GLP appoints new board chairman

SINGAPORE- Global Logistics Properties (GLP) has appointed Dr Seek Ngee Huat as the firm's new board chairman, with effect from July 17.

The appointment follows former chairman Ang Kong Hua's decision to retire, said the listed warehouse provider on Friday.

Dr Seek is currently the chairman of GLP's investment committee and a member of the firm's human resource and compensation committee. He has also been a non-executive director of the firm since its initial public offering in 2010.

Previously, Dr Seek had been the president of GIC Real Estate for 15 years.

"Dr Seek, who has many years of experience and familiarity with GLP's business and team, takes over from Mr. Ang at an exciting juncture in GLP's development," said Mr Jeffrey Schwartz, chairman of GLP's executive committee.

GLP, which is part-owned by Singapore sovereign wealth fund GIC, provides logistics facilities in China, Japan and Brazil.

It turned in a net profit of US$685.2 million and revenue of US$598.3 million for the 12-months to March 31.