Suntec Reit appoints Celine Tang as board chairman, non-executive director
She will also be appointed to the board’s nominating and remuneration committee
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[SINGAPORE] Property tycoon Celine Tang has been appointed as chairman and non-executive director to the board of Suntec Real Estate Investment Trust’s (Reit) manager.
Tang, 58, will also be appointed to the board’s nominating and remuneration committee, the manager said in a bourse filing on Friday (Jul 10).
Tang, together with her husband Gordon Tang, owns Tang Organization, the sponsor of Suntec Reit. The property tycoon couple’s investment company Acrophyte Asset Management acquired Suntec Reit’s manager earlier this year.
In March, Tang Organization said it plans to “undertake a comprehensive strategic review” of the Reit’s portfolio.
The Tangs had previously launched a mandatory conditional offer for Suntec Reit in 2024, after their vehicle acquired some 62.5 million units via the market, bringing their stake in the Reit to 31.45 per cent. The bid failed as their unitholdings fell short of the 50 per cent threshold when the offer closed.
Tang, together with her husband and son Gallant Tang, are substantial shareholders of Suntec Reit. She directly holds 9 per cent of the units of Suntec Reit, and has a 0.4 per cent deemed interested through the manager.
She is currently managing director at Haiyi Holdings and executive director at Tang Dynasty.
She was formerly group managing director of property developer SingHaiyi Group, and chairman of construction and property player Chip Eng Seng.
Both companies were listed on the Singapore Exchange (SGX), before they were taken private by the Tang family between 2021 and 2022.
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She was also non-executive chairman at SGX-listed construction company GRC, formerly known as OKH Global.
Following Tang’s appointment, Lock Wai Han will cease to be interim chairman, while remaining as an executive director to the manager’s board.
Lock, who is chief executive of GRC, was appointed as interim chairman in March 2026.
Units of Suntec Reit closed 0.7 per cent or S$0.01 higher at S$1.48 on Friday, before the announcement.
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