CapitaLand announces new CEO appointment for its core market of Vietnam
Vietnam, 22 June 2020 - CapitaLand Limited announced a new CEO appointment in its core market of Vietnam as part of its on-going leadership development and renewal process. 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, the new appointment will support the Group’s continued growth in a post-COVID-19 era.
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.
“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 Ascendas-Singbridge 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.”
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 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 Vietnam will continue to be driven by CapitaLand’s lodging business unit, The Ascott Limited (Ascott). In Vietnam, Ascott 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.
About CapitaLand Vietnam (www.capitaland.com/vn)
CapitaLand Vietnam is a business unit of CapitaLand, one of Asia’s largest diversified real estate groups.
After 25 years of operation in Vietnam, CapitaLand’s portfolio in Vietnam comprises two integrated developments, close to 8,600 quality homes across 15 residential developments, two retail malls, one business park as well as close to 7,000 lodging units in 27 properties across 10 cities - Ho Chi Minh City, Hanoi, Hai Phong, Halong, Hoi An, Danang, Binh Duong, Cam Ranh, Nha Trang and Vung Tau.
In line with CapitaLand’s credo ‘Building People. Building Communities.’, the Group is committed to contribute to the Vietnamese economy by seeking opportunities to expand its presence in the country. CapitaLand will also continue to hire and nurture a strong local team, exchange knowledge and skills with local partners, and contribute to the local communities’ underprivileged children and environment through corporate social responsibility efforts. CapitaLand has also built four CapitaLand Hope Schools for underprivileged children in Phu Tho, Long An and Hung Yen Provinces.