Far East Global (HKG:0830) announced that its board of directors has resolved to serve a notice on Chiu Lok-man to remove him as an executive director of the company with effect from 30 January 2012. The removal is made on the ground that Chiu is no longer in employment with the company or its subsidiaries and thus cannot perform the duty of an executive director for the interest consistent with that of the company.

Apart from the termination of his employment as an employee of the company, the board is not aware of any disagreement between Chiu and the board or any matters that need to be brought to the attention of holders of securities of the company. The board also considers that the removal of Chiu from his directorship with the company will not have any adverse effect on the operations of the company and its subsidiaries.