The Board of Far East Consortium International Limited announced that with effect from 30 August 2022: Mr. Kwok Wai CHAN has retired as an INED, ceased to be the chairman of the Audit Committee and Remuneration Committee, and a member of the Nomination Committee; and Mr. Wai Hon Ambrose LAM has been appointed as an INED, the chairman of the Audit Committee and Remuneration Committee, and a member of the Nomination Committee. The Board announced that Mr. Wai Hon Ambrose LAM ("Mr. LAM") has been appointed as an INED, the chairman of the Audit Committee and Remuneration Committee, and a member of the Nomination Committee with effect from 30 August 2022. Mr. LAM, aged 69, is a fellow member of The Institute of Chartered Accountants in England and Wales and a member of Hong Kong Institute of Certified Public Accountants.

He holds a Bachelor of Arts (Honours) degree from University of Newcastle Upon Tyne in England. Mr. LAM has over 40 years of experience in professional accounting, merchant banking and financial services and has served in senior management roles in a number of major international banking and financial institutions. Mr. LAM is currently an independent non-executive director of Pacific Online Limited and Playmate Toys Limited which are listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

During the previous three years, Mr. LAM served as an independent non-executive director of China Agri-Industries Holdings Limited and resigned on 2 June 2020 following the privatization of the company with its listing status voluntarily withdrawn in March 2020. Prior to his resignation on 18 January 2022, Mr. LAM also served as an independent non-executive director of Genting Hong Kong Limited.