Asia Commercial Holdings Limited announce that with effect from 24 March 2023, Ms. Lam Kim Phung ("Ms. Lam") has been redesignated from a non-executive director to an executive director (the "Redesignation"). Ms. Lam will remain as the chairman of the Board and chairman of the Nomination Committee. Ms. Lam, aged 80, has been a non-executive director of the Company since 30 June 2022.

Ms. Lam 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.