Lui Chong Chee has been appointed Chairman at CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd. in Singapore
CapitaLand Ascott Trust (CLAS) has announced that Mr Bob Tan will retire as the Chairman of CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd. (the Managers of CLAS). Mr Lui Chong Chee, a Non-Executive Independent Director, will succeed Mr Bob Tan on 22 April 2024 as part of CLAS' Board renewal process.
Mr Bob Tan has served as Chairman of the Managers of CLAS since 2016 and Chairman of the Nominating and Remuneration Committee since its establishment in 2021. He will retire from the Boards of CLAS after the upcoming Annual General Meeting in April 2024[1]. Under Mr Tan's leadership, CLAS consolidated its position as the largest lodging trust in Asia Pacific, following its combination with Ascendas Hospitality Trust in 2019[2]. The combination widened CLAS' investor base, giving it the financial flexibility to seek accretive acquisitions and enhance returns to Stapled Securityholders. Mr Tan led CLAS through the challenges of the COVID-19 pandemic, strengthening CLAS' stable income stream to boost its resilience. He also oversaw CLAS' entry into the student accommodation sector and the execution of CLAS' active portfolio reconstitution strategy to create sustainable value for Stapled Securityholders.
Mr Lui was previously the Managing Director and Chief Executive Officer of Far East Orchard Limited from 2014 to 2019. He was also the Group Chief Financial Officer of Raffles Medical Group Limited from 2011 to 2014.
Additionally, Mr Lui has held various senior management positions in the CapitaLand Group from 2001 to 2010, including Group Chief Financial Officer of CapitaLand Limited; Chief Executive Officer of CapitaLand Residential Limited; and Chief Executive Officer of CapitaLand Financial Limited. He also served as a Director on the Boards of various listed entities within the CapitaLand Group. Most recently, he was the Chairman of CapitaLand Malaysia REIT Management Sdn. Bhd., the Manager of CapitaLand Malaysia Trust from 1 June 2021 to 31 January 2024.
Mr Lui holds a Bachelor of Science in Business Administration and a Master of Business Administration from New York University in the United States of America (USA). He has also completed an Advanced Management Program at Harvard Business School in the USA.
