Singapore-based Net Pacific Financial Holdings Ltd. said COO Kwok Chin Phang stepped down as executive director.

He will remain with the company as COO.

Cheung Ting Chor stepped down as nonindependent and nonexecutive director, but will remain as head of credit for the company's financing business.

Further, the company appointed Wong Chun Hung and Chung Wai Man independent nonexecutive directors.

The changes take effect June 13, the company said the same day.