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Cache Logistics Trust's manager makes board changes
CACHE Logistics Trust on Monday announced changes to the board of its manager, ARA Trust Management (Cache).
The manager has appointed Moses K Song and Chia Nam Toon, as non-executive directors of the manager. Mr Song is assistant group CEO and group chief investment officer at ARA Asset Management, while Mr Chia is assistant group CEO and CEO of Reits and business development at ARA.
This comes as Loi Pok Yen, CWT's group chief executive, and Jimmy Yim, deputy chairman of law firm Drew & Napier, have resigned as non-executive directors of the manager.
ARA this year moved to acquire all the shares that it does not already own in the Reit and property manager of Cache Logistics Trust, buying the stakes previously held by global logistics firm CWT.
Consequently, the manager has also been renamed to ARA Trust Management (Cache) from ARA-CWT Trust Management (Cache).