The Board of Directors of Public Financial Holdings Limited announced that Mr. Tan Yoke Kong has tendered his resignation as the Chief Executive of the Company with effect from 1 January 2024 due to retirement. With effect from 1 January 2024, Mr. Tan will also resign as the Chief Executive and cease to be a member of the Board Executive Committee of Public Bank (Hong Kong) Limited ("Public Bank (Hong Kong)"), a principal subsidiary of the Company. As from the effective date of his resignation, Mr. Tan will not hold any position in the Group.

The Board is pleased to further announce that Mr. Chong Yam Kiang will be appointed as the Chief Executive of the Company with effect from 1 January 2024. Following his aforesaid appointment, Mr. Chong will be re-designated from Non-Executive Director to Executive Director of the Company with effect from 1 January 2024. Mr. Chong, aged 73, has 54 years of experience in the banking and finance industry.

He was appointed a Non-Executive Director of the Company in January 2009. Mr. Chong was re-designated from Executive Director to Non-Executive Director of Public Bank (Hong Kong), and appointed as the Executive Director and Chief Executive of Public Finance Limited ("Public Finance"), another principal subsidiary of the Company, on 1 January 2020. He resigned as the Chief Executive of Public Finance on 1 November 2023.

With effect from 1 January 2024, Mr. Chong will be appointed as the Chief Executive and re-designated to Executive Director of Public Bank (Hong Kong), and also be re-designated to Non-Executive Director of Public Finance. He will continue to be a member of the Board Executive Committees of Public Bank (Hong Kong) and Public Finance, and also a director of certain subsidiaries of the Company.