The board of directors of Asia Commercial Holdings Limited announced that Ms. Lam Kim Phung ("Ms. Lam") has been appointed as a non-executive director of the Company, the chairman of the Board and the chairman of the Nomination Committee of the Company with effect from 30 June 2022. Ms. Lam, aged 79, is the wife of Mr. Eav Yin who was the former chairman of the Board, an executive director, the former chairman of the Nomination Committee and a member of the Remuneration Committee of the Company before he passed away in September 2020. Ms. Lam is a Cambodian Chinese and has extensive experience in watch retailing in Cambodia, Hong Kong and mainland China.

Ms. Lam was appointed as an executive director of the Company in June 1989, overseeing the purchasing function of the Group before she resigned to pursue her own career in August 1996. Following the appointment of Ms. Lam as chairman of the Nomination Committee, the Company has fully complied with the requirements of having the Nomination Committee chaired by the chairman of the Board or an independent non-executive director under Rule 3.27A of the Listing Rules.