The board of directors of Courage Investment Group Limited announced that with effect from 18 August 2023, Mr. Yuen Chee Lap, Carl (Mr. Yuen), currently also the Financial Controller of the company, has been re-designated as chief operating officer of the company from his previous role as chief executive officer of the company so that Mr. Yuen could devote more time on the Group's business operations, in particular, the marine transportation business. Mr. Yuen, Aged 49, joined the company as financial manager in January 2004 and was appointed as financial controller in May 2006. Mr. Yuen had taken up the additional role as chief executive officer since September 2019 and was responsible for the Group's overall operations.

He is a director of various subsidiaries of the Company. Mr. Yuen obtained a Bachelor of Business Administration degree and a Master of Business Administration degree from the University of Houston, United States in 1997 and 1998 respectively. He is a member of the Hong Kong Institute of Directors and the Association of Hong Kong Accountants.

Mr. Yuen has rich experience in finance and accounting both in Hong Kong and the United States. He started his career in the United States when he joined a United States listed company in 2000 and served as its chief financial officer from 2000 to 2003. Mr. Yuen is an independent non-executive director of Qianhai Health Holdings Limited.

Mr. Yuen was an independent non-executive director of Fullsun International Holdings Group Co., Limited until January 2021. Both companies are listed on the Main Board of The Stock Exchange of Hong Kong Limited. The board further announces that with effect from 18 August 2023, Ms. Lee Chun Yeung, Catherine (Ms. Lee) has been appointed as chief executive officer of the company.

Ms. Lee, Aged 55, holds a Bachelor of Arts degree from Guangdong University of Foreign Studies (formerly known as Guangzhou Institute of Foreign Languages) and a Master of Business Administration degree from the University of South Australia. She has extensive experience in international trading of metal minerals and commodities. Ms. Lee had worked as an economist in a major commercial bank and a senior executive in a state-owned trading group in the People's Republic of China.

Ms. Lee was an executive director of CSC Holdings Limited (formerly known as China Strategic Holdings Limited).