ARA Trust Management (Cache) Ltd., the new asset manager of industrial real estate investment trust Cache Logistics Trust, made changes to its board of directors following ARA Asset Management Ltd.'s purchase of CWT Pte. Ltd.'s shares in the manager.

The changes will take effect immediately.

The company named Moses Song, assistant group CEO and group chief investment officer at ARA Asset Management, and Chia Nam Toon, assistant group CEO and CEO of REITs and business development at ARA Asset Management, as nonexecutive directors.

Loi Pok Yen and Jimmy Yim Wing Kuen both resigned from their positions as nonexecutive directors of the manager.