Discovery World Corporation at its Board meeting held on February 27, 2018 announced that the Board of Directors accepted the resignation of Mr. Chun Bing G. Uy as Independent Director of the corporation, effective March 31, 2018, to attend to other matters which are equally pressing. With his resignation he will likewise cease to be a Chairman of the Audit Committee, and member of the Board Risk Oversight Committee and Corporate Governance Committee. In the same meeting, Mr. William L. Chua was elected as Independent Director of the corporation, effective April 1, 2018, to serve Mr. Uy's unexpired term. He was likewise appointed as Chairman of the Audit Committee, and Member of the Board Risk Oversight Committee and Corporate Governance Committee. Mr. W. L. Chua serves as Independent Director of Sterling Bank of Asia Inc. He is the Vice ­Chairman of Wordtext Systems Inc., He is the Chairman and President of LSI Leading Technologies Inc. He is likewise a director of Nexus Technologies Inc., WSI. Technologies Inc., Jupiter Systems Inc., Information Technology Security Distribution Inc., and Aikontech Systems Inc. Mr. John Y. Tiu.,Jr. stepped down as member of the Board Risk Oversight Committee in accordance with good corporate governance practices.