The Board of Directors of Hong Leong Asia Ltd. announced that pursuant to the Nominating Committee's recommendation, the Board has approved the appointment of Mr. Stephen Ho Kiam Kong as CEO of the company. Mr. Ho's appointment as Director will take effect from August 3,2020. Pending Mr. Tan Eng Kwee's departure from the company on August 16, 2020 pursuant to his resignation as announced on July 16, 2020, Mr. Ho will join the Company as CEO-Designate of the Company on August 3, 2020 to allow for a smooth transition in the role of the CEO, which responsibilities he will assume in full with effect from August 17, 2020. Mr. Ho was the Chief Financial Officer of Wilmar International Limited until May 31, 2020. Prior to his joining Wilmar International Limited in 2011, he was the Senior Vice President and CFO, Greater China, of Philips Electronics China Group from July 2003 to October 2011, and Vice President, Global Head of Finance and Treasury of LG. Philips Displays International Ltd. in Hong Kong from June 2001 to June 2003. His earlier career years were spent in the banking sector.