Complete Property Market Updates of Singapore

April 30, 2008

Lew Syn Pau retires from Ascendas post

Filed under: 1 — Propertymarketupdates @ 3:44 am

LEW Syn Pau has retired from his post as director and non-executive chairman of Ascendas Funds Management (S) Ltd (AFM). AFM is the manager of Ascendas Real Estate Investment Trust (A-Reit).

In a statement released yesterday, AFM said Mr Lew’s retirement is part of the board reorganisation process.

Taking over the chairmanship yesterday is AFM independent director David Wong Cheong Fook, whose position as AFM’s audit committee chairman is now taken over by audit committee member Benedict Kwek. Mr Wong was group MD of Wearnes Technology until April 2003.

The board of directors of AFM said it wished to put on record its gratitude to Mr Lew for his ’sterling leadership, dedication, contribution and support over the last six years’.

Mr Wong added: ‘Moving forward, the board, together with the AFM team, will continue to build on the strong performance of A-Reit to propel it to greater heights.’

AFM also announced the appointments of three new directors yesterday: Joseph Chen Seow Chan, Chia Kim Huat, and Tan Ser Ping.

Mr Tan, who is CEO of AFM, is appointed executive director. He has been with the Ascendas Group since 2001 and with AFM for more than four years.

Both Mr Chen and Mr Chia are non-executive directors and are appointed members of the AFM’s audit committee.

Mr Chen was a managing director of global treasury at UOB before retiring in 2005 after 17 years with the bank.

Mr Chia is a partner with Rajah & Tann LLP.

Source : Business Times – 23 Apr 2008

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