Debao Property Development Ltd. announced retirement of Cheong Keng Chuan, Alfred as Lead Independent Director. Mr. Cheong Keng Chuan, Alfred who retired by rotation pursuant to Article 93 of the Company's Constitution, did not stand for re-election, retired as the Lead Independent Director at the conclusion of the Company's Annual General Meeting held on 30 November 2018. Following his retirement, Mr. Cheong also ceased to be the Chairman of the Audit Committee and a member of the Nominating Committee and the Remuneration Committee.