CSE Global - RHB Research 2026-06-18: Volatility Should Taper Down Post Clarification

• We attribute the recent CSE Global's share price correction to changes in the composition of its board of directors. We continue to like CSE Global (SGX:544) for its growth potential, driven by US$1.5bn worth of orders from Amazon expected over the next five years.

• - Read this at SGinvestors.io -

Background to CSE independent director’s resignation.

• CSE Global has publish details on the recent resignation of its independent director Tan Chian Khong, after SGX sought further details and a background to his departure. CSE Global's share price corrected sharply on 4 Jun and 5 Jun, by 13% and 4%. We believe this was linked to Tan’s resignation announcement.

• - Read this at SGinvestors.io -

• Tan resigned on 2 Jun, after the disagreement. Four independent directors of its 7-member Board remain, which still fulfils SGX’s listing requirement of having at least two independent directors who make up at least one-third of a board of directors. Interim arrangements have been made to ensure independent oversight, while the nominating committee will identify and evaluate suitable candidates to fill the positions of lead independent director as well as chairman of the audit and risk committee, which Tan held.

Clarification should stabilise CSE’s trading volatility.

• Read more at SGinvestors.io.

Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2026-06-18

---

---

---