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CEO of Ascendas Reit's manager resigns

ASCENDAS Funds Management (AFM), the manager of Ascendas Real Estate Investment Trust (Ascendas Reit), announced on Friday that Chia Nam Toon has resigned as CEO and as director of AFM and its related entities, for personal reasons.

His last day of service will be on Nov 19, and he has relinquished his duties as CEO of AFM.

The board will name and announce the successor CEO in due course.

Manohar Khiatani, who is a non-executive director on the board of AFM and the deputy group CEO of AscendasSingbridge Pte, the sponsor of Ascendas Reit, has been nominated with immediate effect, as the board's representative to work with and support the AFM management team in carrying out the business and operations of AFM.

In a filing to the Singapore Exchange, the company said that it remains "business as usual" for AFM which will continue to be "fully supported by an experienced and strong management team".

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