On 27 November 2020, the board of directors of ISP Global Limited announced that Lim Loo Kit has resigned as the independent non-executive Director and ceased to be a member of each audit committee of the Company and nomination committee of the Company and Mr. Lim Meng Yi has resigned as the independent non-executive Director and ceased to be the chairman of the remuneration committee of the Company and a member of each Audit Committee and Nomination Committee, due to their other personal career development plans with effect from 27 November 2020. The Board also announce that Dr. Cai Rongxin has been appointed as the independent non-executive Director and a member of each Audit Committee and Nomination Committee and Mr. Yan Xiaotian has been appointed as the independent non-executive Director and the chairman of the Remuneration Committee and a member of each Audit Committee and Nomination Committee with effect from 27 November 2020. Mr. Yan, aged 61, has obtained his master degree in economics from Graduate School of the Financial Research Institute of the People's Bank of China in 1986 (which was then merged with Tsinghua University and known as PBC School of Finance, Tsinghua University since 2012) and is a senior economist. Mr. Yan has over 30 years of extensive experience in economic, financing and management. Mr. Yan served as the president of the head office of Bank of China Limited, the vice president of the Guangzhou branch of CITIC Bank Corporation Limited (formerly known as CITIC Industrial Bank Limited), the general manager of CITIC Securities Co. Ltd. (Guangzhou), and a director and an executive president of South China International Leasing Co. Ltd. Mr. Yan is currently an executive director of China Youzan Limited (formerly known as China Innovationpay Group Limited, a company which is listed on GEM of the Stock Exchange, and, an independent non-executive director of both China Billion Resources Limited and Prosperity International Holdings (H.K.) Limited, companies which are listed on the Main Board of the Stock Exchange. Dr. Cai, aged 46, has obtained all his bachelor, master and doctor of philosophy degrees in economics from Sun Yat-sen University, Guangzhou of People 's Republic of China and he has become the associate professor of finance in Lingnan (University) College Sun Yat-sen University, PRC since after he acquired his doctorate in economics in 2008. Dr. Cai has been specialised in mergers and acquisitions, private equity and venture capital, as well as the economic growth and poverty.