Ex-OCBC CEO Samuel Tsien appointed to Mapletree Commercial Trust’s board

MAPLETREE Commercial Trust (MCT) announced in a bourse filing on Tuesday (Jul 5) that it has appointed former OCBC chief executive Samuel Tsien as a non-executive director of the manager of the real estate investment trust (Reit).

Concurrently, Tsien is a non-executive director of Mapletree Investments, the sponsor of MCT, and a member of the sponsor’s investment committee.

In addition, he is also a non-executive independent director and audit committee member of Jardine Cycle & Carriage and a non-executive, non-independent director and risk-management committee member of the Singapore Exchange.

Tsien had served as the group chief executive and executive director of OCBC for 9 years and then retired in April last year.

In May, MCT unitholders voted in favour of a merger with Mapletree North Asia Commercial Trust (MNACT), which led to the creation of Mapletree Pan Asia Commercial Trust (MPACT), one of Asia’s 10 largest Reits.

MCT units closed down 1.6 per cent or S$0.03 at S$1.80 on Tuesday before the announcement.