Grand Field Group Holdings Limited announced that the Board has established a special committee comprising three independent non-executive Directors, namely Mr. Hui Pui Wai Kimber, Mr. Liu Chaodong and Mr. Tsui Matthew Mo Kan. The scope of duties of the SC includes, among other matters, conducting internal review on the occurrence of the Incident and its subsequent development; making necessary recommendations to the Board on the appropriate remedial actions and corporate governance measures to be taken in respect of the Incident to enhance the Group's future transaction approval procedures; arranging training on corporate governance for the management team of the Group; making recommendations to ensure the management team of the Group will maintain appropriate and effective risk management and internal control systems and review and monitor the effectiveness of the Group's risk management and internal control policies at least annually covering financial, operational and compliance controls, and ensure that the systems in place are adequate and effective; and obtaining external legal or other independent professional advice, if necessary, to facilitate the performance of duties by the SC.