In this week’s edition of People in the News, a stalwart of the region-wide Guoco investment group retires after 40 years of service, while the next generation rises at mainland Chinese property management firm Kaisa Prosperity Holdings. In other moves, an SPH director steps down to make way for a reshuffle of the Singapore REIT’s board, the acting boss of an SGX-listed developer heads for the exit, and a research manager late of JLL surfaces at Heitman.
Tang Hong Cheong will retire from his position as president and CEO of Guoco Group Ltd and step down as an executive director of the company with effect from 1 January 2021, according to a statement by the Hong Kong-listed affiliate of Singapore-listed GuocoLand. The 40-year veteran of Guoco’s parent company, Malaysia-based Hong Leong Group, will see his seat on the board filled by Chew Seong Aun. Having been appointed as chief financial officer of Guoco Group on 1 November, Chew has been appointed as an executive director of the company with effect from 19 November.
Guo Xiaoting has been named vice chairwoman of mainland Chinese property management firm Kaisa Prosperity Holdings. She is the daughter of Guo Yingcheng, chairman and executive director of Kaisa Group. Now 26 years old, Guo had previously served as deputy manager of the investment banking division of Kaisa Group until January 2020. On 8 April this year, she replaced Weng Hao as an executive director of Kaisa.
SPH non-executive director David Chia Chay Poh has resigned to pave the way for a “renewal of board members” at the Singapore-based REIT, effective from 1 December. Chia has been a non-executive director since June 2013, a member of the audit and risk committee, and chair of the nominating and remuneration committee. Trina Loh has been appointed as non-executive director and will take over Chia’s committee roles. Loh is currently a director of Temasek Foundation Ecosperity and a council member of the Securities Industry Council.
Peter Wong has been elected chairman of the Hong Kong Hotels Association after serving as a member of the association’s executive committee since 2008. Wong is senior vice president for the hotel division at Hong Kong’s Sun Hung Kai Properties and general manager of Royal Plaza Hotel. He also oversees the other three hotels under Royal Hotels Hong Kong — Royal Park Hotel, Royal View Hotel and Alva Hotel by Royal — as well as other partner hotels and new hotel projects owned by SHKP.
Ooi Chee Eng, Bukit Sembawang Estates‘ acting chief executive officer, chief financial officer and company secretary, has tendered his resignation at the Singapore-listed property developer “for personal reasons”. His last day at the company will be 17 February 2021. Ooi has been CFO and company secretary since August 2018. He had assumed the role of acting CEO in September 2019 after Ng Chee Seng’s retirement.
Henka Darsono has been appointed senior associate for investment research at Heitman in Hong Kong after leaving his post as a research manager at JLL Hong Kong this month. At JLL, he provided market analysis and forecasts for the office sector, contributed to quarterly publications and was involved in consultancy projects. Heitman is a real estate investment management firm with $42.5 billion in assets under management and 10 offices worldwide.
Albert SK Chu has been named head of commercial operations at the West Kowloon Cultural District Authority in Hong Kong. Previously he was director of TH Studio in mainland China for nearly eight years, advising and consulting on commercial real estate. Chu’s other Hong Kong work experience includes a stint in product development for the city’s tourism board from 1998 to 2005. He is a graduate of Hong Kong Polytechnic University.
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