24 September 2024

Anglo-Eastern Plantations Plc

(The "Group" or "AEP")

Directorate and Management Change

Appointment of Executive Director (Corporate Affairs) and Group Chief Executive Officer

Anglo-Eastern Plantations Plc, which owns, operates and develops plantations in Indonesia and Malaysia, is pleased to announce the following changes to the Board and management team, effective 1 October 2024.

1. Marcus Chan Jau Chwen appointed as Executive Director (Corporate Affairs) 

Mr. Marcus Chan, currently a Non-Independent Non-Executive Director of the Group since 2022, has been appointed as Executive Director (Corporate Affairs), effective 1 October 2024.

In this role, Mr. Chan will oversee the Group's business transformation and lead its Environmental, Social, and Governance (ESG) initiatives. He will also continue to be responsible for corporate governance and stakeholder engagement, playing a key role in influencing the Group's strategic direction.

Mr. Chan will succeed Dato' John Lim Ewe Chuan, who will retire on 31 December 2024 after many years of dedicated service to the Group.

Mr. Chan holds a Bachelor of Commerce from the University of Melbourne and an MBA from the China Europe International Business School (CEIBS). With a background in audit, corporate advisory, and extensive experience in family and associated businesses, Mr. Chan has been pivotal in enhancing governance frameworks and contributing to business development strategies as a member of the Group's Nomination & Corporate Governance Committee.

2. Kevin Wong Tack Wee promoted to Group Chief Executive Officer 

The Board is pleased to announce the promotion of Mr. Kevin Wong Tack Wee to Group Chief Executive Officer, effective 1 October 2024. Mr. Wong joined the Group as Deputy Group Chief Operating Officer in January 2024, where he has driven operational excellence across the business.

Mr. Wong brings extensive experience in plantation management and finance, having previously held senior leadership positions at Acapalm Plantation Services as Managing Director and IOI Corporation as Group Chief Financial Officer.

His leadership across various businesses in the region focused on driving strategic growth, efficient operations, and providing financial guidance, positioning him well to steer the Group into its next stage of development

The Board congratulates both Mr. Chan and Mr. Wong on their new appointments and looks forward to their continued contributions to the success and growth of Anglo-Eastern Plantations.

Board Committees effective 1 October 2024

Following the above changes, the Board will be comprised of:

Jonathan Law Ngee Song, Non-Executive Chairman

Dato' John Lim Ewe Chuan, Executive Director

Marcus Chan Jau Chwen, Executive Director (Corporate Affairs)

Michael Henry Stainer, Independent Non-Executive Director

Farah Suhanah Tun Ahmad Sarji, Independent Non-Executive Director

The directors are part of the committees below:

Audit Committee:

Michael Henry Stainer (Chair)

Farah Suhanah Tun Ahmad Sarji (member)

Remuneration Committee:

Farah Suhanah Tun Ahmad Sarji (Chair)

Michael Henry Stainer (member)

Nomination and Corporate Governance Committee:

Farah Suhanah Tun Ahmad Sarji (Chair)

Michael Henry Stainer (member)

Marcus Chan Jau Chwen (member)

ESG Committee:

Marcus Chan Jau Chwen (Chair)

Farah Suhanah Tun Ahmad Sarji (member)

Executive Committee

Jonathan Law Ngee Song (Chair)

Dato' John Lim Ewe Chuan (member)

Marcus Chan Jau Chwen (member)

There are no disclosures to be made in accordance with UKLR 6.4.8R of the UK Listing Rules in relation to the above appointments.

For further information, please contact: 

Anglo-Eastern Plantations Plc        +44 (0)20 7216 4621

Dato' John Lim Ewe Chuan                Executive Director

Marcus Chan Jau Chwen                   Executive Director (Corporate Affairs)

Kevin Wong Tack Wee                                   Group Chief Executive Officer

Panmure Liberum                             +44 (0)20 3100 2000

Amrit Mahbubani

Freddie Wooding