Change - Announcement of Appointment::Announcement of Appointment of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
FRASERS HOSPITALITY ASSET MANAGEMENT PTE. LTD.
Securities
FRASERS HOSPITALITY TRUST - SG1AA5000001 - ACV
Stapled Security
Yes

Other Issuer(s) for Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
24-May-2019 17:38:27
Status
New
Announcement Sub Title
Announcement of Appointment of Chief Executive Officer
Announcement Reference
SG190524OTHRQ6GC
Submitted By (Co./ Ind. Name)
Catherine Yeo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Chief Executive Officer

Additional Details

Date Of Appointment
01/07/2019
Name Of Person
Colin Low Hsien Yang
Age
42
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
As part of succession planning and leadership renewal, Frasers Hospitality Asset Management Pte. Ltd. ("FHAM") and Frasers Hospitality Trust Management Pte. Ltd. ("FHTM"), the manager of Frasers Hospitality Real Estate Investment Trust ("FH-REIT") and the trustee-manager of Frasers Hospitality Business Trust ("FH-BT") respectively (collectively, the "Managers"), have identified Mr Colin Low Hsien Yang to succeed Ms Eu Chin Fen as the Chief Executive Officer of FHAM and FHTM with effect from 1 July 2019.

The Nominating and Remuneration Committee (the "NRC") of each of the Managers has reviewed the qualifications and work experience of Mr Colin Low Hsien Yang. Mr Low has about 18 years of experience in the hospitality industry, fund and asset management, business development and in cross-border, multi-sector transactions. He was also the Head of Investment of FHAM from 2014 to 2018. Taking into account his qualifications and work experience, the NRC has recommended to the Board (the "Board") of each of the Managers Mr Low's appointment as the Chief Executive Officer of FHAM and FHTM.

The NRC and the Board of each of the Managers have assessed Mr Low's previous employment and experience and are of the opinion that he is suitable for the role.

Please refer to the attached press release for more information.
Whether appointment is executive, and if so, the area of responsibility
The appointment is executive.

The Chief Executive Officer is responsible for the overall business, investment and operational strategies of Frasers Hospitality Trust ("FHT"), FH-REIT and FH-BT. The Chief Executive Officer also works with the Board of each of the Managers to determine the overall business and investment strategies of FHT, FH-REIT and FH-BT, and is responsible for the day-to-day management of FHT, FH-REIT and FH-BT.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer
Professional qualifications
Bachelor of Social Science (Honours) in Economics, National University of Singapore
Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer 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
Head of Investment Properties EMEA, CBRE Hotels (August 2018 to April 2019)
Senior Vice President, Head of Investment, FHAM (June 2014 to June 2018)
Director of Business Development, Frasers Hospitality, Frasers Property Limited (October 2011 to June 2014)
Senior Manager, Regional Investment and Asset Manager, CapitaMalls Asia Limited (April 2011 to October 2011)
Investment Manager, AIG Global Real Estate Investment (Asia) (September 2008 to December 2010)
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?
Yes
Shareholding Details
20,000 stapled securities in Frasers Hospitality Trust
# 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)
None
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
Any prior experience as a director of an issuer listed on the Exchange?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
Not applicable.

Attachments

FHT_Press Release.pdf
Total size =121K