Malacca Straits Acquisition Co Ltd appointed new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On June 14, 2023, the Board of Directors (the "Board") of Malacca Straits Acquisition Company Limited, a Cayman Islands exempted company (the "Company"), appointed Ivan Wong to serve as an additional member of the Board.


Mr. Ka Lok (Ivan) Wong, age 46, has been a director of Nocturne Acquisition Corporation, a special purpose acquisition corporation, since January 2022. He has also been the Managing Director of Wyndham Capital, which manages a portfolio of investments including special situation, private equity, and structured finance investments, as well as property investments in Asia, Europe and North America. Mr. Wong is responsible for alternative investments globally and across all asset classes. From June 2011 to May 2013, Mr. Wong served as an investment professional with ICBC International Holdings Limited, the principal investment arm of Industrial and Commercial Bank of China (ICBC) in Hong Kong. From November 2007 to June 2011, Mr. Wong served as an investment manager for Argyle Street Management Limited, an Asia-based hedge fund. Mr. Wong is a member of the American Institute of Certified Public Accountants. Mr. Wong received a B.B.A. with a concentration in Financial Engineering from the Chinese University of Hong Kong. Mr. Wong is well-qualified to serve on the Board due to his expertise in corporate finance and management and his extensive experience in investment.


There are no transactions between the Company and Mr. Wong that are subject to disclosure under Item 404(a) of Regulation S-K.


On June 14, 2023, after Mr. Wong's appointment, Gordon Lo, Stanley Wang, Vince Ming Shu Leung, Ping He and Eugene Ty Tan informed the Company of their intention to resign as directors of the Company, effective immediately. Mr. Lo also informed the Company of his intention to resign as the Chief Executive Officer and President of the Company, effective immediately. In addition, Mr. Wang informed the Company of his intention to resign as the Chief Financial Officer of the Company, effective immediately. Neither of these resignations was due to any disagreement with the Company.


As previously disclosed, the Company determined that, effective June 16, 2023, it would (a) cease all operations except for the purpose of winding up; (b) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to the Company (less taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then public shares in issue, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidation distributions, if any); and (c) as promptly as reasonably possible following such redemption, subject to the approval of the Company's remaining shareholders and the directors, liquidate and dissolve, subject in the case of (b) and (c) above to its obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. Mr. Wong, as the sole remaining director of the Company, will make decisions relating to the matters described above.


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