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Managers of 3 Mapletree trusts reshuffle boards

THE managers of Mapletree Commercial Trust (MCT), Mapletree North Asia Commercial Trust (MNACT) and Mapletree Industrial Trust (MIT) have separately announced on Tuesday night changes to their boards of directors with new appointments and resignations to take effect from Dec 15.

MCT and MNACT have each appointed two new board members, while a non-executive director has resigned. MIT has appointed three new board members, while two directors will be leaving.

MCT's manager has appointed Koh Mui Ai, 48, as a non-executive director and Mak Keat Meng, 60, as an independent non-executive director, while Wong Mun Hoong, 53, has resigned as a non-executive director after more than eight years in the role.

Ms Koh was also named a non-executive director of MNACT's manager, while Chua Tiow Chye, 60, was appointed a member of the nominating and remuneration committee. Hiew Yoon Khong, 58, has resigned as non-executive director.

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MIT's manager has appointed Mr Chua, Ms Koh and Michael Smith, 50, as non-executive directors. Mr Chua was also named a member of the nominating and remuneration committee.

Mr Chua is deputy group chief executive officer (CEO) of Mapletree Investments, the sponsor of all three trusts, while Ms Koh is group chief financial officer (CFO).

Mr Smith is regional CEO of Europe and USA, Mapletree Investments.

Ms Koh had succeeded Mr Wong as group CFO on Aug 1, 2019. Prior to the appointment, she was regional CEO, South-east Asia, of Mapletree Investments for almost five years.

Mr Mak - one of MCT's new appointments - had retired in June 2019 as an audit partner of Ernst & Young LLP, where he was the head of audit.

"Mr Mak and Ms Koh will bring added bench strength as well as diversity of perspectives to the business strategy of MCT," MCT's board said in the bourse filing.

MCT units closed down S$0.01 or 0.4 per cent to S$2.33, MNACT units closed unchanged at S$1.16, and MIT units rose S$0.01 or 0.4 per cent to S$2.61 on Tuesday.