Asiasec Properties Limited announce that Mr. Cheng Chi Kin has been appointed as an independent non-executive Director, the chairman of the remuneration committee, a member of each of the audit committee and the nomination committee of the Company with effect from 16th April, 2024. Mr. Cheng, aged 55, obtained a Degree in Business Studies from University of Glamorgan in 1992 and a Master degree in Business Administration from Cardiff Business School in 1993. Mr. Cheng is a fellow member of Hong Kong Institute of Certified Public Accountants and a fellow member of the Association of International Accountants.

He is a member of Institute of Management Accountants. Mr. Cheng has more than 30 years of working experience in merger and acquisition, finance and accounting, banking, asset management and funds operations in various industries including real estate developments, infrastructure developments, real estate investment trusts (REITS), securities investments and natural resources industries. Mr. Cheng is currently a non-executive director of Affluent Partners Holdings Limited, a company listed on the main board of The Stock Exchange of Hong Kong Limited and was formerly (i) an executive director of APHL during the period between September 2019 and March 2024; and (ii) the chairman of APHL during the period between October 2019 and March 2024.

Mr. Cheng was an executive director and the chief executive officer of China Uptown Group Company Limited from June 2022 to March 2024, an executive director of DeTai New Energy Group Limited from August 2021 to March 2024 and the chairman of the board of the same company from November 2021 to March 2024, the shares of both companies which are listed on the main board of the Stock Exchange. Following the appointment of Mr. Cheng, the Board comprises four executive Directors and three independent non-executive Directors. Since Mr. Cheng has been appointed as a member of the Audit Committee, the Company is in compliance with Rule 3.21 of the Listing Rules.

Since Mr. Cheng has been appointed as the chairman of the Remuneration Committee, the Company is in compliance with Rule 3.25 of the Listing Rules.