CapitaLand announces new CEO appointments for core markets of Singapore and Vietnam
Singapore, 18 June 2020 – CapitaLand Limited announced today key executive appointments in its core markets of Singapore and Vietnam as part of its on-going leadership development and renewal process. Mr Tan Yew Chin will assume the role of CEO, CapitaLand Singapore from 1 July 2020. Mr Ronald Tay will be appointed CEO, CapitaLand Vietnam from 1 July 2020. Adding to the wide-ranging expertise and experience of its senior executive team, these two new appointments will support the Group’s continued growth in a post-COVID-19 era.
Mr Tan Yew Chin is currently CEO, Business Park & Commercial, CapitaLand Singapore, Malaysia & Indonesia. In his new expanded role, Mr Tan will be responsible for CapitaLand’s retail, residential and workspace (including commercial and business park) businesses in Singapore. He will also be appointed as a member of the CapitaLand Executive Committee. Mr Tan has more than 30 years of experience in the field of real estate management. Prior to joining CapitaLand in July 2019, he was CEO, Singapore & South East Asia, Ascendas-Singbridge (ASB), overseeing investment and development management and asset management in Singapore, Malaysia, Indonesia and Vietnam.
Mr Tan’s oversight of Singapore’s retail, residential and workspace businesses will be supported by Mr Chris Chong and Mr Chew Peet Mun, both who are taking on additional responsibilities from 1 July 2020. Mr Chong, who is leading CapitaLand’s retail business in Singapore as Managing Director, Retail, will also assume oversight of the Group’s retail operations in Malaysia. Mr Chew, currently Managing Director, Commercial, will be appointed Managing Director, Workspace & Residential. Mr Chew will drive the operational performance and business growth of CapitaLand Singapore’s office and business park properties, as well as sales of the current residential projects in Singapore.
Mr Ronald Tay is currently CEO, Residential & Retail, CapitaLand Singapore, Malaysia & Indonesia. Mr Tay takes over from Mr Chen Lian Pang, who will be retiring from CapitaLand. In his new role, Mr Tay will focus on growing the overall business in Vietnam, including identifying investment and development opportunities. Mr Tay has been with CapitaLand since 2001 and has an all-rounded understanding of the Group’s business, from capital market, development, investment to asset management. Before his current role, Mr Tay was CEO, Ascott Residence Trust Management Limited. Mr Tay will continue to oversee ongoing development projects in Malaysia and Indonesia.
Mr Lee Chee Koon, Group CEO, CapitaLand Group, said: “Today’s dynamic and competitive business environment demands organisations to renew themselves and become forward-looking and motivated enterprises proficient in sustaining success. Like any other strategic investments undertaken by CapitaLand, the Group’s commitment to leadership renewal is fully embedded into our business strategy. CapitaLand’s merger with ASB last July brought about further deepening of the Group’s management bench strength.”
"This continuous investment in leadership development is key to achieving transformative growth for CapitaLand in an ever-changing world of business. Across the different markets, CapitaLand leaders are gearing up to adapt to a new normal for real estate post-COVID-19."
In addition to Mr Tan Yew Chin heading up CapitaLand Singapore, several former ASB leaders are currently helming key management roles in CapitaLand Group and other core markets of China and India. For example, Ms He Jihong, who is a member of CapitaLand Executive Committee, is CEO, Data Centre, in addition to her role as Chief Corporate Strategy Officer, CapitaLand Group; Mr Charles Chan is CEO, Commercial Management & Business Park, CapitaLand China; and Mr Vinamra Srivastava is CEO, Business Parks, CapitaLand India.
Mr Lee added: “On behalf of the Group, I would like to thank Lian Pang, who will be retiring from CapitaLand next month. Lian Pang has contributed to the organisation in various capacities throughout his close to 24 years of service, most notably for growing Vietnam into one of the Group’s four core markets, alongside Singapore, China and India. We wish him all the best.”
CapitaLand is the leading real estate developer, owner and manager in Singapore. Its Singapore portfolio comprises more than 14,500 homes, 20 operational malls, 17 commercial and integrated developments, and more than 100 business park, industrial and logistics properties.
CapitaLand has been operating in Vietnam for more than 25 years. The Group’s portfolio in Vietnam comprises two integrated developments, close to 8,600 quality homes across 15 residential developments, two retail malls and one business park.
The growth of CapitaLand’s lodging portfolios in Singapore and Vietnam will continue to be driven by CapitaLand’s lodging business unit, The Ascott Limited (Ascott). In Singapore, Ascott has more than 3,400 lodging units across 19 properties. In Vietnam, it has close to 7,000 lodging units in 27 properties.
Please refer to the link at https://www.capitaland.com/management for profiles of CapitaLand Executive Committee members.