The board of directors of Van Shung Chong Holdings Ltd. announced that Mr. Yao Cho Fai, Andrew ceased to act as the chief executive officer of the company but remains as the chairman of the Board, with effect from November 1, 2012. The Board announced that Mr. Frank Muñoz has been re-designated from a non-executive director to an executive director and been appointed as the chief executive officer and a member of the executive committee of the Company, with effect from November 1, 2012. Mr. Muñoz, aged 43, was appointed as a non-executive director of the company on June 17, 2011.