Richard Howard Gorges Resigns as Executive Director of the South China Assets Holdings Limited

South China Assets Holdings Limited is an investment holding company principally engaged in the provision of financial services. The Company operates through two business segments. The Property Development segment is mainly engaged in property development business in the People's Republic of China (PRC). The Financial Services segment is mainly engaged in the money lending business and the provision of investment advisory and asset management services. The Company is also involved in the provision of management services through its subsidiaries. The Company's principal subsidiaries include Crystal Hub Limited, Grandbase Universal Limited, Grandland Management Limited and South China Financial Credits Limited.