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Asia-Pacific real estate moves through April 4


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Asia-Pacific real estate moves through April 4

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.


* Ho Bee Land Ltd. announced the retirement of Jit Koon Ch'ng as a director and member of the audit & risk committee and the remuneration committee. Eng Bock Tan will also step down as a director and as a member of the nominating committee and the remuneration committee.

* Richard Boo Yeong Khoo resigned as a nonexecutive independent director at Amara Holdings Ltd., effective April 1. Khoo also gave up his roles as chairman of the nominating and remuneration committees and as a member of the audit committee. Kwok Ping Chia succeeded Khoo to chair the nominating and remuneration committees.

* CapitaLand Retail China Trust's manager announced the resignation of director and CEO Tee Hieong Tan. Tan stepped down April 1 to take on a key appointment within the CapitaLand Group and subsequently left his position as a member of manager's executive committee. Tse Wooi Tan, who has been the deputy CEO since Dec. 1, 2016, and designated CEO since March 1, was named as Tan's replacement.

* AIMS AMP Capital Industrial REIT's manager said Kai Seng Tan stepped down from his position as a nonexecutive lead independent director, effective March 31. Norman Ka Cheung Ip succeeded Tan and took the chairmanship role at the audit, risk and compliance committee on the same date. Subsequently, Ip gave up his position as chairman of the nominating and remuneration committee, which was handed to Eugene Paul Chin Look Lai.

Additionally, Peter Michael Heng was appointed as a nonexecutive independent director. Heng was also named as a member of the audit, risk and compliance committee, as well as the nominating and remuneration committees.


* Hao Dong Yuan resigned as a nonexecutive director March 31 at Fantasia Holdings Group Co. Ltd. to devote more time to his other businesses. The company appointed Qian Liao as Yuan's replacement.

* Three directors at Yida China Holdings Ltd.'s subsidiaries stepped down March 30, allowing the company to restore its public float in Hong Kong. Yinhuan Sun resigned as an executive director and chairman of the board, while Yinfeng Sun and Hongyu Wen stepped down from their executive director positions. The directors resigned due to the change of controlling shareholders and management following Jiayou (International) Investment Ltd.'s mandatory unconditional takeover cash offer, according to a filing.

* Limin Sun stepped down as an executive director at China Logistics Property Holdings Co. Ltd., effective March 30. The company also announced the appointments of Guolin Wu and Huifang Li as executive directors, Yeyi Wang as a nonexecutive director and Yaomin Chen as an independent nonexecutive director.

In addition, two directors were also redesignated, with Qing Li becoming a nonexecutive director from an executive director, and Runfu Chen assuming an executive director post from a nonexecutive one. All appointments and redesignations have effective dates of March 30.

Hong Kong

* Road King Infrastructure named independent nonexecutive director Raymond Chee On Tse as a member of the audit committee, effective April 1.

* Cheung Kong Property Holdings Ltd. appointed Colin Stevens Russel and Donald Jeffrey Roberts as independent nonexecutive directors and as members of the audit committee, effective March 29.

Russel is an independent nonexecutive director for Cheung Kong Infrastructure Holdings Ltd., while Roberts was the deputy CFO at Hutchison Whampoa Ltd. until his 2011 retirement.


* At SC Asset Corp. PCL, CFO Attapol Sariddipuntawat assumed the position of chief corporate officer, while previous Senior Vice President Pradthana Patsaman replaced Sariddipuntawat as CFO. Vitit Visalpattanasin and Somboon Kuptimanus, senior vice presidents at the company, were named chief accounting officer and chief legal officer, respectively. All executive reappointments have effective dates of April 1.


* Naoya Otani was named as a nonexecutive director at Daiwa Real Estate Asset Management Co. Ltd., Daiwa Office Investment Corp.'s manager, effective April 1. Otani was appointed to replace Akihiko Ohino, who retired March 31.

* Tokyu Real Estate Investment Management Inc., Tokyu REIT Inc.'s manager, proposed the appointments of Tomoki Shinozaki and Hisatsugu Yamada as executive directors and Toshiyuki Takahashi as a nonexecutive director, effective April 1. Shinozaki is the asset manager's chief investment officer, while Yamada is the chief compliance officer and executive secretary to statutory auditors.

Furthermore, Setsu Hamana retired from his position as a nonexecutive director March 31. Meanwhile, Yutaka Toriuchi will serve as the new general manager of asset transaction, replacing Tomohiro Kobayashi, who will resign from the position to return to Tokyu Corporation, also with effect from April 1.

* After a major corporate change in the ownership of Sekisui House SI Residential Investment Corp.'s asset manager, Masaki Katsura resigned as a director at the asset management company, which is now known as Sekisui House Asset Management Ltd.

* Frontier Real Estate Investment Corp.'s board canceled the March 31 election for an alternative executive director following the resignation of Mitsui Fudosan Frontier REIT Management Inc. CEO Hiroshi Tanaka and CFO Akiko Kaito.

* Yoshio Mogi was appointed as a part-time director at Sojitz REIT Advisors K.K., asset manager of Nippon REIT Investment Corp., with an April 1 effective date. Mogi succeeded Yasushi Nishimura who stepped down as a director March 31.

* Premier REIT Advisors Co. Ltd., the manager of Premier Investment Corp., announced the promotion of three directors to executive positions. Tatsuya Takahashi was promoted to director and CFO, while Katsushi Hattori was tapped as chief investment officer. Additionally, Toshiyuki Ishiuchi was promoted as a COO.


* Michael Bradburn stepped down as a nonexecutive, nonindependent director at Viva Energy REIT and its controlled entities, effective March 28, following his resignation as CFO of the REIT's parent, Viva Energy Australia.

Lachlan Pfeiffer was appointed on the same day as Bradburn's replacement in the board.