SINGAPORE: Frasers Property Limited announced that Christopher Tang, Frasers Property Singapore Chief Executive Officer (CEO), who will turn 60 next year, will retire as CEO on 31 December 2019.

The Company also announced a key leadership appointment and evolution of its Singapore business organisation as part of its planned leadership changes to ensure a smooth and successful leadership transition across its Singapore operations.

From 1 January 2020, Mr Tang will assume a new position of Senior Adviser, while continuing to serve as a director on the boards of Frasers Property (Singapore) Pte. Ltd., Frasers Centrepoint Asset Management Ltd. (the manager of Frasers Centrepoint Trust) and Frasers Commercial Asset Management Ltd. (the manager of Frasers Commercial Trust).

Tang joined Frasers Property in 2001, and since then, he has held several appointments including CEO for Commercial and Greater China and CEO of Frasers Centrepoint Asset Management Ltd.

The Company also announced the formation of a retail-focused platform in Singapore, which will cover the asset, property and development management of its retail assets in Singapore. The Singapore retail platform will become a retail focused business unit in Singapore from 15 October 2019, representing an asset size of about SGD $8 billion with development, asset management and property management capabilities in respect of retail assets held across Frasers Property Singapore and FCT.

Low Chee Wah will beappointed as Chief Executive Officer of the Singapore retail platform with effect from 15 October 2019. “It has been an incredible journey being part of the Frasers Property Group growth story and leading Frasers Property Singapore has been an honour and privilege. The planned retirement reflects my personal desire to participate in the Group’s continual growth in a different leadership capacity,” said Christopher Tang, CEO, Frasers Property Singapore.

Edited by Kazim Rizvi