28 Apr
2011

Ascott Appoints Regional General Manager To Drive Growth In Singapore And Malaysia

NEWS RELEASE

ASCOTT APPOINTS REGIONAL GENERAL MANAGER TO DRIVE GROWTH IN SINGAPORE AND MALAYSIA

Singapore, 28 April 2011
– CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has appointed Mr Tan Boon Khai as Regional General Manager for Singapore and Malaysia. He is responsible for driving the company’s growth and ensuring operational effectiveness to enhance Ascott’s presence in both markets.

Mr Alfred Ong, Ascott’s Managing Director for Southeast Asia & Australia, said: “Singapore is a major contributor to the business performance of The Ascott Limited and our Singapore-listed REIT, Ascott Residence Trust. Our Malaysia properties also continue to lead in market performance. Adding Boon Khai to the team will further strengthen Ascott’s management bench strength. He will also position Ascott to tap growth opportunities in Singapore and Malaysia as we work towards achieving our target of 14,000 apartment units in Southeast Asia & Australia by 2015.”

Mr Tan, who was Senior Vice President in the Office of President at CapitaLand, has covered various work areas including business development, operations as well as the formalisation and standardisation of business systems and processes within the CapitaLand Group. Mr Tan has more than 13 years of work experience in both private sector and government service.

Mr Tan said: “Singapore and Malaysia are key growth markets for Ascott and both continue to offer tremendous potential. Demand for internationalclass serviced residence remains strong as foreign investments and tourist arrivals are increasing in these markets. I am excited to work with Ascott’s dynamic and passionate team to strengthen the company’s presence in Singapore and Malaysia.”

Ascott currently operates more than 900 apartment units in eight properties in Singapore. In Malaysia, Ascott is the largest international serviced residence owner-operator with over 1,300 apartment units across 10 properties. This includes three properties which are scheduled to open in the next three years - Citadines Uplands Kuching (opening in 2012), Ascott Sentral Kuala Lumpur (2013) and Citadines D'Pulze Cyberjaya (2014).

About The Ascott Limited

The Ascott Limited is the world’s largest international serviced residence owner-operator with over 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 5,000 units which are under development, making a total of more than 27,000 units.The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across 20 countries, 13 of which are new cities in Ascott’s portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific’s first international-class serviced residence in 1984. It also established the world’s first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 27-year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers’ Choice Awards 2011 ‘Best Serviced Residence in Asia Pacific’, TTG China Travel Awards 2011 ‘Best Serviced Residence Operator in China’, Business Traveller UK Awards 2010 ‘Best Serviced Apartment Company’, Business Traveller Asia-Pacific Awards 2010 ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence in Asia-Pacific’ and TTG Travel Awards 2010 ‘Best Serviced Residence Operator’.

About CapitaLand Group

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multi-local company’s core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company’s real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.


 

Joan Tan, Assistant Vice President, Corporate Communications

Tel: (65) 6500 3401   

HP: (65) 9743 9503   

Email: joan.tan@the-ascott.com

 

Ngeow Shang Lin, Executive, Corporate Communications

Tel: (65) 6500 3403   

HP: (65) 9877 6305   

Email: ngeow.shanglin@the-ascott.com