Yip's Chemical Holdings Ltd. announced that resignation of Mr. Wong Kam Yim as the chief executive officer of the Group, an executive director of the company, due to his personal engagement with effect from 1 January 2016. The company appointed Mr. Wong Yuk will be appointed as an Executive Director and an authorised representative of the company. Also, Yip Tsz Hin, the deputy chairman of he Group and an Executive Director, together with Mr. Y. Wong will be jointly appointed as the co-chief executive officers of the Group.

As such, Mr. Y. Wong will no longer be the deputy chief executive officer of the Group. Mr. Yip and Mr. Y. Wong will be separately responsible for the development, operations, and management of different business segments of the Group. In particular, Mr. Yip will focus on solvents and overall business development, strategic investments, external relations to explore significant business opportunities available to the Company in mainland China; whilst Mr. Y. Wong will be responsible for management of the business segments of coatings, inks and lubricants as well as all supporting functions of the Group.

Mr. Yip has over 30 years of experience in the manufacture of and trading in petrochemical products. Mr. Y. Wong joined the Group as the deputy chief executive officer in 2015 and was appointed as a member of the GEC on 8 April 2015. Mr. Y. Wong has nearly 30 years of extensive experience in the petrochemical industry.