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Update: City Developments' CFO quits to join another listed firm

CITY Developments Ltd's (CDL) chief financial officer (CFO) has quit to join another listed company.

The property developer on Tuesday said it has accepted the resignation of Goh Ann Nee as CFO, and her last day with the company will be Jan 26, 2016.

Ms Goh, 56, will be taking up an executive position in a listed company operating in another sector.

CDL's board said it "extends its best wishes to Ms Goh on her future endeavours" and also took the opportunity to "express its sincere appreciation to Ms Goh for her leadership, dedication and invaluable contributions".

During her tenure of more than 10 years as CFO of CDL, Ms Goh was instrumental in building and growing the company, it said.

In a separate regulatory announcement, it said: "Ms Goh contributed significantly to the oversight of the financial goals and objectives of the group. Her duties include overseeing the financial planning and reporting, corporate tax, corporate finance, accounting and treasury functions of the group."

CDL has begun an external search for a successor CFO. Until a new CFO is appointed, Yiong Yim Ming, currently senior vice-president, group accounts (subsidiaries and joint ventures), will handle the duties and responsibilities of the CFO's office.

Ms Yiong has been with CDL for more than eight years, working directly under Ms Goh. Before joining CDL, she served a 10-year stint with KPMG Singapore and a two-year engagement with Ernst & Young Singapore.