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Struijk decided to leave Winsway to pursue outside interests, the company said in a statement late on Monday.
Ma is the vice president of Winsway and is responsible for the treasury functions and internal administration.
The company posted a net loss of HK$1.9 billion ($245 million) for 2012 on lower coking coal prices and declining Chinese demand for steel.
Hong Kong-listed Winsway Coking Coal has appointed Ma Li as an executive director effective Monday April 1 to replace Apolonius Struijk, who has resigned from the post.