The Board announced that due to reassignment of duties and responsibilities between Mr. Sue Ka Lok and Mr. Cheung Ming, both are Executive Directors of the Company, the following changes have come into effect from 10 January 2014. Mr. Sue Ka Lok has stepped down from his position as Chief Executive Officer and has ceased to be a member of the Remuneration Committee and the Nomination Committee but shall remain as an Executive Director of the Company; and Mr. Cheung Ming has been appointed the Chief Executive Officer and a member of the Remuneration Committee and the Nomination Committee of the Company. Mr. Cheung, joined the company as an Executive Director in October 2013.

Prior to joining the Company, he had served as the executive director of Hengli & Liqi Furniture Limited, a Hong Kong company specialising in the production of furniture for sale to Europe markets, and was responsible for the international business development of Hengli. Before joining Hengli, Mr. Cheung had served as the chief executive officer of a retail company.