The board of directors of TBK & Sons Holdings Limited announced that,Mr. Tan Chade Phang ("Mr. Tan") has resigned as an independent non-executive Director ("INED") of the Company, he has ceased to be the chairman of the remuneration committee (the "Remuneration Committee") and a member of the audit committee of the Board (the "Audit Committee"), with effect from 27 October 2020 as he wishes to devote more time on pursuing other personal interest. Mr. Ng Ying Kit ("Mr. Ng") has been appointed as an INED, chairman of Remuneration Committee and a member of Audit Committee with effect from 27 October 2020. Mr. Ng, aged 42, has more than 10 years of experience in corporate finance and investment banking and has considerable experience in mergers and acquisitions, debt and equity financing and corporate strategic planning. He held senior management position in a Hong Kong listed company overseeing the corporate finance function. He is currently an executive director of Grand Ocean Advanced Resources Company Limited since February 2015 where he is mainly responsible for the business development and corporate finance function.