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Property News

CapitaLand Malaysia REIT Management chairman Lui Chong Chee resigns, to be replaced by Ng Tiong Lip

KUALA LUMPUR (Jan 30): Lui Chong Chee has resigned as chairman and non-executive and independent director of CapitaLand Malaysia REIT Management Sdn Bhd (CMRM), manager of CapitaLand Malaysia Trust (CLMT), with effect from Feb 1.
Lui, 63, tendered his resignation due to other commitments and responsibilities, according to CLMT’s bourse filing on Tuesday.
Lui was appointed director of CMRM in October 2020 and then chairman in June 2021, CLMT’s annual report showed.
According to the filing, Datuk Ng Tiong Lip, 67, will succeed Lui as non-executive chairman. He is currently an independent and non-executive director of CMRM.
Ng is also chairman of the Real Estate and Housing Developers Association (Rehda) Institute. He is also an adviser to the Malaysian REIT Managers Association, a panel member of the Appeals Board under the Federal Territory (Planning) Act 1982 and a member of the board of Studies-Master of Real Estate Development of University Tunku Abdul Rahman.
CLMT units closed half a sen or 0.87% lower at 57 sen, giving the REIT a market capitalisation of RM1.56 billion.
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Source: EdgeProp.my


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