Board Of Directors

Mr. Basil Chan was appointed to the Board on 14 November 2011. He was last re-elected to the Board on 26 October 2023 and was appointed as Chairman of the Board on 1 August 2024.

Mr. Chan holds a Bachelor of Science (Economics) Honours degree majoring in Business Administration from the University of Wales Institute of Science & Technology, U.K. and is a Fellow of the Institute of Chartered Accountants in England and Wales ("ICAEW") as well as a Fellow of the Institute of Singapore Chartered Accountants ("ISCA"). He is a Fellow of the Singapore Institute of Directors and is a Senior Accredited Board Director.

Mr. Chan was formerly a Council Member and Director of the Singapore Institute of Directors ("SID") where he had served 12 years, chairing its Professional Development Sub-committee and also as a Treasurer for a term of three years. He previously served on the Audit Committee Chapter of SID. He is a Chartered Accountant by training, having qualified in the U.K. with ICAEW. He was also a member of the Corporate Governance Committee in 2001 which published the Singapore Code of Corporate Governance. In addition, he previously sat on the Accounting Standards Committee and on the Audit and Assurance Standards Committee of ISCA. He has currently been re-appointed to the Audit and Assurance Standards Committee of ISCA. He also previously sat on the Corporate Governance and Risk Management Committee of ISCA where he was its Deputy Chairman. He is the Founder and Managing Director of MBE Corporate Advisory Pte Ltd which provides corporate and financial advisory to listed and private companies. Mr. Chan is also an Independent Director of two other SGX-listed companies, namely Broadway Industrial Group Limited and Nera Telecommunications Ltd. In the last three years, he had previously sat on the Board of Memories Group Limited and AEM Holdings Ltd.

Mr. Mark Jonathon Richards was appointed Chief Executive Officer and Executive Director of Grand Banks Yachts Limited on 1 August 2014. He was last re-elected to the Board on 27 October 2022.

A qualified shipwright and successful professional yachtsman, Mr. Richards brings to the Group more than 30 years of hands-on experience in boatbuilding. Mr. Richards is the founder of Palm Beach Motor Yacht ("Palm Beach"), which he set up in 1995 after a decade of open-water sailboat racing. Originally a bespoke boat manufacturer, Palm Beach now designs and markets a full range of award-winning yachts.

Under Mr. Richards' leadership, the Group has established a reputation for high-quality, fuel-efficient luxury yachts that incorporate the best features of Grand Banks, Eastbay and Palm Beach. He personally oversees production for all the brands and has been instrumental in modernising the Group's manufacturing processes, as well as revamping its sales model and yacht portfolio. His restructuring measures include, among others, a complete redesign and upgrade of the Group's manufacturing plant in Pasir Gudang, Johor, Malaysia.

Mr. Richards' sailing record includes two world championships and the yearly Rolex Sydney-Hobart Yacht Race, which he has won nine times as skipper of Wild Oats XI. He has represented Australia in dozens of international regattas, including two America's Cups and the 2003 Admiral's Cup in the U.K., where he led Australia to victory.

Mr. Gerard Lim Ewe Keng was appointed to the Board on 21 February 2013. He was last re-elected to the Board on 28 October 2021.

Mr. Lim holds a Bachelor of Science in Chemical Engineering from the University of Birmingham and an MBA from University of Aston, U.K..

Mr. Lim is the General Manager and Director of Kien Huat Realty Sdn Bhd ("Kien Huat"), an investment holding company which is a substantial shareholder of Genting Berhad ("Genting"). Genting and its subsidiaries, Genting Malaysia Berhad and Genting Plantations Berhad are listed on the Main Market of Bursa Malaysia Securities Berhad and Genting Singapore Limited is listed on the Main Board of the Singapore Exchange Securities Trading Limited.

He is also a Director of Golden Hope Limited, acting as the trustee of the Golden Hope Unit Trust ("Golden Hope") which is primarily involved in investment holding.

He oversees the private investments of Kien Huat and Golden Hope which include investments in a ski resort near Beijing, casino resort in the U.S. and genomics. He is also currently a Director of Empire Resorts, Inc..

Prior to joining Kien Huat and Golden Hope, he was the Chief Financial Officer of Genting Hong Kong Limited responsible for finance, legal and IT and was involved in the setting up of the cruise division in Genting Hong Kong (formerly known as Star Cruises Limited). He started his career in corporate planning in the Genting Group and has worked in various companies in the Group.s companies in the Group.

Mr. Philip William Forrest has been nominated for appointment as an independent director at the Company's upcoming Annual General Meeting on 24 October 2024.

Philip is an Australian citizen with deep familiarity and appreciation of ASEAN business and cultures, having lived and worked in the region for more than 43 years.

In 2022, Philip was awarded a Member of the Order of Australia ("AM") for significant service to Australia- Singapore business relations. He has also received the Australian Chamber of Commerce Singapore President's Medal for his contribution to the Asia-Australia commercial relationship, and a Lifetime Achievement Award from Australian Alumni Singapore.

Philip is currently the Chairman of Readymix Holdings International, Independent Director of TCIG Resources Pte Ltd, and sits on the advisory boards of Velocity Ventures, James Cook University Singapore, and the Council of Australian Alumni Singapore.

He also sits on several private company boards, and previously was Independent Director of two ASX-listed companies: TerraCom Limited (also Audit Committee Chairman) and 8VI Limited.

Philip is a Fellow at the Australian Institute of Company Directors ("AICD"), Australian Institute of Business and Economics ("AIBE"), and Singapore Institute of Directors ("SID").

He was also formerly the President of the Australian Chamber of Commerce (2018), former President of the Australian-Thai Chamber of Commerce (1990-1991), and long-serving council member at the Association of Banks in Singapore, Singapore Business Federation, and Singapore Institute of Directors (2014-2023).

Philip holds an Accounting Degree from the University of Queensland, and is a Fellow of Certified Public Accountant ("CPA") and Chartered Accountants Australia and New Zealand ("CA ANZ"). During his days in the banking profession, Philip was the Asia Head for ANZ Bank, having previously spent 15 years prior with Citibank in Australia, USA, the Philippines, Indonesia and Thailand.

Ms. Kay Pang Ker-Wei was appointed to the Board on 1 August 2024.

Ms. Pang is a lawyer with more than 25 years of expertise in legal, corporate governance and technology. She is currently the Vice-President and APAC General Counsel at Aveva Software, part of Schneider Electric SE. Her previous roles include being the Senior Director and Global Compliance Officer at VMware Inc; Director and APAC General Counsel at Cloudera Inc; and Director and APAC General Counsel (Enterprise & Software) at Hewlett-Packard Enterprise.

She also serves as an Independent Director at Nera Telecommunications Ltd; Vice-Chair at Singapore Heart Foundation; Fellow at QED Changemakers, a private think tank in Singapore; and Mentor at the NUS Lee Kuan Yew School of Public Policy and the SMU Institute of Innovation and Entrepreneurship.

Ms. Pang holds an LLB (Hons), UK, and is qualified as a Barrister-at-law in England and Wales and as an Advocate & Solicitor in Singapore. She also attained prestigious business qualifications from Stanford, MIT, Oxford University and NUS, directorship and corporate governance certification from INSEAD, and is accredited by the Singapore Institute of Directors.

Mr. Jeffrey Edward Fisher has been nominated for appointment as an independent director at the Company's upcoming Annual General Meeting on 24 October 2024.

A successful entrepreneur, Mr. Fisher brings over 20 years of expertise in retail operations to the group along with his experience in mergers and acquisition.

Mr. Fisher was the Chief Executive Officer, a Director and an Equity Partner of Casual Dining Concepts, the owner of the Bondi Pizza branded restaurant Group. He exited the business in 2019 selling his shareholding to his business partners. He was also a Non-Executive Director of Traditional Therapy Clinics Limited, listed on the Australian Securities Exchange ("ASX") from 2014 to 2016. Mr. Fisher also held the position of Chief Executive Officer and was an Equity Partner of the Oporto franchised fast food chain business until the business was acquired by private equity in 2011.

Mr. Fisher has been an avid boater since his youth, and has been familiar with both Grand Banks and Palm Beach yachts for decades. He is extremely familiar with the Australian boat market and will be able to assist the Company in that market.

Mr. Brian Marshall Storms been nominated for appointment as an independent director at the Company's upcoming Annual General Meeting on 24 October 2024.

Mr. Storms holds a Bachelor of Science in Economics from the State University of New York, Stony Brook.

Mr. Storms worked in the financial services industry, helping to launch new businesses and driving growth and strategic change in existing businesses. His most recent appointment was with APX, Inc. where he was the Chairman and Chief Executive Officer until January 2020. Thereafter, he was named the Vice-Chairman and stepped down in February 2022 when the company was sold. His past appointments include being, the Chief Executive Officer of Liquid Holdings Inc., the Chairman and Chief Executive Officer of Marsh Inc. and a member of the executive committee of Marsh's public company parent, Marsh & McLennan (MMC). He had been President and Chief Executive Officer of Mercer Human Resource Consulting prior to his appointment at Marsh Inc. Prior to Mercer, Mr. Storms was the President and Chief Executive Officer of UBS Global Asset Management - Americas and a member of both the UBS Global Asset Management Executive Committee and the UBS Group Managing Board. From 1996 to 1999, he was President of the Prudential Investments mutual fund and annuity complex. From 1991 to 1996, he held various senior positions with Fidelity Investments.

Mr. Storms joined the Group and brought along with him the deep experience he gained from the financial services industry which will strengthen the Group strategy.