Sun Hung Kai Properties said one of its executive directors, Maureen Fung, has resigned due to health reasons.

In a statement, the developer said the resignation took effect immediately, and that she "has confirmed that she has no disagreement with the Board of the Company and that she is not aware of any matters in relation to her resignation that need to be brought to the attention" of its shareholders.

Sun Hung Kai Properties added that it has arranged transition matters, and operations remained normal.

Fung joined the company in 1991 and was responsible for developing and managing shopping malls in Hong Kong and on the mainland.

Shares in Sun Hung Kai Properties finished 2.3 percent higher on Tuesday to close at HK$123.10.