PROPERTY and investment group Englong International has announced the appointment of Cheng Lut-tim and Fan Da-wei as executive directors. This follows the resignation of two existing executive directors, Ju Da-chang and Cheung Chung-yee, last Wednesday. The new appointments came into effect on Friday. The company reported a net loss of $20.46 million in its interim results to June 30. According to chairman Michael Huang Jincan, the group had entered into an evolutionary stage of its development. It planned to dispose of its garment manufacturing businesses, he said. But property and investment-related businesses would be retained.