The board of directors of South China Holdings Company Limited announced that Mr. Ng Yuk Fung Peter will be re-designated from an executive director to a non-executive director of the company and will cease to be an executive vice chairman and a member of the executive committee of the company with effect from 16 May 2018. The Board further announced that Mr. Paul Ng, an executive director, an executive vice chairman and a member of the executive committee of the company, will be appointed as co-chief executive officer of the company with effect from 16 May 2018. Upon the appointment of Mr. Paul Ng as a co-chief executive officer, Ms. Cheung Choi Ngor ("Ms. Cheung"), an executive director, vice chairman, chief executive officer and member of the executive committee of the company, will be re-designated from chief executive officer to co-chief executive officer, and both Mr. Paul Ng and Ms. Cheung will jointly serve as co-chief executive officers of the company, sharing the Group's fast growing management work due to large scale of operation in various business sectors and expansion of businesses of the Group.