CapitaMalls Malaysia REIT Management appoints new CEO
Kuala Lumpur, 8 October 2014– CapitaMalls Malaysia REIT Management Sdn. Bhd. (“CMRM”), the manager of CapitaMalls Malaysia Trust (“CMMT”), announced today that Ms Low Peck Chen, currently Deputy CEO of CMRM, will be appointed as CEO and Non-Independent Executive Director with effect from 1 November 2014. She will take over from Ms Sharon Lim, who is resigning as CEO and Non-Independent Executive Director of CMRM for personal reasons. Ms Lim will help facilitate the leadership transition until the end of the year.
Mr David Wong Chin Huat, Chairman of CMRM, said: “On behalf of the Board, I would like to thank Sharon for having led CMMT from before its listing to its present leadership position in Malaysia. Today, CMMT is the only ‘pure-play’ shopping mall real estate investment trust in the country with a diversified portfolio in terms of both income and geography, comprising four quality shopping malls in the key urban centres of Penang, Kuala Lumpur, Selangor and Kuantan. She has also nurtured internal talent for succession planning, and we see this today with Peck Chen’s appointment as CEO. The Board of Directors of CMRM would therefore like to record its thanks and appreciation to Sharon for her leadership, and we look forward to working with Peck Chen to grow CMMT further.”
Mr Jason Leow, CEO of CapitaMalls Asia Limited, the sponsor of CMMT and the shopping mall business of CapitaLand Group, said: “I thank Sharon for her valuable contributions to CMMT. She was instrumental in growing our shopping mall business in Malaysia, culminating in the listing of CMMT on Bursa Malaysia in July 2010.”
He added: “With Peck Chen’s extensive experience in the shopping mall business in Malaysia, we are confident that she will lead CMMT in its next phase of growth. This is part of the CapitaLand Group’s focus on succession planning and grooming local talent in the markets we operate in, and reflects our deep management bench strength.”
Ms Low is a Malaysian and joined CapitaMalls Asia in 2008. Prior to her appointment as Deputy CEO of CMRM on 1 October 2014, she was Head of Finance since October 2011. Ms Low has more than 14 years of experience in finance and accounting, and has actively participated in corporate fund raising in the capital and debt markets and successfully brokered numerous financing and refinancing deals. She was also part of the core team that spearheaded the listing of CMMT on the Main Market of Bursa Malaysia Securities Berhad in July 2010.
Ms Low holds a Bachelor of Accounting (First Class Honours) degree from the University of Malaya, Malaysia, and is a member of the Malaysian Institute of Accountants.