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Far East Hospitality chairman to step down

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Far East Hospitality chairman to step down

Far East Hospitality Trust nonexecutive chairman Koh Boon Hwee will step down June 30.

Deputy Chairman Wee Kheng Jin will assume the nonexecutive chairman role July 1.

Nonexecutive director Chng Kiong Huat will also be retiring from the REIT's manager's board. He will be replaced by Vivienne Lim, effective July 1.

Far East Hospitality's managers said Far East trustee DBS Trustee Ltd. agreed loan facilities worth roughly S$95.8 million and roughly S$167.2 million from two institutional banks.

The facilities were agreed March 28.

As of March 28, US$1 was equivalent to S$1.31.