Sincap Group Limited announced the resignation of Mr. Teng Wai Leung Wilson as Lead Independent Director, Chairman of Remuneration Committee and Member of Audit and Risk Committee and Nominating Committee. Reason For Cessation: Having served the Board for close to 4.5 years since April 2018, Mr. Teng will step down from the Board to devote more time to other projects and his personal commitments, as well as to facilitate board renewal and rejuvenation while the Company is evaluating potential reverse takeover plan as part of its corporate turnaround strategies.