Frasers Centrepoint Trust's manager names Richard Ng as CEO-designate

FRASERS Centrepoint Trust (FCT)'s manager has named Richard Ng as chief executive officer-designate to take over the reins from Chew Tuan Chiong, who is retiring.

Frasers Centrepoint Asset Management (FCAM), in a regulatory filing on Friday, announced the appointment of the 51-year-old Mr Ng as CEO-designate from Apr 15. Dr Chew will assume the role of adviser to Frasers Property when he retires on July 1.

Mr Ng joined Frasers Property Singapore in April 2018 as executive vice-president, head of asset management, overseeing the planning and implementation of asset enhancement strategies for the retail assets in Frasers Property Singapore's portfolio. His experience in the Singapore and regional property markets spans across marketing, investment and asset management (including involvement in Reit management). He has held various senior management appointments, including a 14-year tenure with the CapitaLand Group. Before joining Frasers Property Singapore, Mr Ng was executive director, asset management, at PGIM (Singapore).

"I am honoured to have the opportunity to join FCAM. I will endeavour to work with the board and the FCAM team to build on FCT's strong track record and help bring it to the next level," he said.

Dr Chew had announced his intention at the annual general meeting to retire at 62 years of age after leading FCT since 2010.

"Tuan Chiong, who had come from a totally different industry, has been instrumental in steering FCT's remarkable growth trajectory over the last 10 years and has laid a strong foundation for FCT. Under his leadership, FCT delivered consistently good performance, achieving higher distribution per unit and net asset value every single year, while maintaining a robust capital structure. The board would like to express its appreciation to Tuan Chiong for his contributions and we wish him the very best in his future endeavours," Cheong Choong Kong, chairman of FCAM, said.

Dr Chew had been Science Centre Singapore's head for 14 years.

"On behalf of the board, I welcome Richard to FCAM, the manager of FCT. Richard is a veteran with 27 years of experience in the real estate industry with substantial focus on Singapore retail properties. We look forward to his leadership as FCT continues on its next phase of growth," added Dr Cheong.