Sunrise Shares Holdings Ltd. Provides Update on Directors’ Mandatory Training Compliance

Key Highlights for Investors

• Delay in Completion of Requisite Training by Newly Appointed Independent Director: Datuk Ng Bee Ken, appointed as Independent Non-Executive Director, has not completed all mandatory training modules for first-time directors within the prescribed timeline due to conflicting work commitments.
• Partial Completion of Training: Datuk Ng has completed the LED 1 module offered by the Singapore Institute of Directors (SID) and has committed to completing the remaining modules as soon as SID releases their 2026 calendar schedule.
• Full Compliance by Executive Director: Mr. Nicholas Eng Teng Cheng, appointed as Executive Director, has completed all required training modules, including Environmental, Social and Governance (ESG) Essentials (LED 9), within the stipulated timeframe.
• Regulatory Compliance Under Review: The company reiterates its commitment to compliance with SGX-ST Catalist Rules on director training but notes the temporary non-fulfilment in Datuk Ng’s case.

Detailed Report

Sunrise Shares Holdings Ltd. has provided an important update regarding the training compliance status of its newly appointed directors, an issue which holds regulatory significance and may impact shareholders’ perception and potentially the company’s share value.

Background

Following the appointments of Datuk Ng Bee Ken as Independent Non-Executive Director and Mr. Nicholas Eng Teng Cheng as Executive Director in December 2024, the company was required to ensure that both directors, having no prior experience as directors of a company listed on the Singapore Exchange Securities Trading Limited (SGX-ST), undergo specific training as mandated by the Catalist Rules. This includes understanding the roles and responsibilities of directors of a listed issuer.

Current Status of Director Training

• Datuk Ng Bee Ken: The company discloses that Datuk Ng has not yet completed all the requisite modules within the prescribed timeline (by 9 December 2025). The delay is attributed to scheduling conflicts with his professional commitments. However, Datuk Ng has completed the initial LED 1 module conducted by SID and has committed to registering for and completing the remaining modules as soon as they become available in 2026.
• Mr. Nicholas Eng Teng Cheng: In contrast, Mr. Eng has completed all required training, including the essential ESG module (LED 9), within one year of his appointment, ensuring full compliance with SGX-ST regulations.

Implications for Shareholders and Potential Price Sensitivity

• Regulatory Compliance Risk: The delay in completing the training by Datuk Ng represents a temporary non-compliance with SGX-ST’s Catalist Rules, which could be viewed as a corporate governance concern. This may impact investor sentiment, particularly among those for whom board compliance and governance are key investment criteria.
• Commitment to Rectification: The company has publicly affirmed Datuk Ng’s intention to complete the training at the earliest possible opportunity, thereby limiting the long-term impact. There is currently no indication of regulatory action or penalties, but investors should monitor future updates for any developments.
• No Impact on Other Directors: All other relevant directors, specifically Mr. Eng, are confirmed to be in full compliance with the training requirements, reducing the risk of widespread governance issues.

Company’s Position and Next Steps

The Board has communicated its understanding of the importance of regulatory compliance and has committed to ensuring all directors meet the necessary requirements. The company’s sponsor, Novus Corporate Finance Pte. Ltd., has reviewed the announcement, although the SGX-ST has not independently examined or approved the contents.

Investors should remain attentive to further announcements, particularly those detailing the completion of Datuk Ng’s training or any regulatory feedback, as these could influence the company’s governance profile and potentially its share value.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The information is based on public disclosures by Sunrise Shares Holdings Ltd. and may be subject to change. Investors are advised to conduct their own due diligence and consult with professional advisors before making investment decisions. The Singapore Exchange Securities Trading Limited assumes no responsibility for the contents of this article.

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