The board of directors of Z-Obee Holdings Ltd. announced that Mr. Lai Hui (Mr. Lai) has been appointed as an executive Director and chief executive officer of the company for a fixed term of 2 years commencing from 4 April 2014. Mr. Lai is currently a general manager of an infrastructure investment company in the People's Republic of China (PRC). He completed professional studies in Financial Management conducted by Guangdong University of Finance in 1995.

Prior to joining of the Group, Mr. Lai had worked an deputy general manager in various companies in the PRC. The Board further announced that, with effect from April 4, 2014, Mr. Wang Shih Zen (Mr. Wang) has ceased to be the chief executive officer of the company. Mr. Wang will continue to act as an executive Director and the chairman of the Board.

The Board is also announced that Mr. Liu Jintao (Mr. Liu) has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee, a member of each of the Audit Committee and the Nominating Committee of the company with effect from April 4, 2014. Mr. Liu has entered into a letter of appointment with the company and his appointment is initially for 2 year. His appointment is also subject to retirement by rotation and/or re-election at the annual general meeting of the company according to the bye-laws of the company.

Mr. Tham Wan Loong Jerome (Mr. Tham) has resigned as an independent non-executive Director and ceased to be a chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nominating Committee with effect 4 April 2014 due to his other business commitment. Ms. Yang Jian Hui has been appointed as an authorised representative of the company for the purpose of Rules 3.05 of the Listing Rules in place of Mr. Lim Jiu Kok. Mr. Wang a will continue to act as an executive Director and the chairman of the Board.