CapitaLand today announced changes to its organisational structure to exploit the growth potential of its businesses in Singapore and internationally, and to create greater depth and breadth in the management bench strength at the operational level.

Under the new structure, CapitaLand will separate its present Commercial business into two distinct businesses namely CapitaLand Retail (CRTL), which covers the integrated retail property business, and CapitaLand Commercial and Integrated Development (CCID) which covers office, industrial and mixed development. A further change is to appoint the current Deputy CEOs of Commercial, Financial and Residential to be business unit CEOs, responsible for the performance and development of future potential of their respective businesses.

The CEO for the newly created CapitaLand Retail (CRTL) will be Pua Seck Guan, who will also continue as CEO of CapitaMall Trust Management Ltd (CMTML). Martin Tan will be CEO of the newly created CapitaLand Commercial and Integrated Development (CCID) and also the CEO of CapitaCommercial Trust Management Ltd (CCTML).

For CapitaLand Financial, Wen Khai Meng will be the CEO of CapitaLand Financial (Financial Services). For the property fund management business under CapitaLand Financial, Pua Seck Guan will be the CEO of CapitaLand Financial (Real Estate Capital Management - Retail), and Martin Tan the CEO of CapitaLand Financial (Real Estate Capital Management - Commercial and Integrated Development).

For the CapitaLand Residential businesses, Patricia Chia will be the CEO of CapitaLand Residential Singapore (CRS); Soong Hee Sang will be the CEO of CapitaLand Residential (New Markets), for investments in new markets and at the same time, oversee Residential's corporate and financial matters. Brendan Crotty is CEO, Australand Property Group (APG), while Lim Ming Yan is CEO, CapitaLand China Holdings (CCH), spearheading our growing China business.

Olivier Lim, currently Senior Vice President, Corporate Finance of CapitaLand Limited, will be Deputy Group CFO reporting to Lui Chong Chee, the Group's Chief Financial Officer.

Dr Richard Hu, Chairman, CapitaLand Group said, "With the Group effectively delivering on its strategies, I am glad that the top management is augmenting its management talent pool to continue to seek and seize opportunities at home and overseas. The company is at a strategic inflection point where, after the last four years, new business areas such as the retail sector and the REIT markets have demonstrated strong growth potential in the Asia-Pacific.

Mr Liew Mun Leong, President and CEO, CapitaLand Group said, “The objective of the re-organisation is to ensure that the Group is giving greater management focus to high growth areas such as the retail and commercial businesses. It is also to recognise the contributions of high potential management staff, give them greater responsibilities to manage profit centres, and increase their visibility through these appointments. This is an important part of our talent development programme.

“The change made to the commercial business area is significant as the retail and commercial, mainly office, areas have their own business dynamics, customers and competencies.We need to be specialists to compete in these fast growing markets. Since the merger in 2000, the retail sector has grown significantly. Today, we are the largest mall operator in Singapore , and within the Group, this business area is as large as some of the other businesses. It is imperative to provide the necessary management focus and resources to capitalise on the potential of these sectors to grow into world class players”.

At the Group level, Kee Teck Koon is the CEO for CapitaLand Financial and will also oversee CapitaLand Retail and CapitaLand Commercial and Integrated Development; Tham Kui Seng is CEO, CapitaLand Residential; Jennie Chua is CEO, Raffles Holdings Ltd; Cameron Ong is CEO, The Ascott Group; and Anthony Seah is CEO, PREMAS International.

CapitaLand is one of the largest listed property companies in Asia . Headquartered in Singapore , the multinational company's core businesses in property, hospitality, property services and real estate financial services are focused in gateway cities in Asia, Australia , Europe and the Americas .

The company's property and hospitality portfolio spans more than 70 cities around the world. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop fee-based products and services in Singapore and the region.

The listed subsidiaries and associates of CapitaLand include Raffles Holdings, The Ascott Group, CapitaMall Trust, CapitaCommercial Trust and Australand Property Group, which is listed both in Singapore and Australia .

For more information, please contact: Basskaran Nair Corporate Communications CapitaLand Limited Tel: (65) 68233 554 Email: basskaran.nair@capitaland.com.sg