Procedures for Shareholders to Propose a Person for Election as a Director

Directors shall be elected at shareholders' general meeting for a term of three (3) years. At the expiry of a director's term, the director may stand for re-election and reappointment for further term.

Pursuant to Article 60 of the Articles of Association, before the Company convenes a shareholders' annual general meeting, shareholder(s) holding 5% or more of the total voting shares of the Company shall have the right to propose new motions (such as election of directors) in writing, and the Company shall place such proposed motions on the agenda for such annual general meeting if they are matters falling within the functions and powers of shareholders in general meetings.

Pursuant to Article 58 and Article 80 of the Articles of Association, shareholders can also request to convene an extraordinary general meeting. A shareholder holding in aggregate 10% or more of the shares carrying the right to vote at the meeting sought to be held shall sign one (1) or more written requisitions in the same format and with the same content, stating the proposed matters (such as election of directors) to be discussed at the meeting, and requiring the board of directors to convene a shareholders' extraordinary general meeting. The board of directors shall proceed to convene the extraordinary general meeting for election of directors within two months.

The minimum period during which written notice given to the Company of the intention to propose a person for election as a director, and during which written notice to the Company by such person of his willingness to be elected may be given, will be at least 7 days. Such period will commence no earlier than the day after the despatch of the notice of the meeting for the purpose of considering such election and shall end no later than 7 days prior to the date of such meeting.

An ordinary resolution for election of directors must be passed by votes representing more than one-half of the voting rights represented by the shareholders (including proxies) present at the meeting.