The Board of Directors of SJCB wishes to inform that the Company had received a Notice of Nomination dated 20 May 2015 from Dato' Blace Teo @ Teo Swee Cheng, a substantial shareholder of the Company, for the nomination of Messrs. Deloitte as Auditors of the Company for the financial year ending 31 December 2015 in place of the retiring Auditors, Messrs Deloitte & Touche and to hold office until the conclusion of the next Annual General Meeting at a remuneration to be determined by the Directors ("Proposed Change of Auditors").

The Proposed Change of Auditors is due to streamlining of operations and condition of portfolios for both Messrs. Deloitte and Messrs. Deloitte & Touche under a single entity.

The Proposed Change of Auditors is subject to the shareholders' approval at the forthcoming Twenty-Second Annual General Meeting of the Company to be convened.

This announcement is dated 20 May 2015.