The board of directors of Asia Financial Holdings Limited announced that Mr. MA Andrew Chiu Cheung (Mr. Ma) has resigned as an Independent Non-executive Director with effect from the conclusion of the Company's annual general meeting held on May 23, 2019 due to his other commitments and to devote more time on his personal affairs. Accordingly, Mr. Ma has also ceased as the chairman of the Audit Committee and a member of the Compliance Committee, the Remuneration Committee, the Nomination Committee and the Risk Committee (the Board Committees) of the Board with effect from May 23, 2019. Following his retirement from the Board, Mr. Ma has been appointed as an advisor to contribute his valuable views for the Group. The Board further announced that Mrs. SHUEN LEUNG Lai Sheung Loretta, being an Independent Non-executive Director and a member of the Audit Committee, the Compliance Committee, the Remuneration Committee, the Nomination Committee and the Risk Committee of the Company, has been appointed as the chairperson of the Audit Committee with effect from May 23, 2019.