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Ascott Reit gets new chairman

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ASCOTT Residence Trust's (Ascott Reit) manager on Wednesday announced that Tan Beng Hai will replace Lim Jit Poh as chairman of the board, from Sept 1, 2016.

ASCOTT Residence Trust's (Ascott Reit) manager on Wednesday announced that Tan Beng Hai will replace Lim Jit Poh as chairman of the board, from Sept 1, 2016.

Mr Tan is an existing independent director of the company, and is a Fellow of the Institute of Chartered Accountants in England and Wales, UK. He was awarded the Public Service Star Award in 2010, the Friend of Labour Award in 2000, and the May Day Meritorious Service Award in 2013.

Under the changes at Ascott Reit, Mr Tan will also assume the role of chairman of the Corporate Disclosure Committee (CDC) and relinquish his role as a member of the Audit Committee (AC).

Mr Lim will step down as a non-executive independent director, and will cease to be chairman of the board and the CDC.

The manager of Ascott Reit also announced the following changes, all taking effect from Sept 1, 2016:

- Ku Moon Lun will step down as an independent director, and cease to be chairman of the AC;

- Sim Juat Quee Michael Gabriel will be appointed as an independent director and chairman of the AC; and

- Elaine Carole Young will be appointed as an independent director and a member of the AC.