The board of directors of Asiasec Properties Limited announced that, with effect from January 4, 2018, Mr. Lee Seng Hui resigned as the Chairman of the Board and the Non-Executive Director of the Company due to his other business engagements. The Board announced that, with effect from January 4, 2018, Mr. Patrick Lee Seng Wei (i) resigned as the Chief Executive of the company; and (ii) has been appointed as the Chairman of the Board and the chairman of the executive committee of the Board. Mr. Lee shall remain as an Executive Director of the company.

The Board announced that, with effect from January 4, 2018, Mr. Lee Shu Yin has been appointed as the Chief Executive, an Executive Director of the company and a member of the executive committee of the Board. Mr. Lee Shu Yin is currently the chief investment officer of Grand River Properties (China) Ltd. He is also an independent non-executive director of Altus Holdings Limited.