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AIMS AMP Capital Industrial REIT Management, which runs AIMS AMP Capital Industrial REIT (AA REIT), announced that Tan Kai Seng has resigned from his post as Non-Executive Lead Independent Director as of last Friday (31 March).
“Kai Seng has served AA REIT with dedication for more than 10 years since its inception. He has lent invaluable knowledge and experience in his area of financial expertise and played an instrumental role as the Chairman of the Audit, Risk and Compliance Committee (ARCC) since February 2010,” said Koh Wee Lih, CEO of the trust manager.
Meanwhile, Norman Ip Ka Cheung has been named as the new ARCC Chairman and Non-Executive Lead Independent Director. He will relinquish his position as Chairman of the Nominating and Remuneration Committee (NRC), a position that will now be filled by the current Non-Executive Independent Director, Eugene Paul Lai Chin Look.
Moreover, AA REIT’s manager has appointed Heng Peter Michael as Non-Executive Independent Director, as well as a member of the NRC and ARCC.
Heng has more than 30 years of investment management experience in leading companies like Straits Lion Asset Management and NTUC Income Insurance Co-operative. He is also a graduate of Bachelor of Science in Economics, with honours from the London School of Economics.
“With his wealth of investment management experience, Peter will add depth and breadth to the Board and help AA REIT continue to deliver on its strategy to achieve sustainable returns for investors,” Koh added.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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