The board of directors of Redco Properties Group Limited announced that Wong Yeuk Hung, who is controlling shareholder, has been appointed by the Board as executive Director and chairman of the Board with effect from March 9, 2017. He was responsible for strategic planning and overall management of the group's business from 1992 to 2014. He currently serves as a director of certain subsidiaries of the company. He currently serves as a member of the committee of the Twelfth National People's Congress of the Chinese People's Political Consultative Conference, as a Vice Chairman of the Hong Kong Federation of Fujian Associations, and as a Vice Chairman of the Hong Kong Association for the Promotion of the Peaceful Reunification of China. Mr. Wong is currently pursuing a Master degree of Business Administration in the University of Science and Technology of China. Further the Board announced that Hong Duxuan has tendered his resignation as an executive Director with effect from March 9, 2017 in order to focus on his other commitments.