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Gateway Lifestyle board rejigs ahead of takeover; Debao Property replaces CFO

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, respectively.


* To pursue new career opportunities, Debao Property Development Ltd. CFO Su Cheng relinquished the post and was replaced by Tsang Hung Leung on Oct. 15.

* Mok Ming Wai stepped down as Soho China Ltd.'s company secretary, authorized representative and process agent Oct. 12. Wong Sau Ping assumed the vacated roles on the same date.

* The joint company secretary of Jingrui Holdings Ltd., Lai Siu Kuen, also resigned Oct. 11. She also vacated her post as the agent for acceptance of service of process and notices on the company's behalf in Hong Kong. Jingrui brought in So Lai Shan as Lai's successor.


* Cineline India Ltd. installed Vipul Parekh as its new CFO Oct. 12.

* Kamanwala Housing Construction Ltd. positioned Sejal Desai as its company secretary and compliance officer, effective Oct. 10.

* Rajesh Yadav's resignation as SRS Real Infrastructure Ltd.'s independent director took effect Oct. 9.


* Andrew Fay, an erstwhile nonexecutive director of Gateway Lifestyle Group, took on the same position at Cromwell Property Group Oct. 15, succeeding Richard Foster, who retired in November 2017. Fay was one of two directors who had planned to continue in the role at Gateway Lifestyle's board after acquirer Hometown Australia Holdings Pty. Ltd.'s takeover offer became unconditional.

* Other changes at Gateway Lifestyle Group that followed the unconditional takeover bid included appointing Hometown America Corp.'s president, Pat Zilis, as chairman in place of the outgoing Andrew Love.

Zilis, Kevin Tucker and Stuart Strong became directors of Gateway Lifestyle Operations Ltd., while the group's independent nonexecutive directors, Love, Stephen Newton, Rachel Launders and Sally Evans, retired from the board.

The board moves took effect Oct. 10.

Hong Kong

* Ng Kit Ling, executive director of Applied Development Holdings Ltd., will vacate her seat on the board Oct. 22, due to other business commitments. Ng will continue to serve as the company's financial controller and company secretary and as director at its subsidiaries.

* Harbour Centre Development Ltd. and Road King Infrastructure independent nonexecutive director Joseph Chow died Oct. 13. At Harbour Centre, Chow was also an audit committee member, while at Road King, he chaired the remuneration committee and held memberships in both the audit and nomination committees.


* KLCC Property Holdings Bhd.'s audit committee chairman, Cik Habibah binti Abdul, took on Puan Farina binti Farikhullah Khan's position as a member of the committee, while Khan was re-designated to the post of chairman of the same committee, effective Oct. 12.


* Raimon Land PCL designated Lee Chye Tek Lionel CEO, succeeding Lee Chye Cheng Adrian, who will become COO Nov. 1. Rathian Srimongkol stepped in as vice chairman of the board Oct. 12, after Lee Chye Tek Lionel resigned from the post.

* King Wai Group (Thailand) PCL named Hang Lee Chan its CEO, replacing Yupeng Huang. Montira Kiatsunthorn was named company secretary, following Supattra Tasilapa's resignation from the role.


* City & Land Developers Inc. said director Alice Gohoc died Oct. 13.


* Wong Lien Feng will step down as Olive Tree Estates Ltd.'s COO Oct. 31 to pursue other career interests.

South Korea

* Byoung Gon Choi was appointed managing director and principal of Toronto-based Avison Young (Canada) Inc.'s operations in Seoul. The office in the South Korean capital is the commercial real estate services firm's first location in Asia, where operations are slated to commence Nov. 1.