The board of directors of M Development Ltd. announced the resignation of Mr. Huang Wei-Lai as the Executive Chairman of the Company be and is hereby accepted with immediate effect and that Mr. Huang will remain as an Executive Director of the Company; that Mr. Chin Yew Choong David is appointed as the Non-Executive Chairman of the Company with immediate effect; that Mr. Yap Kian Peng is appointed as the Lead Independent Director of the Company with immediate effect; that Mr. Yap Kian Peng is appointed as the Chairman of Remuneration and Nominating Committees of the Company with immediate effect.