Bukit Sembawang Estates CEO steps down

The chief executive officer of property developer Bukit Sembawang Estates is stepping down, as he has completed his full term of office as per his employment contract, the company said on Friday night.

Ng Chee Seng will retire as CEO and executive director of the company with effect from Aug 31, and consequently relinquishes his position as a member of the company's project development committee as well.

Bukit Sembawang Estates is looking for a new CEO and will update shareholders once it finds a suitable candidate.

In the meantime, the current chief financial officer and company secretary Ooi Chee Eng will assume the role of acting CEO from Sept 1, until a permanent CEO is identified and appointed.

Shares of Bukit Sembawang Estates closed at S$5.07 before the announcement on Friday, up four Singapore cents or 0.8 per cent.