The board of directors of Magnificent Hotel Investments Limited, Shun Ho Property Investments Limited and Shun Ho Holdings Limited (the companies) announced that Mr. Hui Kin Hing retired as independent non-executive director and a member of audit committee and nomination committee of the companies at the conclusion of the annual general meeting of the companies held on June 16, 2017. The Board of the companies further announced that with effect from June 16, 2017, Mr. LAM Kwai Cheung was appointed as independent non-executive director of the companies and a member of audit committee and nomination committee of the companies. Mr. LAM Kwai Cheung has extensive experience in accounting, auditing and financial management.

He has an audit experience for more than 20 years and was employed in an international audit firm for over 10 years. The last position of employment was Senior Manager. Currently, he is the practitioner of Terry Lam & Co., CPA.