The board of directors of Guoco Group Limited together with its subsidiaries announced that, with effect from 1 September 2016, Mr. Quek Leng Chan (“Mr. Quek”) has relinquished his position as a director and the Chairman of the Board following internal restructuring of the Hong LeongGroup (of which the Company is a member). He, accordingly, ceased to be the Chairman of the Board Nomination Committee of the Company (the “BNC”) and a member of the Board Remuneration Committee (the “BRC”) of the Company on even day. The Board also announced that with effect from 1 September 2016, Mr. Kwek Leng Hai (“Mr. Kwek LH”) has been re-designated from President, CEO to the Executive Chairman of the Board, and appointed as the Chairman of the BNC and a member of the BRC.

Mr. Kwek LH, aged 63, has been the President, CEO and a Director of the Company since 1995 and 1990 respectively. The Board also announced that Mr. Tang Hong Cheong (“Mr. Tang”) has been appointed as a Director and the President & CEO of the Company with effect from 1 September 2016. Mr. Tang, aged 61, is also the Non-executive Director of GLL and Lam Soon appointed on 1 September 2016.

Prior to joining the Guoco Group, he was the President/Finance Director of HL Management Co Sdn Bhd.