International Housewares Retail Company Limited announced that Mr. Chong Siu Hong (Mr. Chong) has tendered his resignation as executive director and chief executive officer of the company with effect from 7 August 2018 due to his other personal business. Mr. Chong confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the company relating to his resignation. The Board announced that Ms. Ngai Lai Ha (Ms. Ngai) has been appointed as chief executive officer of the company with effect from 7 August 2018.

Currently, Ms. Ngai is the Chairman of the Board. As Ms. Ngai is the co-founder of the group, the Board believes that it is in the best interest of the group to have Ms. Ngai taking up both roles for continuous effective management of the Board and business development of the group. Ms. Ngai is the co-founder of the Group and has been playing a key role in the continuing growth of the Group on different aspects since it opening the first store in Hong Kong back to year 1991.

Ms. Ngai has been appointed as Chairman of the Board since 1 March 2017. She is also an executive director, the Chairman of nomination committee, and a member of the remuneration committee of the company. Ms. Ngai has dedicated most of her time and efforts to developing the business, and has contributed significantly to the success of the group throughout the years.