Anthea Lee Exiting Keppel DC REIT as Manager Names Loh Hwee Long New CEO

The manager of Keppel DC REIT has announced the appointment of Loh Hwee Long as CEO of the Singapore-listed data centre trust to succeed departing chief Anthea Lee.

Loh, who currently serves as chief investment officer of Keppel Data Centres, will take over as Keppel DC REIT’s new boss on 28 July, the manager said Thursday in a release. Lee is said to be leaving to pursue other interests after holding the top job since February 2021.

Keppel DC REIT Management chairman Christina Tan said Loh has more than 22 years of experience in real estate investment, asset and fund management.

“Over the next two months, the board will work closely with Anthea and Hwee Long to ensure a smooth transition,” Tan said. “The board looks forward to working closely with Hwee Long to continue growing Keppel DC REIT and deliver sustainable value to all stakeholders.”

Shift to Listed Investments

Upon assuming his new role, Loh will relinquish the CIO job that he has held since mid-2021. He joined Keppel DC after just eight months with SCCPRE Hospitality REIT Management, a unit of Singapore-based SC Capital Partners.

The National University of Singapore graduate also has prior experience with Ruyi Asset Management, Keppel Capital, GIC and Mapletree Investments, where he looked after the group’s student housing initiatives.

Lee had previously served as deputy CEO and head of investment at Keppel DC REIT, which was Singapore’s best-performing listed trust as recently as 2020, when its units saw a 35 percent gain. Before that, she held the post of vice president of investment at Keppel REIT Management with a focus on regional investments and divestments.

“We would also like to thank Anthea for her contributions to the manager over the past eight years and wish her success in her future endeavours,” Tan said.

Corporation Evolves

Keppel DC REIT’s distribution per unit rose 3 percent year-on-year in the first quarter as distributable income climbed 4.1 percent. The trust’s net property income jumped 6.3 percent year-on-year to S$63.9 million (now $47.3 million) as gross revenue increased 6.5 percent to S$70.4 million. The units’ trading price is up more than 17 percent in the year to date.

Keppel Corporation in May announced plans to transform from a conglomerate into a global fund manager, with a goal of increasing assets under management to S$200 billion ($150 billion) by 2030.

Keppel, whose largest shareholder is state investment firm Temasek, aims to unify a business currently split between energy and environment, property development, digital infrastructure and asset management divisions to form a horizontally integrated model comprising fund management, investment and operating platforms.

The new fund management platform will focus on raising capital and forging ties with investors, while the investment platform will drive capital deployment. The operating platform will consolidate the group’s existing business units, which include Keppel Data Centres, with horizontal teams evaluating opportunities in targeted asset classes.