The board of directors of Asia Energy Logistics Group Limited announced that Mr. Chan Sing Fai ("Mr. Chan") has tendered his resignation as an independent non-executive director of the Company with effect from 6 November 2020 as he would like to spend more time to pursue his own business. As a result, Mr. Chan also ceased to be member of Audit Committee with effect from the same date. Mr. Chan has confirmed that he has (i) no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited; and (ii) no claim whatsoever against the Company for fees, compensation for loss of office, remuneration, severance payments, pension, expenses or otherwise. The Board announced that, Mr. Hon Ming Sang ("Mr. Hon"), has been appointed as an independent non-executive director of the Company and member of Audit Committee and Remuneration Committee with effect from 6 November 2020. Mr. Hon was an independent non-executive director of SFund International Holdings Limited from November 2016 to February 2017 and has been re-designated to its executive director since February 2017. Mr. Hon has been an independent non-executive director of CEFC Hong Kong Financial Investment Company Limited since November 2016 and Finsoft Financial Investment Holdings Limited (a company listed on the GEM of the Stock Exchange with stock code: 8018) since June 2020, respectively. He was an executive director of China Smarter Energy Group Holdings Limited (a company listed on the Main Board of the Stock Exchange with stock code: 1004) from December 2012 to August 2017. The Company entered into a service agreement with Mr. Hon commencing from 6 November 2020 for a fixed term of 3 years with termination of not less than three months' notice in writing served by either party. Mr. Hon will hold office until the next general meeting of the Company after his appointment and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the Bye-laws of the Company. Mr. Sun Peng ("Mr. Sun"), an existing Executive Director of the Company, ceased to be member of the Remuneration Committee, with effect from 6 November 2020 upon the appointment of Mr. Hon as an independent non-executive director of the Company and member of Remuneration Committee and Audit Committee. Mr. Sun remains as Executive Director of the Company and member of Executive Committee of the Board.