AA Reit announces changes to board of directors

SINGAPORE - Aims AMP Capital Industrial Reit has a number of changes to its board of directors, as part of a regular review process to ensure board independence and sound corporate governance.

In a release issued on Friday (March 31), the company said Mr Tan Kai Seng will relinquish his position as non-executive lead independent director effective from March 31, 2017. He will be succeeded by Mr Norman Ip Ka Cheung, the release added.

"Kai Seng has served AA REIT with dedication for more than 10 years since its inception. He has lent invaluable knowledge and experience... and contributed significantly to the Reit's excellence in corporate governance," the Reit's chief executive officer Koh Wee Lih said.

In accepting his new position, Mr Ip will step down as chairman of the nominating and remuneration committee, which will in turn be filled by current non-executive independent director Eugene Paul Lai Chin Look.

In addition, the company announced the appointment of Mr Heng Peter Michael as a non-executive independent director. Mr Heng has over 30 years of investment management experience in leading companies such as NTUC Income Insurance Co-operative and Straits Lion Asset Management.