The board of directors of Chinney Investments, Limited announced Mr. Herman Man-Hei Fung will retire as the managing director and executive director of the Company and will cease to be an authorized representative and a member of the remuneration committee of the company with effect from 1 April 2018. The Board announced that Mr. Yuen-Keung Chan will be appointed as the managing director and executive director and a member of the remuneration committee of the company with effect from 1 April 2018. Mr. Chan is an executive director of Hon Kwok Land Investment Company, Limited ("Hon Kwok"), an executive director, the vice chairman and the managing director of Chinney Alliance Group Limited and an executive director and the vice chairman of Chinney Kin Wing Holdings Limited, all of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

He also acts as director of various subsidiaries and associates of the Company and Hon Kwok.