SINGAPORE – Cambridge Industrial Trust Management Limited (CITM) has named Singaporean Adrian Chui as its CEO and Executive Director effective 24 March.
CITM (SGX:J9IU), the manager of Cambridge Industrial Trust (CIT), made the announcement in a disclosure to the Singapore Exchange today. It added that Shane Hagan will now resume his original role as Chief Operating Officer and Chief Financial Officer of the company.
Chui joins CITM from Standard Chartered Bank, where he most recently ran both the Southeast Asia real estate advisory and the Singapore corporate banking divisions.
In his new role at CITM, Chui reports to the board and is responsible for achieving CIT’s fiduciary duties to unitholders as well as managing major stakeholder relationships.
“His key responsibilities include setting the strategic objectives for CIT alongside the board as well as driving the overall business plan execution with the support of the management team,” CITM disclosed.
Chui said he is privileged to join CIT’s manager and looks forward to the next exciting stage of development with the support of the company’s sponsors.
“CIT is one of Singapore’s pioneer REITs and it has built a strong brand name that is widely respected and recognised,” Chui said.
CITM Chairman Ooi Eng Peng welcomed Chui, saying the appointment comes at a time that the company is embarking on a new growth path for CIT.
CIT, publicly listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, is Singapore’s first independent industrial real estate investment trust.
It invests in quality income-producing industrial properties and has a diversified portfolio of 49 properties located across Singapore, with a total gross floor area of approximately 8.4 million sq ft and a property value of S$1.35 billion as at 31 December 2016. – BusinessNewsAsia.com