The arrival of Christmas means that some of Asia’s senior real estate executives have found out where they ranked on Santa’s list, with promotions having been handed out at one of China’s largest state-owned developers and Singapore’s Temasek Holdings naming a pair of new board members.
China Resources Land announced to the Hong Kong stock exchange on 23 December that Xu Rong has been appointed president of the company with effect from that same day. Now 56, Xu had joined the state-owned developer in January of 2023 as a vice president, before being named an executive director in October of this year. Previously, Xu had served as deputy director of the Shenzhen Planning and Land Resources Committee in China Resources’ home city.
Temasek Holdings announced on 26 December that it has named Jim Hagemann Snabe to the Singapore government investment firm’s board with effect from 1 January. Currently chair of the supervisory board of Siemens AG and a member of the board of trustees at the World Economic Forum, Snabe served as co-chief executive officer of SAP AG from 2010 to 2014 and has been a member of the Temasek European Advisory Panel since 2018.
In the same announcement that revealed Snabe’s appointment, Temasek Holdings also named former KPMG partner Ong Pang Thye to its board, with that designation also taking effect from 1 January. Ong served as managing partner of KPMG in Singapore from 2016 through 2023 after having led the firm’s audit practice in Singapore and its accounting advisory services business in Asia Pacific.
Open House Group announced on 25 December that Kenta Kikuchi has been named managing executive officer of the Tokyo-based developer. In a document proposing Kenta’s appointment Open House stated that the executive has been with the company for 18 years after joining as a new graduate, and has served as head of its construction business as well as leading other units of the firm.
Mainland developer CC Land Holdings informed the Hong Kong stock exchange on 24 December that it has appointed Elaine Cheung Yu Ling to an executive director position on its board with effect from 30 December. Now 29, Chueng is the daughter of CC Land chairman and controlling shareholder Cheung Chung Kiu and has been with the company since September 2019.
Ping An Insurance on 24 December announced to the Hong Kong bourse that it has appointed Fu Xin to the position of chief financial officer of the company, subject to approval of her qualifications by China’s National Financial Regulatory Administration. Already a senior vice president of the insurer, Fu will take over the additional role of CFO from Zhang Zhicun, who will concurrently become Ping An’s assistant president and lead auditor.
Mainland China furniture retailer and mall operator Red Star Macalline notified the Hong Kong stock exchange on 27 December that its former deputy general manager, Li Jianhong, had been transferred to a non-executive director position on its board from that day. Now 51, Li had ceased to be deputy general manager from August of last year, but had remained an executive director of the company until this past week. Li no longer holds any executive role with the company.
Singapore-based logistics developer and fund manager Equalbase announced this past week that it has hired Ted Yongseok Shin as investment director, based in Seoul. Shin joins Equalbase from local player Mastern Investment Management, where he had served for more than five years, including most recently as team head for investment development at the company.
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.
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