Catalist (the “Catalist Rules”).

The Company confirms that it has adhered to these principles and guidelines set out in the Code, where applicable, and has identified and explained areas of non-compliance in the Corporate Governance Section.