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Real Estate News & Analysis: May Edition


Swire director joins MTR; Vietnam's De Tam brings in new chairman

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.

Hong Kong

* C C Land Holdings Ltd. said Tsang Wai Choi retired as deputy chairman, effective May 21. Tsang also relinquished his roles as executive director and executive committee member.

* Wang Yeyi retired as Sino-Ocean Group Holding Ltd. executive director, with effect from May 18, to focus on his other business commitments. Fu Fei, on the other hand, was appointed nonexecutive director, effective May 19.

* CAQ Holdings Ltd. said Richard Soo Tuck Yoon stepped down as a director May 17.

* Effective May 16, MTR Corp. Ltd. named Rose Lee Wai-mun independent nonexecutive director, the same position she holds at CK Hutchison Holdings Ltd. and Swire Pacific Ltd. Lee was also named to be a member of audit and risk committees.

In addition, Alasdair George Morrison retired on the same date, and also relinquished his chairmanship and membership roles in the risk and audit committees, respectively, with Andrew Brandler assuming the chairmanship in the risk committee.

India

* S.B. Mainak and Arun Karambelkar were appointed as additional independent directors at Capacit'e Infraprojects Ltd. Mainak assumed the post in March and Karambelkar on May 18.

* MVL Ltd. recently approved the appointment of Deepak Gupta as a whole-time company director, effective Feb. 7, also the date when the executive was named as additional director and CFO. Gupta also serves as a member of the audit committee.

* Stuti Thukral began serving as company secretary and compliance officer of Swadeshi Polytex Ltd. on May 15.

Philippines

* IRC Properties Inc. named Antonio Tiu CEO and president, replacing outgoing CEO Esteban Sy and President Georgina Monsod, with Monsod set to become executive vice president and COO.

Tiu was also appointed as a director, together with Yuan Gang and Richard Amurao, and the trio are replacing directors Kuo Hao, Roberto San Jose and Steven Virata. Marie See was also appointed to the board as an independent director, succeeding Rodrigo Supeña.

Japan

* Kenedix Retail REIT Corp. unit holders will vote at the company's June 15 general meeting for the appointment of Akiko Yamakawa as supervisory director, effective July 1, in place of Mai Ishiwatari, whose term will expire June 30. The appointments of Koichiro Nobata as alternate executive director and Satoshi Hiyama as alternate supervisory director will also be voted on at the meeting.

* Tatsuya Takahashi will replace Takahiro Okuda on June 23 as executive director of Premier Investment Corp., as the latter will step down June 22. On top of his directorship role, Takahashi will also take on the roles of director and CFO of the finance department.

Vietnam

* Tra Thanh Tra resigned May 4 as deputy CEO and CFO of Khang Dien House Trading and Investment JSC, with Bui Ba Nghiep taking over as deputy CEO from May 14.

* Tran Duc Loi was appointed as the new chairman of De Tam JSC, with a term that will run until 2023.

Singapore

* Lu Rui Feng was named group vice president of Yanlord Land Group Ltd., effective May 18.

* Asia-Pacific Strategic Investments Ltd. named Lien Kait Long as independent nonexecutive director, with effect from May 16.

Australia

* Devine Ltd. named John Campbell CEO and executive director, effective July 9 ahead Andrew Cooper's departure in early July.

* Stockland said May 18 that Melinda Conrad joined its board. Conrad also serves as a director at ASX Ltd., Caltex Australia Ltd. and OFX Group Ltd.

* Tina Mitas was named company secretary of Viva Energy REIT, effective May 15, following the resignations of Mark Licciardo and Kate Goland as joint company secretaries.

Malaysia

* Ho Pui Hold joined Multi-Usage Holdings Bhd.'s board May 17 as an independent nonexecutive director.

* Tew Kim Thin was redesignated to Pasdec Holdings Bhd. executive director from nonexecutive director, effective May 16.

* Mohamed Bin Ismail, an independent nonexecutive director of MKH Bhd., died May 14. Ismail served as chairman of the remuneration committee and was a member of the audit and nomination committees.

China

* Xinyuan Real Estate Co. Ltd. said May 15 that Huai Chen and Steve Sun are stepping down as board directors. Samuel Shen and Hao Gao, meanwhile, were appointed as independent directors.

* Amata VN PCL's board of directors resolved at a May 14 meeting the appointments of Oranuch Apisaksirikul as audit committee chairman, replacing Ajarie Visessiri, and Kitti Tangjitrmaneesakda as member of the audit committee, succeeding Le Cong Phung, with the appointments becoming effective the same day.