The Board of the Guoco Group Limited announced that Mr. TANG Hong Cheong (Mr. Tang) will retire from his position as the CEO with effect from 1 January 2021. Mr. Tang confirmed that he has no disagreement with the Board and that there is no matter relating to his retirement that needs to be brought to the attention of the Shareholders and the Stock Exchange. Following the retirement of Mr. Tang, Mr. KWEK Leng Hai, Executive Chairman of the Company, will continue to lead the Group in his executive role.