The Board of Directors of SOCAM Development Limited announced that Mr. Wong Fook Lam, Raymond (Mr. Raymond Wong), the Managing Director and Chief Financial Officer of the company, will retire from employment and the Board with effect from 1 January 2017. In light of the retirement of Mr. Raymond Wong, Mr. Wong Yuet Leung, Frankie (Frankie Wong) has been appointed as an Executive Director, the Chief Executive Officer and Chief Financial Officer of the company to succeed Mr. Raymond Wong with effect from 1 January 2017. Mr. Wong Yuet Leung is currently an Executive Director of Shui On Holdings Limited and an adviser to the Chairman of the Shui On Group.

He was a Director of Shui On Land Limited from May 2004 to May 2006 prior to its listing on The Stock Exchange of Hong Kong Limited in October 2006. Mr. Raymond Wong will vacate his positions as a member and the Chairman of the Investment Committee and the Executive Committee as well as a member of the Finance Committee of the Board following his retirement from the Company with effect from 1 January 2017. Mr. Frankie Wong has been appointed to these committees to fill the vacancies arising from the departure of Mr. Raymond Wong.

The appointments will take effect from 1 January 2017.