25 Sep 2018,
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Fortune Real Estate Investment Trust (F25U.SI)

Real Estate

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Fortune REIT is a real estate investment trust constituted by a trust deed entered into on 4 July 2003 (as amended) made between ARA Asset Management (Fortune) Limited, as the manager of Fortune REIT, and HSBC Institutional Trust Services (Singapore) Limited, as the trustee of Fortune REIT.

Listed on 12 August 2003 on the Singapore Exchange Securities Trading Limited with a dual primary listing on The Stock Exchange of Hong Kong Limited on 20 April 2010, Fortune REIT was Asia’s first cross-border REIT and also the first REIT to hold assets in Hong Kong. It currently holds a portfolio of 17 private housing estate retail properties in Hong Kong comprising of 3.18 million square feet of retail space and 2,713 carparking spaces.

The Manager’s key objective is to deliver regular and stable returns to Fortune REIT’s Unitholders through proactive management of Fortune REIT’s portfolio of assets and acquiring properties that generate long term benefits to Unithholders.
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Lan Hong Tsung, David - Independent Non-Executive Director

Dr. Lan, aged 74, has been a Director of the Manager since 2010. He is an Independent Non-Executive Director and a member of the Audit Committee. He is also an Independent Non-executive Director, the Chairman of the Audit Committee and a member of the Designated (Finance) Committee of ARA Asset Management (Prosperity) Limited (the manager of Prosperity REIT). Dr. Lan is also an Independent Non-executive Director of other listed companies in Hong Kong including CK Infrastructure (in which he is a member of the Audit Committee), HTHKH (in which he is a member of the Audit Committee and Chairman of Remuneration Committee) and SJM Holdings Limited. Dr. Lan is currently the Chairman of David H T Lan Consultants Ltd., Supervisor of Nanyang Commercial Bank (China), Limited and holds a directorship at Nanyang Commercial Bank Ltd. as well as being a Senior Advisor of Mitsui & Co. (H.K.) Ltd.. Dr. Lan is also the President of the International Institute of Management.

Dr. Lan was the Secretary for Home Affairs of the Government of HKSAR until his retirement in July 2000. He had served as civil servant in various capacities for 39 years and was awarded the Gold Bauhinia Star Medal (GBS) on 1 July 2000. He was appointed to the 10th and 11th sessions of National Committee Member of the Chinese People’s Political Consultative Conference of the People’s Republic of China. Dr. Lan is a Chartered Secretary and a fellow member of The Hong Kong Institute of Chartered Secretaries and The Institute of Chartered Secretaries and Administrators.

Dr. Lan received his Bachelor of Arts degree from the University of London and completed the Advanced Management Program (AMP) of the Harvard Business School, Boston. He was also awarded Fellow, Queen Elizabeth House (Oxford). Dr. Lan was conferred with the Degree of Doctor of Humanities, honoris causa by Don Honorio Ventura Technological State University and holder of Visiting Professorship Awards of Bulacan State University and Tarlac State University.

Sng Sow-Mei (alias Poon Sow Mei) - Independent Non-Executive Director

Mrs. Sng, aged 73, has been a Director of the Manager since 2003. She is an Independent Non-executive Director and a member of the Audit Committee. She is also an Independent Non-executive Director and a member of the Audit Committee of CK Infrastructure and ARA Asset Management (Prosperity) Limited (the manager of Prosperity REIT), and the Lead Independent Director and a member of the Audit Committee of Hutchison Port Holdings Management Pte Limited (the manager of Hutchison Port Holdings Trust (“HPH Trust”). HPH Trust is listed on the Main Board of SGXST, while CK Infrastructure and Prosperity REIT are listed on the Main Board of SEHK.

From 2004 to 2013, Mrs. Sng was Independent Non-executive Director and a member of the Audit Committee of ARA Trust Management (Suntec) Limited, the manager of Suntec REIT listed on the Main Board of SGX-ST. Prior to her appointments with Singapore Technologies Pte Ltd, where she was Director of Special Projects (North East Asia) in 2000 and a Senior Consultant (International Business) from 2001 to 2013, Mrs. Sng was the Managing Director of CapitaLand Hong Kong Ltd for investment in Hong Kong and the region including Japan and Taiwan. In Hong Kong, Mrs. Sng was a Director of INFA Systems Ltd from 2007 to 2013, the Centre Director and then Regional Director of the Singapore Economic Development Board and Trade Development Board respectively from 1983 to 1997. She was Singapore’s Trade Commissioner in Hong Kong from 1990 to 1997.

Mrs. Sng, who holds a Bachelor of Arts degree from the Nanyang University of Singapore, has wide experience in various fields of industrial investment, business development, strategic and financial management, especially in property investment and management. In 1996, Mrs. Sng was conferred the title of PPA (P) – Pingat Pentadbiran Awam (Perak), the Singapore Public Administration Medal (Silver).

Lim Lee Meng - Independent Non-Executive Director and Lead Independent Director

Mr. Lim, aged 59, has been a Director of the Manager since 2003. He is an Independent Non-executive Director and Lead Independent Director, the Chairman of the Audit Committee, a member of each of the Disclosures Committee and Designated Committee. He is also currently a senior partner of RSM Chio Lim LLP, a member firm of RSM International. Mr. Lim is also an Independent Director of Teckwah Industrial Corporation Limited (“Teckwah”), Tye Soon Ltd (“Tye Soon”) and ARA Trust Management (Suntec) Limited (the manager of Suntec REIT). Teckwah, Tye Soon and Suntec REIT are all listed on the Main Board of SGX-ST. He also serves as the Chairman of the Audit Committee of Teckwah. Mr. Lim is also a practising member of the Institute of Singapore Chartered Accountants, an associate member of the Institute of Chartered Secretaries and Administrators and a member of the Singapore Institute of Directors. He is also the Chairman of the finance committee of Ang Mo Kio Town Council and the vicechairman of the School Advisory Committee of River Valley High School.

Mr. Lim graduated from the Nanyang University of Singapore with a Bachelor of Commerce (Accountancy) degree in May 1980. He also holds a Master of Business Administration degree from the University of Hull (1992), a Diploma in Business Law from the National University of Singapore (1989) and an ICSA qualification from the Institute of Chartered Secretaries and Administrators.

Ang Meng Huat, Anthony - Executive Director

Mr. Ang, aged 59, is an Executive Director of the Manager.

Mr. Ang was the Chief Executive Officer and a Responsible Officer of the Manager. Prior to joining the Manager, Mr Ang was the Chief Executive Officer of ARA Managers (Asia Dragon) Pte. Ltd, which manages the ARA Asia Dragon Limited, the flagship US$1.15 billion private equity fund of ARA Asset Management Limited (“ARA”, the holding company of the Manager) and a responsible officer of ARA Asset Management (Prosperity) Limited (the manager of Prosperity Real Estate Investment Trust). Mr Ang is currently a Board member of ARA Asia Dragon Limited and a Director of Am ARA REIT Managers Sdn Bhd (the manager of AmFIRST Real Estate Investment Trust which is listed on the Main Board of Bursa Malaysia). Before joining ARA in 2006, Mr Ang held senior positions with Armstrong Industrial Corporation Limited (“Armstrong”), a leading precision engineering firm listed in Singapore; GIC Real Estate Pte. Ltd, a global real estate fund management company; Vertex Management Pte Ltd, a Singapore-based global venture capital company; and Majulah Connection Limited, a global business networking and consulting organization. Mr Ang was an Independent Non-Executive Director of Armstrong until March 2014. Mr Ang began his career with the Singapore Economic Development Board where he served for 14 years, including 6 years in the United States as the Regional Director of their North American operations.

Mr Ang holds a Bachelor of Science degree (Mechanical Engineering) with First Class Honours from the Imperial College, London University, and obtained a Master of Business Administration from the European Institution of Business Administration (INSEAD) in 1982 on a scholarship from the Singapore and French governments. He also attended the Strategic Marketing Programme (for Senior Executives) at Stanford University in 1992. Mr Ang is a fellow of the Chartered Management Institute (United Kingdom).

Chiu Yu, Justina - Executive Director and Chief Executive officer

Ms. Chiu, aged 34, was employed by the Manager from 2008 and has been an Executive Director since 2010.

She is the Chief Executive Officer of the Manager with effect from 2 February 2015. She is also a Responsible Officer of the Manager and the Chairman of each of the Disclosures Committee and Designated Committee. She is responsible for the overall performance and direction of Fortune REIT.

Prior to her current appointments, she was the Deputy Chief Executive Officer of the Manager responsible for day-to-day management of Fortune REIT from 2010 to 1 February 2015 and the Chief Operating Officer of the Manager overseeing strategic planning, investment, asset management and investor relations from 2009 to 2010.

Ms. Chiu holds a Master of Science degree in Real Estate Economics and Finance, a Bachelor of Science degree in Accounting and Finance, a Postgraduate Certificate in Laws and a Postgraduate Diploma in Law. She is also a solicitor of the High Court of the HKSAR, a CFA Charterholder and a member of the American Institute of Certified Public Accountants. Ms. Chiu is a member of the 13th Changzhou Committee of the Chinese People’s Political Consultative Conference of the People’s Republic of China. Ms. Chiu is the daughter of Dr. Chiu Kwok Hung, Justin, Chairman of the Manager.

Ma Lai Chee, Gerald - Non-Executive Director

Mr. Ma, aged 47, is a Non-Executive Director and a member of the Designated Committee of the Manager with effect from 1 June 2015.

Mr. Ma has since April 2008 been the Alternate Director to Mr. Ip Tak Chuen, Edmond in respect of the Manager. He is currently a Member of Executive Committee and General Manager, Corporate Business Development Department of CK Hutchison Holdings Limited (“CK Hutchison”). He also serves as a Non-Executive Director and a member of the Designated (Finance) Committee of ARA Asset Management (Prosperity) Limited (the manager of Prosperity REIT). Mr. Ma is also the Alternate Director to Mr. Lai Kai Ming, Dominic, Non-Executive Director Hutchison Telecommunications Hong Kong Holdings Limited (“HTHKH”). CK Hutchison, Prosperity REIT and HTHKH are listed on the Main Board of SEHK.

Mr. Ma has over 25 years of experience in banking, investment and portfolio management, real estate development and marketing, as well as managing IT related ventures and services. He is a member of the Hospitality Services Committee of Caritas Hong Kong. He is also a member of the President’s Circle, the Dean’s Advisory Board for the Faculty of Arts and the China Advisory Council for the Sauder School of Business of the University of British Columbia, Canada. He holds a Bachelor of Commerce degree in Finance and a Master of Arts degree in Global Business Management.

Yeung, Eirene - Non-Executive Director

Ms. Yeung, aged 54, has been a Director of the Manager since 2003. She is a member of the Disclosures Committee of the Manager. Ms. Yeung is also Member of Executive Committee and General Manager, Company Secretarial Department, and Company Secretary of Cheung Kong and the Company Secretary of CK Hutchison Holdings Limited, which is proposed to be listed in March 2015, CK Infrastructure and CK Life Sciences. She is also the Alternate Director to the Group Managing Director of CK Infrastructure. Ms. Yeung joined Cheung Kong in 1994. She advises the Board on corporate strategy, and currently heads the corporate legal and secretarial team that oversees listing, regulatory and origination compliance, and advises and drives mergers and acquisitions, property investments and acquisitions, securities placement and investments, private equity investment, fund investment, bond and note issue and other financing exercises, as well as derivative and swap transactions and investment in structured products. Cheung Kong, CK Infrastructure and CK Life Sciences are listed on the Main Board of SEHK.

Prior to joining Cheung Kong, Ms. Yeung was in private practice at the law firms of Messrs. Robert W.H. Wang & Co and Deacons for a total of 10 years from 1984 to 1994 where she handled a wide spectrum of corporate and commercial legal work. She has been a solicitor of the High Court of the Hong Kong Special Administrative Region (“HKSAR”) from 1986 and of the Senior Court of Judicature in England and Wales from 1990.

Ms. Yeung is a member of the Financial Reporting Council, a member of the SFC (HKEC Listing) Committee of the Securities and Futures Commission of Hong Kong, a member of the Listing Committee of the Main Board and Growth Enterprise Market of SEHK, a general committee member of The Chamber of Hong Kong Listed Companies, a member of the Advisory Board of the MBA Programme of The Chinese University of Hong Kong (“CUHK”) and a member of the Advisory Group on BBA-JD Programme of CUHK.

Ms. Yeung is a fellow member of The Hong Kong Institute of Directors, The Hong Kong Institute of Chartered Secretaries and The Institute of Chartered Secretaries and Administrators. She holds a Master of Science degree in Finance and a Master degree in Business Administration from CUHK, and a Bachelor degree in Laws from The University of Hong Kong.
 

Lim Hwee Chiang - Non-Executive Director

Mr. Lim, aged 58, has been a Director of the Manager since April 2003. He is also the Group Chief Executive Officer and an Executive Director of ARA, the holding company of the Manager. He has been a Director of ARA since its establishment. He is also a Director of ARA Trust Management (Suntec) Limited (the manager of Suntec REIT), ARA Asset Management (Prosperity) Limited (the manager of Prosperity REIT), ARA-CWT Trust Management (Cache) Limited (the manager of Cache Logistics Trust) and Hui Xian Asset Management Limited (the manager of Hui Xian REIT). ARA, Suntec REIT and Cache Logistics Trust are listed on the Main Board of SGX-ST and Prosperity REIT and Hui Xian REIT are listed on the Main Board of SEHK.

In addition, Mr. Lim is the Chairman of APM Property Management Pte. Ltd., Suntec Singapore International Convention & Exhibition Services Pte. Ltd., and the management council of The Management Corporation Strata Title Plan No. 2197 (Suntec City). Mr. Lim is an Independent Director of Teckwah Industrial Corporation Limited which is listed on the Main Board of SGXST. He is also a Director of Chinese Chamber Realty Private Limited, a Director of the Financial Board of the Singapore Chinese Chamber of Commerce, the Chairman of the Property Management Committee of the Singapore Chinese Chamber of Commerce and Industry, and a member of the Consultative Committee to the Department of Real Estate, National University of Singapore.

Mr. Lim has more than 30 years of experience in the real estate industry and has received many notable corporate awards. His recent accolades include the Ernst & Young Entrepreneur of the Year Singapore 2012, Ernst & Young Entrepreneur of the Year – Financial Services 2012 and the Outstanding CEO of the Year 2011 at the Singapore Business Awards 2012. Mr. Lim, along with the Board of Directors of ARA, is also a recipient of the prestigious Best Managed Board (Gold) Award at the Singapore Corporate Awards 2012.

Mr. Lim holds a Bachelor of Engineering (First Class Honours) in Mechanical Engineering, a Master of Science in Industrial Engineering, as well as a Diploma in Business Administration, each from the National University of Singapore.

Chiu Kwok Hung, Justin - Chairman and Non-Executive Director

Dr. Chiu, aged 64, has been the Chairman and a Director of the Manager since the Manager’s incorporation in 2003. He is also the Chairman and Non-executive Director of ARA Asset Management Limited (“ARA”), the holding company of the Manager and the Chairman of ARA Asset Management (Prosperity) Limited (the manager of Prosperity REIT). ARA is listed on the Main Board of Singapore Exchange Securities Trading Limited (“SGX-ST”) while Prosperity REIT is listed on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”). Dr. Chiu is also a Director of ARA Fund Management (Asia Dragon) Limited as the manager of the ARA Asia Dragon Fund. Dr. Chiu serves as a member of the Standing Committee of the 12th Shanghai Committee of Chinese People’s Political Consultative Conference of the People’s Republic of China, and is a Council Member and a Fellow of The Hong Kong Institute of Directors, a Fellow of Hong Kong Institute of Real Estate Administrators and a member of the Board of Governors of Hong Kong Baptist University Foundation.

Dr. Chiu has more than 30 years of international experience in real estate in Hong Kong and various countries and is one of the most respected professionals in the property industry in Asia. Dr. Chiu is an Executive Director and Member of Executive Committee of Cheung Kong (Holdings) Limited (“Cheung Kong”), a company listed on the Main Board of SEHK. He joined Cheung Kong in 1997 and has been an Executive Director since 2000, heading the real estate sales, marketing and property management teams. He is also an Executive Director of CK Hutchison Holdings Limited which is proposed to be listed in March 2015. Prior to joining Cheung Kong, Dr. Chiu was with Sino Land Company Limited from 1994 to 1997 and Hang Lung Development Company, Limited (now known as Hang Lung Group Limited) from 1979 to 1994 responsible for the leasing and property management in both companies. Both Sino Land Company Limited and Hang Lung Group Limited are listed on the Main Board of SEHK.

Dr. Chiu holds Bachelor degrees in Sociology and Economics from Trent University in Ontario, Canada, and was conferred with the degree of Doctor of Social Sciences, honoris causa by Hong Kong Baptist University and the degree of Doctor of Laws, honoris causa by Trent University, Canada. Dr. Chiu is the father of Ms. Chiu Yu, Justina, a Director of the Manager.

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COMPANY INFORMATION

Listed Date 04 Jul 2003

Address 6 Temasek Boulevard
Suntec Tower Four #16-02
Singapore 038986

Telephone (65) 6835-9232

Facsimile (65) 6835-9672

No. of Click Rate

51662