Cessation Of Independent Director, Change In The Composition Of The Board Of Directors, And Reconstitution Of Committees

The Board of Directors (the "Board") of Straco Corporation Limited (the "Company") wishes to announce the cessation of Mr. George Huang Chang Yi as Independent Director of the Company with effect from 27 April 2011.

The Board would like to place on record its appreciation to Mr. George Huang Chang Yi for his contribution to the Group during his tenure with the Company.

The details and declaration of Mr. George Huang Chang Yi required under Rule 704(7) of the Listing Manual of the Singapore Exchange Securities Trading Limited are contained in a separate announcement released today.

Consequent to the above changes, the new composition of the Board of Directors is as follows:-

Mr. Wu Hsioh Kwang (Executive Chairman)
Mr. Chen Hong Sheng (Non-Executive Director)
Mr. Guo Qiang (Non-Executive Director)
Mr. Fu Xuezhang (Non-Executive Director)
Madam Chua Soh Har (Non-Executive Director)
Mr. Tay Siew Choon (Independent Director)
Dr. Choong Chow Siong (Independent Director)

Reconstitution of Committees

That consequent upon the above changes to the Board, the Audit Committee, Nominating Committee and Remuneration Committee and will be reconstituted as follows:-

Audit Committee

Dr Choong Chow Siong - Independent Director (Chairman)
Mr. Guo Qiang - Non Executive Director

Nominating Committee

Mr. Wu Hsioh Kwang - Executive Chairman
Mr. Tay Siew Choon - Independent Director

Remuneration Committee

Mr. Tay Siew Choon - Independent Director (Chairman)
Mr. Chen Hong Sheng - Non-Executive Director


The Board of Directors is in the process of identifying a replacement Independent Director to fill the vacancy in the Audit, Nominating and Remuneration Committee to meet the minimum number of three members within three months as stipulated in the above said Committees' Terms of Reference and Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited.



By Order of the Board


Lotus Isabella Lim Mei Hua
Company Secretary

Date: 27 April 2011