Sino Construction's Director resigns

With Daniel Fong Pin Jan's resignation, more than half of the Board would still make up of Non-Executive Independent Directors.

The Board of Sino Construction announced the resignation of Daniel Fong Pin Jan as Director.

Mr. Fong's resignation was brought about by a succession of events starting from the relinquishment of CEO position of one of the company's Executive Director, Mr Zhao Chuan Wen, on 23 April 2010. He retained his Executive Chairman position then so as to provide guidance to the Group in its strategic and operational objectives. To complete the Group’s transition into professional management, Mr Zhao Chuan Wen has decided to relinquish his executive function. He shall be re-designated as Non-Executive Director and shall remain as the Non-Executive Chairman of the Company (the “Re-designation”) with effect from the conclusion of the Company’s Annual General Meeting held on 23 April 2012 (“AGM”). Consequent to the Re-designation, there will only be one Executive Director on the Board of Directors (the “Board”) with the remaining made up of Non-Executive Independent Directors. In connection thereto, Mr Daniel Fong has resigned as Non-Executive Director (the “Resignation”), according to a Sino Construction report.

With the Resignation, more than half of the Board would still make up of Non-Executive Independent Directors. The Nominating Committee (“NC”) has accepted both the Re-designation and Resignation with effect from the conclusion of the AGM. The NC has accordingly made its recommendation to the Board. After reviewing the NC’s recommendation, the Board accepted the Re-designation and the Resignation.