Metro Holdings, the retailer turned property development and investment group, has appointed Mr Yip Hoong Mun as group chief operating officer and chief executive of Metro China Holdings, it said yesterday.
Mr Yip, 55, will take the post from Feb 3, and assume overall responsibility for the group's property division. He has close to 30 years of experience in executive and senior management roles in strategic planning, operations, hospitality, real estate investment and development.
Mr Yip spent over 20 years with the CapitaLand group, and was managing director of CapitaLand Indonesia from September 2013 to December last year, and deputy CEO of CapitaLand Vietnam from January 2008 to August 2013.
He was also managing director of Ascott China in 2003. Metro's focus is on key markets in the region such as China, Indonesia and Singapore.
The company has sought to ensure the smooth continuity of operations since group managing director Jopie Ong died last February.
Mr Ong, who was 75, had helmed the group for more than four decades, and was known as the first retailer to introduce luxury brands like Cartier and Gucci to Singapore.
Last October, Metro also fended off calls from an activist fund to pay out a special dividend. It said that its strong net cash position was a recent occurrence due to divestment of properties, but its business remains capital intensive.