The board of directors of South China Holdings Company Limited announced Ms. Li Yuen Yu Alice an independent non-executive director of the company and the chairman of the audit committee is re-designated as a non-executive director of the Company for providing more independent advices, especially in the accounting aspects, to the Board. Upon Ms. Li's re-designation, Ms. Li's chairmanship and membership in the Audit Committee are ceased immediately upon her re-designation. Ms. Li was as an independent non-executive director since 28 September 2004 and the chairperson of the Audit Committee before her re-designation as a non-executive director of the company. Mr. Kam Yiu Shing Tony an independent non-executive director of the company is appointed as a member and the chairman of the Audit Committee to replace Ms. Li upon Mr. Li's re-designation as a non-executive director of the company. Mr. Kam has been an independent non-executive director of the Company since 1 November 2017. Given the re-designation of Ms. Li and appointment of Mr. Kam, the composition of the Audit Committee Committee is as follows: Mr. Kam (chairperson and independent non-executive director); Mr. David Michael Norman (non-executive director); Mr. Chiu Sin Chun (independent non-executive director); Mrs. Tse Wong Siu Yin Elizabeth (independent non-executive director); and Mr. Yip Dicky Peter, J.P. (independent non-executive director). In addition the company announced appointment of Mr. Watt Ka Po James as company secretary and an authorised representative of the company. Prior to the aforesaid appointment, Mr. Watt has been responsible for company secretarial matters for listed companies in Hong Kong since 1998.