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Real Estate News & Analysis: May Edition


CK Asset, CK Hutchison get new chairman; Robinsons Land COO takes CEO post

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.

Malaysia

* SP Setia Bhd. said Zuraidah Binti Atan was appointed as a member of the audit committee following the resignation of Azmi Bin Mohd Ali from the role, effective May 15.

* Tanco Holdings Bhd. nonindependent, nonexecutive director and adviser Tan Jing Nam passed away May 1.

Hong Kong

* CAQ Holdings Ltd. appointed Mark Maine as the new company secretary, effective May 14, following the resignation of KC Ong, who held the post for the interim when Deborah Ho stepped down.

* Leung Yim Yu resigned as company secretary of China Overseas Property Holdings Ltd., with Sin Lai Lan appointed as replacement, effective May 12.

* Shanghai Industrial Development Co. Ltd. said Ji Gang will retire as chairman, president and executive director at the conclusion of the company's May 23 annual general meeting. Executive director Yang Jianwei will also retire at the same meeting.

* Li Ka-shing officially retired from his business empire May 10. Victor Li Tzar Kuoi took on the chairmanship at CK Asset Holdings Ltd. and CK Hutchison Holdings Ltd., and was also installed as a member of the remuneration committees of the two companies, in addition to his respective positions of managing and group co-managing directorship roles in CK Asset and CK Hutchison.

* Executive director Seto Man Fai left New City Development Group Ltd. May 10 to focus on his other business ventures.

* Christina Ong took over the role of nonexecutive director May 9 at Hongkong Land Holdings Ltd., following the departure of Richard Lee.

* Mandarin Oriental International Ltd. said Richard Lee and Charles Powell resigned from the board May 9, while Jack Chen was appointed as nonexecutive director.

* China Minsheng Drawin Technology Group Ltd. Vice President Yang Hongwei took on the role of CEO May 8, after CEO/Chairman Yin Jun relinquished the post to comply with a Hong Kong stock exchange rule. On top of the chairmanship role, Yin will continue to serve as executive director and chairman of the nomination committee.

The developer also said Chen Donghui, Gan Ping and Zhao Xiaodong resigned as nonexecutive directors because of other business commitments.

Philippines

* Robinsons Land Corp. COO Frederick Go was named as the new CEO of the company, effective May 11. The executive remains as president of the diversified real estate developer, while former CEO Lance Gokongwei was installed as chairman of the board. Gokongwei replaced James Go, who was named chairman emeritus.

* Christopher Narciso joined Arthaland Corp. May 9 as executive vice president. The property developer also said Edgar Sabidong was promoted to vice president from senior assistant vice president, while Clarence Borromeo was named data privacy officer, in addition to his role as head of the information technology department.

Thailand

* The board of Amata VN PCL approved the appointment of Apichart Chinwanno as chairman, effective May 14.

* Apichart Kasemkulsiri was named as the new CFO of L.P.N. Development PCL, with effect from May 10. Oranuch Apisaksirikul, Kitti Tangjitrmaneesakda and Aukkares Choochouy were also added to the board.

Australia

* Asia Pacific Data Centre named Vishant Narayan as its new CEO, with effect from May 14. The data center operator also said nonexecutive director Tony Pitt resigned from his post due to his increased business commitments.

China

* Sunshine 100 China Holdings Ltd. executive director and Chairman Yi Xiaodi replaced Lin Shaozhou as CEO of the company May 11. Lin decided to leave the company to pursue his alternative personal career plans.

* Fung Wai Sum took on the role of company secretary at Greenland Hong Kong Holdings Ltd. May 11, replacing Lee Mei Yi, who resigned from the role on the same date.

* Zhang Long resigned as executive director of China Logistics Property Holdings Co. Ltd. to pursue other career and business opportunities, effective May 11. Fu Bing, on the other hand, was appointed as nonexecutive director, expected to be effective the same day.

Singapore

* Kang Leng Hui was named the new CFO of Keppel REIT's manager, effective June 9, replacing Kelvin Chow Chung Yip.

* Choh Thian Chee Irving was named to the board of Goodland Group Ltd. as independent director and as a member of the nominating, remuneration and audit committees, effective May 10. Alvin Tan Chee Tiong also became a member of the nominating committee on the same date.

* Centurion Corp. Ltd. appointed Teo Peng Kwang and Tan Poh Hong as executive and independent nonexecutive directors, with effect from May 8. Tan also joined the nominating and remuneration committees, while Chandra Mohan and Gn Hiang Meng resigned from the respective committees.

Japan

* Daikyo Inc. said Katsutoshi Kadowaki and Akira Yamaguchi resigned as chairman and president of the company, respectively, effective June 22. Kazuo Kojima, meanwhile, was named to take on the roles of director, president and representative executive officer of the company.

* Keiji Tsukahara, senior managing director of AEON REIT Investment Corp., and Nobuaki Kobayashi, part-time corporate auditor of the company, are stepping down May 23. Tadao Minamidate will replace Kobayashi, while Nobuaki Seki will be installed as a new director.

India

* Shivangi Gor joined the board of Tirupati Sarjan Ltd. as additional nonexecutive and independent director, effective May 9. The real estate developer also said director Bijal Parikh and company secretary and compliance officer Vijay Thakkar resigned from their positions.

* Krishna Deshika resigned as Hotel Leelaventure Ltd. CFO and key managerial personnel, effective May 9, with Rajan Shah named as replacement. Additionally, Vijay Sharma was appointed as independent director.

* Oswal Greentech Ltd. named Anand Agarwal as additional director, effective April 25. The developer added Vipan Kaushal stepped down as a director, effective April 14.

* Samruddhi Realty Ltd. director Madhusudhan Navaneetham resigned May 7.

Vietnam

* Tran Bao Toan's resignation from Thuduc Housing Development Corp.'s board and Le Minh Tam appointment as board member were approved at the April 24 general meeting of the company.