Edition:
India

City Developments Ltd (CTDM.SI)

CTDM.SI on Stock Exchange of Singapore

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18 Sep 2019
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Summary

Name Age Since Current Position

Leng Beng Kwek

78 1995 Executive Chairman of the Board

Eik Tse Kwek

43 2019 Group Chief Executive Officer, Executive Director

Yim Ming Yiong

2016 Group Chief Financial Officer

Yvonne Ong

2018 Chief Executive Officer, Commercial

Steven Tan

2016 Chief Human Resource Officer

Mei Ling Lee

2018 Executive Vice President, Head, Property Development

Ivan Ng

Chief Technology Officer

Shao Hong Frank Khoo

49 2018 Group Chief Investment Officer

Ngiang Hong Chia

Group General Manager

Esther An

2015 Chief Sustainability Officer

Eik Sheng Kwek

2016 Chief Strategy Officer, Head - Asset Management

Mark Yip

2017 Chief Revenue Officer, Chief Executive Officer, CDL China Limited

Peek Fong Ling

Company Secretary

Loh Shufen

Company Secretary

Yin Nee Lim

65 2018 Lead Independent Director

Leng Peck Kwek

62 1987 Non-Executive Non-Independent Director

Thiam Hock Koh

68 2016 Independent Non-ExecutiveDirector

Poay Seng Tan

52 2012 Independent Non-Executive Director

Yee Peng Tan

45 2014 Independent Non-Executive Director

Liat Kok Yeo

71 2009 Independent Non-Executive Director

Belinda Lee

Vice President, Head - Corporate Communications

Biographies

Name Description

Leng Beng Kwek

Mr. Kwek Leng Beng is Executive Chairman of the Board of the Company. He is the non-executive Chairman of Millennium & Copthorne Hotels plc (M&C), the Chairman and Managing Director of Hong Leong Finance Limited (HLF) and the Executive Chairman of Hong Leong Investment Holdings Pte. Ltd. (HLIH), the immediate and ultimate holding company of CDL. HLF and M&C are subsidiaries of HLIH and thus, are related companies under the Hong Leong Group of companies. In the preceding three-year period, Mr Kwek was the Chairman and Managing Director of City e-Solutions Limited (CES) until he stepped down in September 2016 after CES ceased to be a subsidiary of CDL. He was also nonexecutive Chairman and Director of Hong Leong Asia Ltd. (HLA) until his retirement from the board in April 2017. Mr Kwek holds a law degree, LL.B. (London) and is also a fellow of The Institute of Chartered Secretaries and Administrators. He has extensive experience in the finance business, having grown from day one with the original Hong Leong Finance Limited which has since merged its finance business with Singapore Finance Limited (now known as HLF). He also has vast experience in the real estate business, the hotel industry, as well as the trading and manufacturing business. Mr Kwek’s other appointments include being a member of the East Asia Council of INSEAD since its inception in 2003, a board member of the Singapore Hotel Association and a Fellow of the Singapore Institute of Directors. He was also conferred an Honorary Doctorate of Business Administration in Hospitality from Johnson & Wales University (Rhode Island, US) and an Honorary Doctorate from Oxford Brookes University (UK).

Eik Tse Kwek

Mr. Kwek Eik Tse is Group Chief Executive Officer, Executive Director of the Company. Mr Sherman Kwek assumed his current role as CDL’s Group Chief Executive Officer (CEO) in January 2018. Since April 2016, he has also held the position of Executive Chairman of CDL China. He was previously the Deputy CEO and Chief Investment Officer of CDL. He has been spearheading the Group’s expansion in China, Japan and Australia for almost a decade and in recent years has also broadened the Group’s presence in Singapore and the UK. Throughout his career, Mr Kwek has held various senior management roles including serving as the CEO of Hong Kong-listed City e-Solutions Limited and SHERMAN KWEK GROUP CHIEF EXECUTIVE OFFICER the Chief Operating Officer of Singaporelisted Thakral Corporation Ltd. He also worked at RECAP Investments Limited, a real estate private equity fund. He started his career in New York in venture capital and investment banking before eventually joining the US division of Millennium & Copthorne Hotels plc. He has experience in the areas of investments, mergers and acquisitions, real estate, hospitality and technology, and has worked in New York, Hong Kong, Shanghai and Singapore. Mr Kwek is currently a Council Member of the Singapore Chinese Chamber of Commerce and Industry (SCCCI), and is also a member of the Council for Board Diversity, formerly known as the Diversity Action Committee initiated by the Singapore Exchange Limited, to promote greater gender diversity on the boards of listed companies.

Yim Ming Yiong

Ms. Yiong Yim Ming serves as Group Chief Financial Officer of the Company. Ms Yiong Yim Ming was appointed CDL’s Chief Financial Officer in April 2016 and was re-designated to Group Chief Financial Officer on 1 February 2018. An executive of the Company since 2007, she has extensive knowledge on CDL Group’s financial and operation matters, both domestically and overseas, covering the Group’s operations in property development, investment properties and hotels. Ms Yiong has strong technical competencies, specialising in the real estate sector, harnessed through 12 years of audit experience. Prior to joining CDL, she served a 10-year stint in KPMG Singapore and a two year engagement with Ernst & Young Singapore. Ms Yiong holds a Bachelor of Accountancy degree from Nanyang Technological University. She is a Council Member of the Institute of Singapore Chartered Accountants and is also a Member of the Board of Trustees for the Singapore University of Social Sciences.

Yvonne Ong

Ms. Yvonne Ong is Chief Executive Officer, Commercial of the company. Ms. Yvonne Ong joined CDL in June 2018 to head CDL’s Asset Management Division, which comprises the Leasing, Property & Facilities Management and Customer Service departments involved in the management of CDL’s Investment Properties. Ms Ong will lead the Division in spearheading asset management strategies to drive the performance of CDL’s global portfolio of office, retail, industrial and residential leased assets. With over 20 years of experience in the real estate industry, Ms Ong has held various leadership roles in investment and asset management. Prior to joining CDL, she was the Head of Global Asset Management, Commercial in CapitaLand Limited, and was previously the Head of Real Estate at Cambridge Industrial Trust Management Limited, the Manager of Cambridge Industrial Trust (now ESR-REIT), where she was responsible for investment and asset management strategies and overseeing their property management team. Ms Ong is a CFA charterholder and a Member of CFA Singapore. She has also been a Member of the Singapore Institute of Surveyors and Valuers since 1997 and has an Appraiser's Licence (Lands and Buildings) since 1996. She holds a Master of Science in Applied Finance from the Singapore Management University and Bachelor of Science (Estate Management) (Honours) from the National University of Singapore.

Steven Tan

Mr. Steven Tan is Chief Human Resource Officer of the Company. Mr Steven Tan joined CDL as Chief Human Resource Officer in July 2016. He has more than 20 years of human resource experience across the real estate, financial services, energy and semi-conductor industries. Prior to joining CDL, he was the Vice President of Human Resource in CapitaLand and OCBC Bank. He had been credited for driving and implementing the full Human Resource Information System (HRIS) suite and shared services business model resulting in improving productivity. He had also put in place the necessary manpower, compensation and benefits scheme, policies and procedures to support the company’s rapid expansion plans. He holds a Bachelor of Science in Physics from National University of Singapore and a Master of Science in Human Resource Management from University of Bradford, UK.

Mei Ling Lee

Ms. Lee Mei Ling is Executive Vice President, Head, Property Development of the company. Ms Lee Mei Ling was appointed as Head of Property Development in June 2018, to lead the Property Development Division, which consolidates all departments involved in the development of CDL’s Singapore properties. Comprising the Projects, Sales & Marketing, Customer Service and Property & Facilities Management units, the Division is responsible for the entire life-span of a development project, from advising on land tenders to innovating project design, managing the construction phase, and providing after-sales service. An executive of the Company since 2004, Ms Lee was previously the Head of Sales & Marketing, where she was responsible for conceptualising and implementing the marketing and sales strategies for CDL’s residential projects. Prior to joining CDL, Ms Lee was with First Capital Corporation Ltd (now known as GuocoLand Limited) for 10 years, leading their marketing and sales department. She holds a Bachelor of Science (Estate Management) (Honours) from the National University of Singapore.

Ivan Ng

Mr. Ivan Ng is Chief Technology Officer of the Company. Mr Ivan Ng joined CDL as Chief Technology Officer in 2016, with overall responsibility for CDL’s Technology Strategy and Operations. He has over 20 years of experience in the IT industry with a track record in consulting, business and IT management. Prior to joining CDL, Mr Ng has held senior leadership roles in technology multi-nationals such as HP, Dell and ServiceNow, where he led their IT solutions and services business. He was Chief Information Officer of Pactera (previously HiSoft International), a global IT Services Leader listed on NASDAQ, where he managed their IT, Quality and Security operations worldwide. He has gained a deep appreciation of the Asia Pacific market, having worked in Japan, China, Indonesia and Singapore. He graduated from National University of Singapore with a Bachelor of Science, majoring in Computing and Information Systems.

Shao Hong Frank Khoo

Mr. Frank Khoo Shao Hong is Group Chief Investment Officer of the Company. Mr Frank Khoo joined CDL as Group Chief Investment Officer in February 2018. He assists the Group CEO to source and execute new investment opportunities, and also establish a dedicated fund management platform. With over 20 years of international experience in fund management, private experience in fund management, equity, acquisition of real estate assets and the repositioning and restructuring of real estate businesses, Mr Khoo has an extensive network of investors, ranging from insurance companies, pension funds, sovereign wealth funds and high net worth individuals across Asia and Europe. Previously, Mr Khoo was the Global Head of Asia of AXA Investment Manager – Real Assets (AXA IM Real Assets) where he oversaw all real estate activities for AXA IM Real Assets in Asia, including investment, transaction, fund management, asset management, capital raising and finance. He has also held various executive positions in Pacific Star Fund Management Pte Ltd, Guthrie GTS Ltd, Phileoland Bhd and Kestral Capital Partners. He holds a Master of Business Administration from Nanyang Technological University of Singapore, as well as Bachelor of Engineering (Honours) and Bachelor of Science degrees from University of Queensland, Australia. He is also a Chartered Accountant in Singapore.

Ngiang Hong Chia

Mr. Chia Ngiang Hong is Group General Manager of the Company. Mr Chia Ngiang Hong joined CDL in 1981 and has around 40 years of experience in the real estate industry in Singapore and the region. A much-respected industry veteran, Mr Chia is a member of the Advisory Panel in the Building and Construction Authority Academy and Fellow of the Singapore Institute of Surveyors and Valuers. He is also President of the Real Estate Developers’ Association of Singapore (REDAS), Board Member of the Institute of Real Estate Studies, and Immediate Past President of the Singapore Green Building Council. He presently chairs the Advisory Committee to the National University of Singapore’s School of Design and Environment and is a member of the Department Consultative Committee. Mr Chia holds a Bachelor of Science in Estate Management (Honours) from the University of Singapore and a Master in Business Administration (Distinction) from the University of Hull, UK. Beyond his contributions to the building and construction industry, Mr Chia is also active in community and grassroots activities and serves as a Justice of the Peace.

Esther An

Ms. Esther An is Chief Sustainability Officer of the Company. Ms Esther An joined CDL in 1995 to establish the Company’s Corporate Communications department and subsequently CDL’s Corporate Social Responsibility (CSR) portfolio. She has been instrumental in building up CDL’s leadership in sustainability. A forerunner in CSR and a member of the management committee of Global Compact Network Singapore since 2005, she also sits on board the Corporate Advisory Board of World Green Building Council. A founding member of the Singapore Business Council for Sustainable Development, she is a signatory of the UN Caring for Climate initiative and a member of the Urban Land Institute Women’s Leadership Initiative Singapore Steering Committee. Her latest appointment includes the UN Environment Programme (UNEP) Finance Initiative Investor Work Group. She holds a Bachelor of Arts (Honours) degree from the University of Hong Kong and has extensive experience in communications, advertising and community engagement, as well as media and investor relations, in both the public and private sectors before joining CDL.

Eik Sheng Kwek

Mr. Kwek Eik Sheng is Chief Strategy Officer, Head - Asset Management of the Company. Mr Kwek Eik Sheng joined CDL in 2009, covering Business Development for overseas projects before being appointed as Head of Corporate Development. He assumed his role as Chief Strategy Officer in 2014 and was additionally appointed Head, Asset Management in April 2016. He was re-designated to Group Chief Strategy Officer on 1 February 2018. Prior to joining CDL, he was with the Hong Leong Group of companies in Singapore specialising in corporate finance roles since 2006. He was appointed to the Board of Millennium & Copthorne Hotels plc in 2011 and holds the position of Non-Executive Director. He holds a Bachelor of Engineering in Electrical and Electronics Engineering from Imperial College of Science, Technology and Medicine and a Master of Philosophy in Finance from Judge Business School, Cambridge University.

Mark Yip

Mr. Mark Yip is Chief Revenue Officer, Chief Executive Officer, CDL China Limited of the Company. Mr Mark Yip was appointed as CDL’s Chief Marketing Officer in 2014. He is responsible for the Marketing & Sales, and Leasing operations of residential, retail and commercial spaces. In April 2016, he was also appointed CEO of CDL China Limited to oversee the overall management of the Group’s investments and development projects in China, as well as develop and implement the Group’s real estate investment and business strategies for China. Mr Yip has a wealth of experience in management, sales, marketing and operations from a diverse range of industries including property, retail sports and fashion, transport, and supply chain and logistics. Before joining CDL, he was with Far East Organization as Deputy Director, focusing on planning and operations. Other senior management positions he has held include CEO of Royal Sporting House, Malaysia and Director of PUMA, Executive Director of CircleFreight, Brunei/ Eagle Global Logistics Corporation and General Manager of ComfortDelGro Bus. Mr Yip holds a Bachelor and Master’s of Business and was recipient of the Logistics Management Group Prize from RMIT in Melbourne. He completed the Senior Executive Programme at London Business School and Asia Pacific Advanced Management Programme from the National University of Singapore.

Peek Fong Ling

Loh Shufen

Yin Nee Lim

Ms. Lim Yin Nee Jenny is Lead Independent Director of the Company. She Appointed a Director of CDL on 22 June 2018, Ms Lim is the Lead Independent Director and is also the Chairman of the ARC and the RC, and a member of the BC and the NC of CDL. Ms Lim will be seeking election as a Director at the 2019 AGM. Ms Lim was an Independent Non-Executive Director of both M&C REIT Management Limited, the manager of CDL Hospitality Real Estate Investment Trust, and M&C Business Trust Management Limited, the trustee-manager of CDL Hospitality Business Trust from 2006 until she stepped down on 26 April 2017. During her tenure as a Director on the two boards, she was also the Lead Independent Director and chairman of the Audit and Risk Committees. Ms Lim was admitted as a partner of KPMG in 1983. She started her career with KPMG, first in audit and subsequently specialised in taxation. Prior to her retirement from professional practice on 31 December 2001, she was the Head of KPMG’s Tax Practice and a member of KPMG’s International Tax Committee. She remained as an Advisor to KPMG until 31 January 2004. Ms Lim is a retired fellow member of the Association of Chartered Certified Accountants, United Kingdom (ACCA). She was previously ACCA’s examiner for both the Taxation and Advanced Taxation papers, an adjunct professor with the Singapore Management University, a facilitator with the Tax Academy of Singapore and a board member of Raffles Institution. Presently, Ms Lim is the President of Viriya Community Services, a charitable organisation.

Leng Peck Kwek

Mr. Kwek Leng Peck is Non-Executive Non-Independent Director of City Developments Limited, since August 01, 1987. Mr. Kwek Appointed a Director of CDL on 1 August 1987, Mr Kwek was last re-elected as a Director on 25 April 2018. He is a member of the BC of CDL. Mr Kwek is the Executive Chairman of HLA. He is also an Executive Director of HLIH and Hong Leong Corporation Holdings Pte Ltd (HLCH), the non-executive Chairman of Tasek Corporation Berhad (TCB) and a non-executive Director of HLF, M&C and China Yuchai International Limited (CYI). HLA, HLF, M&C, TCB, CYI and HLCH are subsidiaries of HLIH and thus, are related companies under the Hong Leong Group of companies. Mr Kwek has many years of experience in trading, manufacturing, property investment and development, hotel operations, corporate finance and management.

Thiam Hock Koh

Mr. Thiam Hock Koh is Independent Non-ExecutiveDirector of the Company. Mr Koh Appointed a Director of CDL on 5 September 2016, Mr Koh was elected on 25 April 2017. He also sits on the BC, the ARC and the RC of CDL. Mr Koh held the role of Vice Chairman and General Manager of Bank of America NT & SA Singapore Branch (BOA) from 2012 until his retirement in April 2016. In his last newly created role with BOA, he was responsible for grooming new senior local talent and assisted with the transition resulting from the merger of Bank of America (Singapore Branch) and Merrill Lynch Singapore. He was the principal officer liaising with the Regulators to ensure that all material weaknesses in the system were addressed and chaired the local branch management committee which comprised the heads of the various business lines and enterprise control and operational functions to discuss and resolve strategic issues. Mr Koh’s experience included a broadened function involving oversight responsibilities for compliance (regulatory, anti-money laundering, fraud detection/escalation and remediation protocols including code of ethics and conduct), finance (audit, tax and financial reporting and disclosure processes), human resource and enterprise risk matters. During his 40 years in banking, which included his stints as Country Executive for Bank of America (prior to merger) from 2004 to 2008 and Country Executive of the merged BOA operations in Singapore from 2009 to 2011, he had dealt with different industries covering local/ regional hardware, automotive and trading/ commodity/shipping and the manufacturing sectors.

Poay Seng Tan

Mr. Tan Poay Seng is Independent Non-Executive Director of City Developments Limited, since February 02, 2012. Mr Tan Appointed a Director of CDL on 2 February 2012, Mr Tan was last re-elected as a Director on 25 April 2017. He also sits on the BSC of CDL. Mr Tan will be seeking re-election as a Director at the 2019 AGM. Mr Tan is the Managing Director of Magni-Tech Industries Berhad, an investment holding company listed on the Main Market of Bursa Securities Malaysia Berhad, and Coronation Springs (M) Sdn. Bhd., a niche property development company. He has been named as one of the best CEOs of companies listed in nine sectors on Bursa Malaysia in 2016. Mr Tan holds a diploma in Hotel Management, Switzerland and has more than 20 years of experience in various business sectors which include manufacturing, housing development, marketing, retailing and healthcare services.

Yee Peng Tan

Ms. Tan Yee Peng is Independent Non-Executive Director of the Company, since May 7, 2014. Ms. Tan Appointed a Director of CDL on 7 May 2014, Ms Tan was last re-elected on 25 April 2017. She is also the Chairman of the BSC and a member of the BC, the ARC and the NC of CDL. Ms Tan graduated with First Class Honours degree in Accountancy from Nanyang Technology University (NTU) and has more than 18 years of accounting and auditing experience, and previously served as an audit partner with KPMG LLP (“KPMG”) from 2003 to 2010. As an audit and advisory partner, she was closely involved in providing accounting and advisory services to clients in both the private and public sectors. Ms Pte. Ltd. Tan also acted as the Reporting Accountant and auditor for several companies listed on the Singapore Exchange, but was not involved in any KPMG audit engagement with the CDL Group. Since her retirement as a practicing accountant, Ms Tan, at the request of KPMG, served as principal advisor from 2010 to 2011 on matters related to the healthcare industry, and assisted the firm in establishing the AsPAC Healthcare network. Ms Tan was an Adjunct Associate Professor of the Nanyang Business School, NTU, till 2018. Besides academia, she has also been contributing actively to the non-profit sector and is a member of the Medifund Committee of Vanguard Healthcare. Ms Tan was formerly a member of the Audit Committee (non-board position) of Jurong Health Services Pte. Ltd. Ms Tan is a Fellow of the Institute of Singapore Chartered Accountants and a member of the Singapore Institute of Directors.

Liat Kok Yeo

Mr. Yeo Liat Kok is Independent Non-Executive Director of the Company, since May 11, 2009. Mr Yeo is Appointed a Director of CDL on 11 May 2009, Mr Yeo was last re-elected as a Director on 25 April 2017. He is also the Chairman of the NC and a member of the Remuneration Committee (RC) and the Board Sustainability Committee (BSC) of CDL. Mr Yeo will be seeking re-election as a Director at the 2019 AGM. Mr Yeo is Chairman of Economic Development Innovations Singapore Pte Ltd (EDIS) which provides strategic advice and undertakes the development and management of integrated industrial and urban areas with an emphasis on job creation and industrial cluster development. Mr Yeo is an independent Director of Baiterek National Managing Holding and Kerry Logistics Network Limited and the Chairman of Accuron Technologies Limited, Hexagon Development Advisors Pte. Ltd. and MTIC Holdings Pte. Ltd. Mr Yeo holds a Bachelor of Applied Science (Industrial Engineering), an honorary Doctorate in Engineering from the University of Toronto, Canada, an honorary Doctorate in Medicine from the Karolinska Institutet, Sweden, a Master of Science (Systems Engineering) from the University of Singapore, a Master of Business Administration from Harvard University, USA, a Doctor of Science from Imperial College, London, an honorary Doctor of Letters from National University of Singapore and an honorary Doctor of Law from Monash University of Australia. He also received the Order of the Rising Sun, Gold and Silver Star from the Government of Japan (2007) and the Distinguished Service (Star) award from the Singapore Labour Movement, National Trade Union Congress (2008).

Belinda Lee