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Real Estate moves through May 30

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.


* Frasers Commercial Trust's manager appointed Tricia Whay Teng Yeo as CFO designate, effective May 29, and fully assumed Aug. 1. Yeo takes over the accounting, capital management and financial reporting functions of the manager and the trust, as Chew Chiu Shan resigned as financial controller to assume more responsibilities within the Frasers Centrepoint Ltd. group.

* LMIRT Management Ltd., Lippo Malls Indonesia Retail Trust's manager, named Wong Han Siang as its new CFO, effective July 31. Wong will replace Lo Shye Ru, who is leaving the company to pursue other career opportunities and interests.

* CapitaLand Commercial Trust named Jessica Soon Neo Tan as nonexecutive independent director and as member of the audit committee, with a May 25 effective date.


* Rakesh Sarna resigned as CEO and managing director of Indian Hotels Co. Ltd. for "personal reasons." The executive agreed to stay in the company until Sept. 30, according to Indian Hotels Chairman N. Chandrasekaran.


* Kevin Zheyi Sun has been appointed as executive director at Sunac China Holdings Ltd., effective May 25. Sun, who is a vice president of the group's Shanghai branch, replaced Shaozhong Li, who retired May 22.


* Tee Eng Ho will assume the position of nonindependent and nonexecutive director at Eastern & Oriental Bhd.'s board, effective June 1.


* Peter Warne, ALE Property Group chairman, retired May 23. Warne, who had been chairman and nonexecutive director since the company's 2003 listing on the Australian bourse, was replaced on the same day by Robert Mactier, a nonexecutive director since November 2016.


* Land and Houses PCL's Anant Asavabhokhin resigned as director and chairman of the board and executive board, effective May 22.

Hong Kong

* Zheng Zhou resigned May 23 as general manager at Joy City Property Ltd. Zhou, however, will continue to serve as chairman of the board, executive director and chairman of the nomination and the executive committees.

To replace Zhou in the position he vacated, the company appointed Peng Zhou, Joy City's deputy general manager since March 2016.


* Japan Excellent Inc.'s manager named Tadashi Yamada as compliance officer, succeeding Koichiro Kamimura, effective June 1. Yamada is the manager's assistant compliance officer since April.