ASIARAY (01993) has issued an announcement regarding a change in its board composition.

Mr. Ma Zhaoxiang has decided not to stand for re-election at the company's Annual General Meeting and will consequently step down from his role as an independent non-executive director upon the conclusion of the AGM.

As a result, Mr. Ma will no longer serve as an independent non-executive director, the chairman of the audit committee, or a member of the remuneration committee, with these changes taking effect immediately after the AGM.