In this week’s look at human resources happenings in Asia’s real estate industry, the manager of a Singapore-liste REIT is looking for a new CEO, a senior member of Hong Kong’s billionaire Chiu family gets a title upgrade, and Lai Sun Development welcomes back a familiar face.
Ng Hsueh Ling will be stepping down from her roles as chairperson and non-independent, non-executive director of Lendlease Global Commercial Trust Management from 8 August as she is leaving Lendlease Group, according to an announcement to the Singapore stock exchange on 19 July. Having formerly served as chief executive of Singapore-listed Keppel REIT, Ng had joined the Aussie developer as managing director for Singapore and chief investment officer for Asia in 2017. Now 56, Ng has helmed Lendlease Global Commercial REIT since June 2019.
Far East Hotels and Entertainment announced to the Hong Kong stock exchange on 19 July that chief executive and executive director Derek Chiu took on the additional role of chairman from that day. Now 57, Chiu has been a director of the hospitality unit of Far East Consortium since 1989 and is the younger brother of David Chiu, who currently serves as chairman, CEO and executive director of Hong Kong-listed FEC.
Sam Cheung Sum has been appointed as an executive director of Lai Sun Development with effect from 1 August, the Hong Kong-listed builder announced on 21 July. Now 59, Cheung rejoins Lai Sun after a more than 10-year hiatus, during which he served with Agile Group Holdings, and more recently as chief financial officer of NWS Holdings’ FTLife Insurance unit. Cheung is now chief financial officer with Lai Sun after previously working for the group from 2006 through 2012.
Kuala Lumpur-listed IOI Corporation has named James Lim Tuang Ooi as an independent, non-executive director on its board from 18 July, according to a stock exchange announcement the preceding day. Now 61, Lim served in a progression of senior roles with Malaysia’s Employees Provident Fund (EPF) from 2007 to 2019, and from 2019 through 2021 was a senior advisor and director with the country’s Khazanah Nasional Berhad.
The manager of Prime US REIT said on 17 July that Pankaj Agarwal has stepped down from his role as a non-independent, non-executive director with the Singapore-listed trust, with effect from 15 August. Agarwal is said to have resigned because of an increased workload from personal and professional commitments outside of the REIT, with the 48-year-old serving as a portfolio manager with AT Capital in Singapore.
Colliers said on 20 July that it was promoting Sungwook Cho to managing director of its Korea business with immediate effect. Cho had joined the property consultancy in April of last year as executive director and head of capital markets after previously serving with Canadian property advisory firm Avison Young in the country. In 2020, Colliers had appointed Rob Wilkinson has managing director of its Seoul-based team, before Cho’s ascension this month.
Kyu Baek Kim has join Trio Capital in Hong Kong as a vice president with the recently established investment manager, according to a company statement. Kim joins Trio from its parent firm, Ovolo Hotels, where he had spent more than four years, including working most recently as head of acquisitions and development. Ovolo announced the roll-out of Trio this month to separate its investment business from hotel operations.
China Jinmao Holdings notified the Hong Kong exchange on 12 July that Li Fuli has resigned from his role as a non-executive director of the company and as a member of the board’s audit committee. Li has been replaced by Chen Aihua who was appointed as a non-executive director with the Shanghai-based developer’s board from 12 July. Chen has been with Sinochem Group, the state-run controlling shareholder of Jinmao, since 1994.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.