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SPH REIT appoints Ng Yat Chung as Director

SINGAPORE, 31 July 2017 – SPH REIT Management Pte.Ltd. (“SPHRM”) has appointed Mr Ng Yat Chung (伍逸松) as a non-independent non-executive director to its Board with effect from 1 August 2017. Mr Ng will also be a member of the Nominating and Remuneration Committee.

Mr Ng, 55, will replace Mr Alan Chan Heng Loon, 64, who is retiring from the board on the same day. The other directors are Dr Leong Horn Kee, Chairman, Mr Soon Tit Koon, Mr David Chia and Ms Rachel Eng, all of whom are independent directors, Mr Anthony Mallek and Ms Ginney Lim who are both non-independent non-executive directors.

 

Mr Ng is also the Executive Director of Singapore Press Holdings Limited (“SPH”) and will succeed Mr Chan as SPH’s CEO from 1 September 2017.

 

Mr Ng was Special Advisor of Neptune Orient Lines Ltd (NOL) from 9 June 2016 to 26 May 2017.  Prior to that, he was NOL’s Group President & CEO from 1 October 2011.   He also held several assignments with Temasek Holdings between 2007 and 2011. He was with the Singapore Armed Forces since 1980 and rose to the position of the Chief of Defence Force from July 2003 to April 2007.  

 

Mr Ng said: “SPH REIT has a good track record, with our properties enjoying full occupancy and strong partnership with our tenants.  We are well positioned to continue delivering a trusted and successful brand in Singapore.”

Dr Leong Horn Kee, Chairman of the SPHRM Board, said: "On behalf of the board, I would like to welcome Yat Chung, who will be a valuable asset to the team given his experience and expertise. I would also like to thank Alan for his advice and contributions since the IPO of SPH REIT. I wish him well for his future endeavours.”

 

 

 

Issued by SPH REIT Management Pte Ltd
Co. Regn. No. 201305497E

 

For more information, please contact:

 

Chin Soo Fang

Head

Corporate Communications & CSR

Singapore Press Holdings

Tel: +65 6319 1216

Email: soofang@sph.com.sg

 

Vanni Cheong

Assistant Manager

Corporate Communications & CSR

Singapore Press Holdings

Tel: +65 6319 1553

Email: cvanni@sph.com.sg

 

 

ABOUT SPH REIT

 

SPH REIT is a Singapore-based real estate investment trust established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Pacific, as well as real estate-related assets.

 

Its portfolio of properties comprises a 99-year leasehold interest in Paragon commencing on 24 July 2013 and a 99-year leasehold interest in The Clementi Mall commencing on 31 August 2010. Valued at S$3.23 billion with an aggregate net lettable area of approximately 907,000 sq ft, the properties have a committed occupancy of 100% and have a diverse and high quality tenant base of about 460 local and international retailers and medical specialists.

 

Visit SPH REIT’s website at www.sphreit.com.sg for more details.

 

ABOUT THE REIT MANAGER: SPH REIT MANAGEMENT PTE. LTD.

 

SPH REIT is managed by SPH REIT Management Pte. Ltd., a wholly-owned subsidiary of Singapore Press Holdings Limited. The Manager’s key objective for SPH REIT is to provide Unitholders with regular and stable distributions, and sustainable long-term growth in DPU and NAV per Unit, while maintaining an appropriate capital structure.

 

ABOUT THE SPONSOR: SINGAPORE PRESS HOLDINGS

 

Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms, ranging from print, digital, radio and out-of-home media.

 

SPH owns award-winning newspapers, magazines and best-selling books in both print and digital editions, as well as online classified businesses in the region. In addition, SPH has two English radio stations and one Chinese radio station, an out-of-home digital advertising unit, a regional events and conferences arm, and runs a chain of modern retail convenience stores. SPH also has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today.

 

SPH REIT comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road and The Clementi Mall, a mid-market suburban mall. SPH's latest retail development is The Seletar Mall located in Sengkang.

 

SPH is in the healthcare sector, operating private nursing homes under Orange Valley.

 

For more information, please visit www.sph.com.sg.