The board of directors of Second Chance Properties Ltd. announced that in line with corporate governance best practices to further enhance the independence of the Board, Mr. Mohamed Salleh s/o Kadir Mohideen Saibu Maricar the Founding Chairman of the Company will be stepping down as Chairman of the Company with effect from 31 August 2020. He will remain as Chief Executive Officer and Executive Director of the Company. The Board has unanimously elected Dr. Ahmad Bin Mohamed Magad as its Chairman in place of Mr. Mohamed Salleh with effect from 31 August 2020. Dr. Ahmad Magad has been first appointed as Independent Non-Executive Director of the Company since 1996 and he was also the former Non-Executive Chairman of the Company from 1 July 2007 to 30 November 2013. Dr. Ahmad Magad will relinquish his position as Lead Independent Director and assumes the current position as the Chairman of the Nominating Committee and a member of the Audit and Remuneration Committees upon his appointment as Independent Non-Executive Chairman of the Company.