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Real Estate moves through Oct. 10


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Real Estate moves through Oct. 10

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.


* Shareholders and takeover bidders 360 Capital Group and NEXTDC Ltd. have respectively submitted their board nominees for Asia Pacific Data Centre, or APDC. Candidates who are subject to APDC shareholders' approval are NEXTDC executive director and CEO Craig Scroggie and nonexecutive director Stuart Davis, while 360 Capital slipped in the names of Managing Director Tony Pitt and Chairman and Independent Director David van Aanholt.

The move comes following the unanimous approval of APDC's board on 360 Capital's revised per-security offer of A$1.95.


* Rahah Binti Ismail was named to Al-Salam REIT's board as an independent nonexecutive director, with effect from Oct. 5, replacing Mani Usilappan, who resigned on the same day over personal reasons.

* Betty Sui Hing Lau stepped down from her position Oct. 2 as IOI Properties Group Bhd.'s CFO. Michelle Yan Chao Shen, the company's financial controller, was appointed to take over Lau's role, effective Oct. 3.

* Tropicana Corp. Bhd. executive director and CEO Yau Kok Seng will resign from his positions, effective Nov. 30. Yau, who also held senior management and directorate roles at Hong Leong Industries Bhd. and Sunway Bhd., cited his health as the reason for his planned departure.

Hong Kong

* Mable Chan was named as MTR Corp. Ltd.'s commissioner for transport, while Raymond So Wai-man was appointed undersecretary for transport and housing. Chan, who will assume the role Oct. 11, will hold concurrent positions as nonexecutive director and as a member of the audit and risk committees.

Meanwhile, So also became an alternate director to the secretary for the transport and housing office, pursuant to his recent under secretary appointment, which he took up Sept. 25.