{"url_path":"/sec/apex/10-k/2026/item-6","section_key":"item-6","section_title":"Item 6 ****DIRECTORS,","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/2069858/0001213900-26-054917-index.html","accession_number":"0001213900-26-054917","cik":"0002069858","ticker":"APEX","issuer_name":"APEX Global Solutions Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/2069858/0001213900-26-054917-index.html","primary_entity_key":"0002069858","primary_entity_name":"APEX Global Solutions Ltd"},"word_count":4402,"has_tables":true,"body_markdown":"**ITEM 6.****DIRECTORS,\nSENIOR MANAGEMENT AND EMPLOYEES**\n\n** **\n\n**6.A. Directors\nand Senior Management**\n\n** **\n\nThe\nfollowing table sets forth certain information regarding our directors and executive officers.\n\n \n\n**NAME**\n \n**AGE**\n \n**POSITION**\n\nGoh Kwang Yong\n \n54\n \nChairman of the Board of Directors\nand Chief Executive Officer\n\nWan Hwee Chein\n \n53\n \nDirector and Chief Operating Officer\n\nFoo Ling Han\n \n42\n \nChief Financial Officer\n\nLok Tze Kong\n \n40\n \nIndependent Director\n\nYang Pik Wei\n \n52\n \nIndependent Director\n\nYap Jin Yuan\n \n39\n \nIndependent Director\n\n \n\n**Goh\nKwang Yong**. Mr. Goh has served as APEX Global’s Chairman of the Board and Chief Executive Officer since May 20, 2025. Mr.\nGoh is a seasoned professional in the marine industry with extensive experience since 1998. He founded our subsidiary, Jeneric International\nPte. Ltd., in 2009, where he successfully drove strategic planning and identified key opportunities for growth. His career is marked\nby a deep expertise in the marine and oil & gas industries. Prior to establishing our business, Mr. Goh founded the Hypex Group of\nCompanies in Singapore in 2002 and served as its Managing Director until 2009. Earlier in his career, Mr. Goh held multiple roles at\nAllbest Marine Engineering Pte. Ltd. in Singapore, advancing from Operations Executive to General Manager from 1998 to 2002. Mr. Goh\nholds a bachelor’s degree in business (banking) from Nanyang Technological University in Singapore, equipping him with a strong\nfoundation in business management and finance.\n\n \n\n**Wan\nHwee Chein**. Ms. Wan has served as APEX Global’s director and Chief Operating Officer since May 20, 2025. Ms. Wan is an\nexperienced professional who has accumulated over 20 years of professional experience. In 2009, she joined our subsidiary, Jeneric International\nPte. Ltd., as the General Manager, where she has been instrumental in overseeing the administration, purchasing, and human resource functions\nfor the Company and has played a key role in driving our organizational efficiency. Ms. Wan holds a Bachelor of Science (Economics) degree\nin Management Studies from the University of London, which has equipped her with a strong foundation in monitoring financial performances\nand streamlining operational procedures.\n\n \n\n54\n\n \n\n \n\n**Foo\nLing Han**. Mr. Foo has served as APEX Global’s Chief Financial Officer since May 20, 2025. Mr. Foo is an experienced finance\nprofessional with nearly 20 years of experience in audit, accounting, and financial reporting. From April 2017 to December 2024, Mr.\nFoo served as an Audit Manager at Hall Chadwick Assurance PAC (formerly known as Assurance PAC), a Singapore-based public accounting\nfirm, where he led audit engagements for clients across various industries and advised on complex U.S. GAAP, Singapore Financial Reporting\nStandards (FRS), and International Financial Reporting Standards (IFRS) matters. Prior to that, he held audit and finance roles at several\nfirms in senior positions. Mr. Foo holds a Bachelor of Arts (Hons) degree in Accounting from the University of Bedfordshire.\n\n \n\n**Lok\nTze Kong**. Mr. Lok has served as APEX Global’s independent director since May 20, 2025. Mr. Lok has more than ten years\nof engineering and management experience in industrial sectors. Since May 2021, he has been serving as the financial vice president for\nHempel (Malaysia) Sdn. Bhd, where he oversees commercial and finance functions for engineering services across Southeast Asia and supervises\noverall internal control relating to business operations and financial reporting. From June 2018 to April 2021, he served as an operation\nmanager at Dayang Enterprise Holdings Berhad. From July 2014 to May 2018, Mr. Lok was a senior engineer at Bahru Stainless Sdn Bhd. Mr.\nLok earned his Bachelor of Science degree in Mechanical Engineering from Universiti Teknologi Malaysia in 2008, and his Master in Business\nAdministration degree from University of Malaya in 2013. He has also completed annual continuing-professional-development workshops covering\nInternational Financial Reporting Standards (IFRS) and basic corporate-reporting requirements in Singapore and Malaysia.\n\n \n\n**Yang\nPik Wei**. Mr. Yang has served as APEX Global’s independent director since May 20, 2025. Mr. Yang is the co-founder of Axxel\nMarketing Pte Ltd, an SME1000 company in Singapore with subsidiaries in Singapore, Malaysia, China and Vietnam. He had been a member\nof the Board of Directors for Axxel Marketing Pte Ltd for 19 years from 2003 until 2022, and has served as the chief executive officer\nof Axxel Marketing Pte Ltd since 2018. Mr. Yang graduated from Nanyang Technological University in 1996 with a Bachelor’s Degree\nin Business Studies (Banking).\n\n \n\n**Yap\nJin Yuan.**Mr. Yap has served as APEX Global’s independent director since August 7, 2025*.*Since\nMarch 2022, he has been an engineering advisor with Tenaga Nasional Berhad, a Malaysian public company, reviewing power-plant\nmaintenance plans, equipment records, and safety documentation. From June 2017 to February 2022, he worked as a reliability engineer\nat Petronas Gas Berhad, a Malaysian public company, coordinating scheduled shutdowns, and preparing compliance reports. Mr. Yap\nearned a Bachelor of Engineering degree in Mechanical Engineering from UCSI University in 2009.\n\n \n\nOther\nthan Goh Kwang Yong and Wan Hwee Chein being spouses, no family relationship exists between any of our directors and executive officers.\nThere are no arrangements or understandings with major shareholders, customers, suppliers or others pursuant to which any person referred\nto above was selected as a director or member of senior management.\n\n \n\n**6.B. Compensation**\n\n** **\n\nCurrently,\nthere are no requirements for disclosure of the compensation of officers and directors on an individual basis for our most recently completed\nfiscal year under British Virgin Islands law. For the fiscal year ended December 31, 2025, we paid aggregate compensation of approximately\nS$602,338 (approximately $468,438) to our directors and executive officers as a group, including salaries and employer’s contribution\nto the Central Provident Fund, a mandatory social security scheme in Singapore. We did not pay any other compensation or benefits in\nkind to our directors and executive officers. None of our directors or executive officers received any equity awards, including options,\nrestricted shares or other equity incentives in the year ended December 31, 2025. Our board of directors may determine compensation to\nbe paid to the directors and the executive officers. The compensation committee will assist the directors in reviewing and approving\nthe compensation structure for the directors and the executive officers.\n\n \n\n**6.C. Board\nPractices**\n\n** **\n\nNasdaq’s\nlisting rules generally require that a majority of an issuer’s board of directors must consist of independent directors. Our board\nof directors currently consists of five (5) directors, three of whom are independent within the meaning of Nasdaq’s rules: Lok\nTze Kong, Yang Pik Wei, and Yap Jin Yuan.\n\n \n\nA\ndirector is not required to hold any shares in APEX Global to qualify to serve as a director of APEX Global. The board of directors of\nAPEX Global may exercise all the powers of APEX Global to raise or borrow money, and to mortgage or charge its undertaking, property\nand assets (present and future) and uncalled capital or any part thereof, to issue debentures, debenture stock, bonds or other securities,\nwhether outright or as collateral security for any debt, liability or obligation of the company or of any third-party.\n\n \n\n55\n\n \n\n \n\nA\ndirector of APEX Global who is in any way, whether directly or indirectly, interested in a contract or arrangement or proposed contract\nor arrangement with APEX Global is required to declare the nature of his interest to the board of directors of APEX Global. Following\na declaration being made, subject to any separate requirement for any audit committee approval under applicable law or the listing rules\nof Nasdaq, and unless disqualified by the chairman of the relevant board meeting, a director may vote in respect of any contract, proposed\ncontract, or arrangement notwithstanding that he may be interested therein, and if he does so his vote shall be counted and he may be\ncounted in the quorum at any meeting of our directors at which any such contract or proposed contract or arrangement is considered.\n\n \n\n**Board\nCommittees**\n\n \n\nWe\nhave established a standing audit committee, compensation committee and nominating and corporate governance committee of our board of\ndirectors and adopted a charter for each committee. Each committee’s members and functions are described below.\n\n \n\n**Audit\nCommittee**\n\n \n\nThe\naudit committee of APEX Global consists of three directors, namely, Lok Tze Kong, Yang Pik Wei and Yap Jin Yuan, each of whom satisfies\nthe “independence” requirements under the rules of Nasdaq and SEC. Each member of our audit committee is financially literate.\nLok Tze Kong serves as the chairperson of our audit committee. The board of directors of APEX Global has also determined that Lok Tze\nKong qualifies as an “audit committee financial expert” as that term is defined in Item 407(d)(5)(ii) of Regulation S-K promulgated\nunder the Securities Act. This designation does not, however, impose on him any supplemental duties, obligations, or liabilities beyond\nthose that are generally applicable to the other members of our audit committee and board of directors. The audit committee oversees\nour accounting and financial reporting processes and the audits of the financial statements of our company. The audit committee is responsible\nfor, among other things:\n\n \n\n \n●\nappointing the independent\nauditors and pre-approving all auditing and non-auditing services permitted to be performed by the independent auditors;\n\n \n\n \n●\nreviewing with the independent\nauditors any audit problems or difficulties and management’s response;\n\n \n\n \n●\ndiscussing the annual audited\nfinancial statements with management and the independent auditors;\n\n \n\n \n●\nreviewing the adequacy\nand effectiveness of our accounting and internal control policies and procedures and any steps taken to monitor and control major\nfinancial risk exposures;\n\n \n\n \n●\nreviewing and approving\nall proposed related party transactions;\n\n \n\n \n●\nmeeting separately and\nperiodically with management and the independent auditors; and\n\n \n\n \n●\nmonitoring compliance with\nour code of ethics and business conduct, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.\n\n \n\n**Compensation\nCommittee**\n\n \n\nThe\ncompensation committee of APEX Global consists of three directors, namely, Lok Tze Kong, Yang Pik Wei and Yap Jin Yuan, each of whom\nsatisfies the “independence” requirements under the rules of Nasdaq and SEC. Each member of this committee is also a “non-employee director”\nwithin the meaning of Rule 16b-3 under the Exchange Act. Yang Pik Wei serves as the chairperson of our compensation committee.\nThe compensation committee assists the board of directors of APEX Global in reviewing and approving the compensation structure, including\nall forms of compensation, relating to our directors and executive officers. The compensation committee is responsible for, among other\nthings:\n\n \n\n \n●\nreviewing and approving,\nor recommending to the board for its approval, the compensation for our chief executive officer and other executive officers;\n\n \n\n56\n\n \n\n \n\n \n●\nreviewing and recommending\nto the board for determination with respect to the compensation of our non-employee directors;\n\n \n\n \n●\nreviewing periodically\nand approving any incentive compensation or equity plans, programs or similar arrangements; and\n\n \n\n \n●\nselecting compensation\nconsultant, legal counsel or other adviser only after taking into consideration all factors relevant to that person’s independence\nfrom management.\n\n** **\n\n**Nominating\nand Corporate Governance Committee**\n\n \n\nThe\nnominating and corporate governance committee of APEX Global consists of three directors, namely, Lok Tze Kong, Yang Pik Wei and Yap\nJin Yuan, each of whom satisfies the “independence” requirements under the rules of Nasdaq and SEC. Yap Jin Yuan serves as\nthe chairperson of our nominating and corporate governance committee. The nominating and corporate governance committee assists the board\nof directors of APEX Global in selecting individuals qualified to become our directors and in determining the composition of the board\nand its committees. The nominating and corporate governance committee is responsible for, among other things:\n\n \n\n \n●\nselecting and recommending\nto the board nominees for election by the shareholders or appointment by the board;\n\n \n\n \n●\nreviewing annually with\nthe board the current composition of the board with regards to characteristics such as independence, knowledge, skills, experience\nand diversity;\n\n \n\n \n●\nmaking recommendations\non the frequency and structure of board meetings and monitoring the functioning of the committees of the board; and\n\n \n\n \n●\nadvising the board periodically\nwith regards to significant developments in the law and practice of corporate governance as well as our compliance with applicable\nlaws and regulations, and making recommendations to the board on all matters of corporate governance and on any remedial action to\nbe taken.\n\n* *\n\n**Duties\nof Directors**\n\n* *\n\nUnder\nBritish Virgin Islands law, the directors of APEX Global owe fiduciary duties to APEX Global, including a duty of loyalty, a duty to\nact honestly, and a duty to act in what they consider in good faith to be in the best interests of APEX Global. The directors of APEX\nGlobal must also exercise their powers only for a proper purpose. The directors of APEX Global also owe to APEX Global a duty to act\nwith skill and care. It was previously considered that a director need not exhibit in the performance of his duties a greater degree\nof skill than may reasonably be expected from a person of his knowledge and experience. However, English and Commonwealth courts have\nmoved towards an objective standard with regard to the required skill and care and these authorities are likely to be followed in British\nVirgin Islands. In fulfilling their duty of care to APEX Global, its directors must ensure compliance with the Memorandum and Articles\nof Association. APEX Global has the right to seek damages if a duty owed by its directors is breached. In limited exceptional circumstances,\na shareholder may have the right to seek damages in the name of APEX Global if a duty owed by the directors of APEX Global is breached.\nYou should refer to “*Description of Shares—Differences in Corporate Law*” for additional information on our standard\nof corporate governance under British Virgin Islands law.\n\n \n\nThe\nfunctions and powers of the board of directors of APEX Global include, among others:\n\n \n\n \n●\nconvening shareholders’\nannual general meetings and reporting its work to shareholders at such meetings;\n\n \n\n \n●\ndeclaring dividends and\ndistributions;\n\n \n\n \n●\nappointing officers and\ndetermining the term of office of officers;\n\n \n\n \n●\nexercising the borrowing\npowers of our company and mortgaging the property of our company; and\n\n \n\n \n●\napproving the transfer\nof shares of APEX Global, including the registering of such shares in the share register of APEX Global.\n\n \n\n57\n\n \n\n \n\n**Terms\nof Directors and Officers**\n\n** **\n\nDirectors\nof APEX Global may be elected by a shareholder resolution. In addition, the board of directors of APEX Global may, by the affirmative\nvote of a simple majority of the directors present and voting at a board meeting appoint any person as a director either to fill a casual\nvacancy on its board or as an addition to the existing board. Officers of APEX Global are elected by and serve at the discretion of the\nboard of directors of APEX Global. The directors of APEX Global are not subject to a term of office and will hold office until such time\nas they resign or otherwise removed from office by ordinary resolution of the shareholders. A director will cease to be a director automatically\nif, among other thing, the director (i) becomes bankrupt or has a receiving order made against him or suspends payment or compounds\nwith his creditors; (ii) is found to be or becomes of unsound mind or dies; (iii) resigns his office by notice in writing to\nthe company; (iv) without special leave of absence from the board of directors, is absent from three consecutive meetings of the\nboard and the board resolves that his office be vacated; (v) is prohibited by law from being a director or; (vi) is removed from\noffice pursuant to the laws of British Virgin Islands or any other provisions of our Memorandum and Articles of Association.\n\n \n\n**Employment\nAgreements**\n\n \n\nAPEX\nGlobal has entered into service agreements with its officers governed under Singapore law in the form filed as an exhibit to this annual\nreport. Under such agreements, each executive officer is employed for an initial term of one (1) year, with automatic renewals on a one-year\nbasis, unless earlier terminated in accordance with the agreement’s terms. The officer’s annual salary is payable in twelve\nequal monthly installments, and he or she will be eligible to receive an annual performance-based and/or variable bonus, payable in cash\nand/or shares, as determined by our board of directors and compensation committee in their discretion based on, among other factors,\nthe profitability of the Company. In addition, the agreement provides that the officer will be eligible to participate in any share option\nor equity incentive plan that may be adopted by the Company, at the discretion of the board of directors and compensation committee.\n\n \n\nThe\nagreement also provides that the Company will cover reasonable business expenses, travel expenses, and medical insurance premiums in\naccordance with the Company’s policies, and will provide additional standard executive benefits, including annual leave and other\nstatutory and discretionary leave entitlements. The agreement is subject to a six-month notice period for termination by either party\nfollowing the initial term, or payment of six months’ salary in lieu of notice, except where termination is for cause as defined\nin the agreement. The Company may also terminate the agreement with immediate effect for certain specified grounds, including misconduct,\nbreach of agreement, bankruptcy, or permanent incapacity. The officer is not entitled to any severance payments upon a sale of the Company,\nnor is the officer entitled to any compensation for loss of office upon termination for any reason.\n\n \n\nThe\nofficer is subject to customary confidentiality, intellectual property assignment, and restrictive covenant provisions, including non-competition\nand non-solicitation covenants that apply during employment and for a period of one year following termination of employment.\n\n** **\n\n**2025\nEquity Incentive Plan**\n\n \n\n*Purposes\nof the 2025 Plan*\n\n \n\nThe\n2025 Plan is designed to promote the long-term success of APEX Global by encouraging employees, directors and consultants to focus on\nthe Company’s performance, attracting and retaining talent and aligning participants’ interests with shareholders through\nincreased share ownership. It permits grants of award types including incentive share options (“ISOs”), non-statutory share\noptions (“NSOs”), restricted shares, restricted share units (“RSUs”) and share appreciation rights (“SARs”).\n\n \n\n*Administration*\n\n \n\nUnless\notherwise determined by the board of directors of APEX Global, the 2025 Plan is administered by its compensation committee. The committee\nhas broad powers to determine fair market value, select participants, set the number and terms of awards, interpret the 2025 Plan and\naccelerate vesting or exercisability, among other discretionary authorities.\n\n \n\n*Authorized\nShares*\n\n \n\nSubject\nto the adjustment provisions contained in the 2025 Plan, a total of 5,000,000 Class A Ordinary Shares are reserved for issuance pursuant\nto the 2025 Plan. If restricted shares or shares issued upon the exercise of options under the 2025 Plan are forfeited or repurchased,\nthen such shares shall again become available for awards under the 2025 Plan. If RSUs, options or SARs under the 2025 Plan are forfeited\nor terminated for any other reason before being exercised or settled, then the corresponding Class A Ordinary Shares shall again become\navailable for awards under the 2025 Plan.\n\n \n\n58\n\n \n\n \n\n*Share\nOptions (ISOs and NSOs)*\n\n \n\nShare\noptions may be granted under the 2025 Plan. Except with respect to substitute awards granted in connection with certain corporate transactions,\nthe per share exercise price of options granted under the 2025 Plan must be equal to at least 100% of the fair market value of a Class\nA Ordinary Share of APEX Global on the date of grant. The term of an option may not exceed ten years. With respect to any participant\nwho owns more than 10% of the voting power of all classes of APEX Global’s (or any of its parents’ or subsidiaries’)\noutstanding shares, the term of an incentive share option granted to such participant must not exceed five years and the per share exercise\nprice must equal at least 110% of the fair market value of a Class A Ordinary Share on the grant date of APEX Global. The administrator\nwill determine the methods of payment of the exercise price of an option, which shall be cash or cash equivalents, or, if the administrator\npermits, by share surrender or other methods. After the cessation of service of an employee, director or consultant, he or she may exercise\nhis or her option for the period of time stated in his or her option agreement. In the absence of a specified time in an award agreement,\nif such cessation is due to termination of service for cause, the option will terminate upon such cessation of services. If such cessation\nis due to death or disability, the vested portion of the option will remain exercisable for twelve (12) months. In all other cases, in\nthe absence of a specified time in an award agreement, the vested portion of the option will remain exercisable for three (3) month following\nthe cessation of service. An option, however, may not be exercised later than the expiration of its term. Subject to the provisions of\nthe 2025 Plan, the administrator determines the terms of options. Until the Class A Ordinary Shares are issued (as evidenced by the appropriate\nentry in the Register of Members of APEX Global), the participant will not have any right to vote or receive dividends or have any other\nrights as a shareholder with respect to such shares, and no adjustment will be made for a dividend or other right for which the record\ndate is before the date such shares are issued, except as otherwise provided in the 2025 Plan.\n\n \n\n*Restricted\nShares*\n\n \n\nEach\naward will be evidenced by an award agreement. The award agreement sets the number of shares, period of restriction, purchase price (if\nany), vesting criteria and transfer restrictions. The Company may hold certificates until restrictions lapse. During the restriction\nperiod, restricted shares are subject to forfeiture if vesting conditions are not met; the administrator may waive any vesting conditions\nor shorten the restriction period. Restricted shares may be sold for any form of consideration (cash, property, promissory notes, past\nor future services) and may be issued in exchange for cancelled options or SARs. Holders of restricted shares have full voting rights\nand receive dividends during the restriction period; any dividend shares are subject to the same vesting and forfeiture conditions. Restricted\nshares generally cannot be transferred until vesting conditions are satisfied; restrictions are removed once vesting is achieved.\n\n* *\n\n*Restricted\nShare Units (RSUs)*\n\n \n\nRSUs\nmay be granted under the 2025 Plan. Award agreements specify the number of units, vesting criteria, form of payout and such other terms\nand conditions. During the restriction period, RSUs are subject to forfeiture. The administrator may waive the forfeiture or shorten\nthe period. Payment of vested RSUs occurs at the time and in the manner specified in the award agreement. RSUs may be settled in cash\nequal to the market value of the underlying shares, in shares or a combination. Participants have no voting or dividend rights until\nshares are actually issued.\n\n \n\n*Share\nAppreciation Rights (SARs)*\n\n \n\nSARs\nmay be granted under the 2025 Plan. SARs allow the recipient to receive the appreciation in the fair market value of APEX Global Class\nA Ordinary Shares between the exercise date and the date of grant. The exercise price may not be less than the fair market value of a\nshare on the grant date, and no SAR may be exercised after the tenth anniversary of the grant date. Payment upon exercise may be made\nin cash, shares or a combination, as the administrator decides.\n\n \n\n*Adjustments,\nCorporate Transactions and Change-in-Control*\n\n \n\nThe\nadministrator may adjust the number and type of shares and other terms of outstanding awards to reflect dividends, share splits or similar\nevents. In a dissolution or liquidation, awards terminate immediately before the transaction. Upon a change in control, the administrator\nmay (i) accelerate vesting; (ii) have awards assumed by the acquirer; (iii) substitute with awards of the surviving entity; (iv) make\nawards fully exercisable and require exercise before the closing; or (v) cancel options and SARs in exchange for cash equal to the excess\nof fair market value over exercise price and cancel RSUs for cash equal to fair market value of the underlying shares.\n\n \n\n59\n\n \n\n \n\n*Non-Transferability\nof Awards*\n\n \n\nAwards\ngranted under the 2025 Plan are generally non-transferable and may be exercised during the participant’s lifetime only by the participant.\nAny shares issued pursuant to an award will be registered in the participant’s name and remain subject to the terms of the applicable\naward agreement. Limited exceptions permit transfers, upon notice to the administrator, to certain family members (as defined under SEC\nRule 701) by gift, to a trust established solely for tax planning purposes, or pursuant to a qualified domestic relations order.\n\n \n\n*Forfeiture\nand Clawback*\n\n \n\nAwards\ngranted under the 2025 Plan, and any proceeds received in respect of such awards, are subject to the Company’s clawback policy,\nas may be adopted or amended from time to time, in order to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer\nProtection Act, applicable stock exchange listing standards, and other applicable laws and regulations. The clawback may include, where\npermitted by law, the recoupment of compensation through future deductions from salary, bonuses or other compensation. Acceptance of\nan award constitutes the participant’s agreement to these clawback provisions as a condition of the award.\n\n \n\n*Amendment\nor Termination*\n\n \n\nThe\n2025 Plan became effective as of August 13, 2025. The 2025 Plan will expire on, and no award may be granted pursuant to the 2025 Plan\nafter, the tenth (10th) anniversary of August 13, 2025. Any awards that are outstanding on the tenth (10th) anniversary of August 13,\n2025 shall remain in force according to the terms of the 2025 Plan and the applicable award agreement.\n\n \n\n**6.D. Employees**\n\n** **\n\nAs\nof December 31, 2025, 2024, and 2023, we had 121, 140, and 149 employees, respectively. As of May 8, 2026, we had 106 employees, comprising\n104 full-time and 2 part-time employees, all based in Singapore. The following table sets forth the breakdown of our employees by function.\n\n \n\nFunction \nNumber of\n\nEmployees  \nPercentage \n\nGeneral Management Office \n 3  \n 3%\n\nFinance \n 2  \n 2%\n\nProcurement \n 1  \n 1%\n\nCommercial/Costing \n 2  \n 2%\n\nAdministration and Human Resources \n 2  \n 2%\n\nConsultant \n 1  \n 1%\n\nOperations \n 13  \n 12%\n\nTechnical/Maintenance \n 10  \n 9%\n\nLogistics \n 5  \n 5%\n\nQuality Control \n 1  \n 1%\n\nGeneral Workers \n 15  \n 14%\n\nSkilled Workers \n 49  \n 46%\n\nFlexible Hour Workers\n(Part-Time Employees) \n 2  \n 2%\n\nTotal \n 106  \n 100%\n\n \n\nWe\nenter into standard employment contracts with our employees which contain standard confidentiality provisions. We believe that we have\ngood relationships with our employees. None of our employees are represented by a labor union or covered by a collective bargaining agreement.\n\n \n\n**6.E. Share\nOwnership**\n\n** **\n\nSee\n“*Item 7. Major Shareholders and Related Party Transactions—7.A. Major Shareholders*.” \n\n \n\n60\n\n \n\n \n\n**6.F. Disclosure\nof Registrant’s Action to Recover Erroneously Awarded Compensation**\n\n** **\n\nNot\nApplicable."}