Change - Announcement of Appointment::Appointment of Group Chief Investment Officer

Issuer & Securities

Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
29-Jan-2018 18:48:06
Status
New
Announcement Sub Title
Appointment of Group Chief Investment Officer
Announcement Reference
SG180129OTHRLJ1W
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Group Chief Investment Officer.

Additional Details

Date Of Appointment
01/02/2018
Name Of Person
Frank Khoo Shao Hong
Age
49
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee (NC) has recommended to the Board that Mr Frank Khoo Shao Hong be appointed the Group Chief Investment Officer ("Group CIO") of the Company. The NC had taken into consideration, inter alia, Mr Khoo's qualifications, experience and proven track record of over 20 years of international experience in fund management, private equity, acquisition of real estate assets and the repositioning and restructuring of real estate businesses. The Board has approved the appointment as recommended by the NC, and is of the view that Mr Khoo's appointment as Group CIO will help ensure that the Group is well poised to push forward on its real estate investment and fund management strategies.
Whether appointment is executive, and if so, the area of responsibility
Yes, appointment is in an executive role. Mr Frank Khoo, as Group CIO, will assist Mr Sherman Kwek, the Group Chief Executive Officer of the Company in the sourcing and execution of new investment opportunities while also setting up a dedicated fund management platform.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group Chief Investment Officer
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
June 2006 to August 2008
Senior Vice President, Pacific Star Fund Management Pte Ltd
- In charge of fund management activities of the company, launched and oversaw two funds, namely Pan Asia Development Fund and Singapore Residential Fund, raising capital from overseas investors and private banks.


September 2008 to November 2017
Global Head of Asia, AXA Investment Manager - Real Assets
- Oversaw all real estate activities in Asia which included investment, transaction, fund management, asset management, capital raising and finance. Built the Asian business from scratch, putting together teams in Australia, Singapore, Korea and Japan, and eventually achieved total Assets Under Management (AUM) of S$10 billion for Asian clients in Asia and Europe.
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
Yes
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8).
Past (for the last 5 years)
AXA Real Estate Investment Managers Singapore Private Limited
AXA Real Estate Investment Managers Japan KK
AXA Real Estate Investment Managers Australia Pty Ltd
AXA Real Estate Investment Managers Australia Holding Pty Ltd
Eureka Funds Management Holdings Pty Limited
Eureka Funds Management Limited
AXA Real Estate Investment Managers Korea Co Ltd
Present
None
(a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner?
No
(b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency?
No
(c) Whether there is any unsatisfied judgment against him?
No
(d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose?
No
(e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach?
No
(f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part?
No
(g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust?
No
(h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust?
No
(i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity?
No
(j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-
(i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or
No
(ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or
No
(iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or
No
(iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust?
No
(k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere?
No
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Not applicable