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Real Estate moves through Aug. 15

S&P Global Market Intelligence presents a weekly rundown of recent significant management and board changes and personnel moves in the Asia-Pacific real estate industry. The moves are listed by sector and by announcement date in reverse chronological order. The Europe and North America Hires and Fires columns will be published Wednesday and Thursday.


* Following the death of Tsang Hing Lun, an independent nonexecutive director at Sino-Ocean Group Holding Ltd., the company named Judy Lam Sin Lai to take on the board position left by Tsang, effective Aug. 14. Together with her new directorship role, Lam will serve as chairman of the audit committee and as a member of the investment committee.


* Al-Salam REIT appointed Jamalludin Bin Kalam as joint company secretary, effective Aug. 14., with Johor Corp.'s Group of Companies.


* William Robinson stepped down as a nonexecutive director at RNY Australia Management Ltd., RNY Property Trust's responsible entity, because of personal reasons and other commitments that need his time and attention. Robinson served the board for 12 years and his resignation became effective Aug. 11.

* Vicinity Centres named Grant Kelley as its new CEO and managing director, effective at the start of 2018, replacing Angus McNaughton, who will retire at the end of 2017. Kelley, who has been the CEO of City Developments Ltd. since 2014, accepted Vicinity's offer as he intends to return home to Australia for personal reasons.

Meanwhile, City Developments Deputy CEO Sherman Kwek was appointed CEO-designate, effective Aug. 11, and will serve fully as CEO starting Jan. 1, 2018. Kwek, who has been deputy CEO since April 2016, is the son of Executive Chairman Kwek Leng Beng.

* Aventus Retail Property Fund announced the resignation of Nico van der Merwe as director and BB Retail Capital's representative on Aventus Capital Ltd.'s board, effective Aug. 11. Brett Blundy was named to succeed van der Merwe, who was redesignated to alternate director for Blundy.


* CapitaLand Ltd. announced the appointments of Anthony Lim Weng Kin and Gabriel Lim Meng Liang as independent nonexecutive directors, effective Aug. 11.

Hong Kong

* At Swire Properties Ltd., Martin Cubbon is stepping down as a nonexecutive director, with effect from Oct. 1. Michelle Low Mei Shuen, on the other hand, will be redesignated to nonexecutive director, with Lung Ngan Yee (Fanny) taking over Low's executive director and finance director posts on the same date.

* Cui Yan stepped down as a nonexecutive director at China Jinmao Holdings Group Ltd. and as a member of the remuneration and nomination committee, effective Aug. 8, due to his other business commitments. Cui's seat at the remuneration and nomination committee went to nonexecutive director An Hongjun, who relinquished his role as a member of the strategy and investment committee.

In addition, Senior Vice President Song Liuyi was appointed as an executive director and also filled in the vacancy in the strategy and investment committee.