Proposed Appointment of Alvin Cheng as CEO of Manager of EC World REIT
SINGAPORE, Apr, 21 2017 - (ACN Newswire) - EC World Asset Management Pte. Ltd., as manager of EC World Real Estate Investment Trust ("ECW") (the "Manager") is pleased to announce that it is proposing to appoint Mr. Alvin Cheng as the Executive Director and Chief Executive Officer ("CEO") of the Manager, pending approval from the Monetary Authority of Singapore. Prior to this proposed appointment, Mr. Cheng served as the Executive Director and Deputy CEO of the Manager.
Mr. Lai Hock Meng will be stepping down from the CEO position to pursue personal and other business interests, but he will remain on the Board of the Manager as a Director.
Said Mr. Zhang Guobiao, Chairman of the Board of the Manager, "Alvin has had a distinguished career in REIT management and corporate finance, and he brings with him deep experience and understanding of the REIT sector. We are delighted to have him leading the management team going forward."
"On behalf of the Board, we will also wish to express our sincere appreciation for Mr. Lai for his commitment, valuable contributions towards the success listing of ECW last year and his leadership since the IPO."
Mr. Cheng said on his proposed appointment, "during the past few months, I have got to further appreciate the potential of the ECW platform and the opportunities that lie ahead to create value for our unitholders. I am privileged to be given the opportunity to lead the Manager and I look forward to building upon the solid groundwork laid by Mr. Lai."
DBS Bank Ltd. was the sole financial adviser, global coordinator and issue manager for the initial public offering of EC World REIT. DBS Bank Ltd., Bank of China Limited, Singapore Branch, China International Capital Corporation (Singapore) Pte. Limited and Maybank Kim Eng Securities Pte. Ltd. were the joint bookrunners and underwriters for the initial public offering of EC World REIT.
About EC World REIT
Listed on 28 July 2016, EC World REIT is the first specialized logistics and e-commerce logistics REIT listed on Singapore Exchange Securities Trading Limited ("SGX-ST"). With its initial portfolio of six quality properties located in one of the largest e-commerce clusters in the Yangtze River Delta, EC World REIT offers investors unique exposure to the logistics and e-commerce sectors in Hangzhou, the People's Republic of China ("PRC").
EC World REIT's investment strategy is to invest principally, directly or indirectly, in a diversified portfolio of income-producing real estate which is used primarily for e-commerce, supply-chain management and logistics purposes, as well as real estate-related assets, with an initial geographical focus on the PRC. For more information, please visit: http://www.ecwreit.com/
EC World REIT is managed by EC World Asset Management Pte. Ltd., which is an indirect wholly-owned subsidiary of the Sponsor - Forchn Holdings Group Co., Ltd. Established in 1992 and headquartered in Shanghai, the Sponsor is a diversified enterprise group specialising in the real estate sector, industrial sector, e-commerce, logistics and finance. For more information, please visit www.forchn.com.cn
For queries, please contact:
Citigate Dewe Rogerson, i.MAGE Pte Ltd
Ms Chia Hui Kheng / Ms Deborah Lim
Office hours: +65 6534 5122
After office hours: +65 9690 38 41 / +65 9639 1722
Email: [email protected] / [email protected]
Corporate Investor Relations
EC World Asset Management Pte. Ltd.
Mr. Jinbo Li
Tel: +65 6221 9018
Email: [email protected]
The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by the Manager, DBS Trustee Limited (as trustee of EC World REIT), or any of their respective affiliates.
An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Unitholders have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of EC World REIT. The forecast financial performance of EC World REIT is not guaranteed. A potential investor is cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.
Source: EC World REIT
Sectors: Daily News
Copyright ©2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
More Latest Release >>
Eisai to Present Latest Data on Perampanel and Rufinamide at Annual American Academy of Neurology Meeting
Apr 20, 2018 18:50 JST
Mitsubishi Heavy Industries-Haier (Qingdao) Air-Conditioners Co., Ltd., Joint Venture with Haier
Apr 20, 2018 18:29 JST
DOCOMO Applauds xRAN Forum's Open Fronthaul Specification
Apr 20, 2018 18:09 JST
Fujitsu Upgrades RIKEN's AI Research Computer "RAIDEN;" Reaches Top Tier of Processing Performance in Japan
Apr 20, 2018 16:41 JST
DOCOMO Shops to Expand Smartphone Diagnostic Services
Apr 19, 2018 16:21 JST
Mitsubishi Shipbuilding Holds Christening Ceremony for Diamond Gas Orchid, Next-Generation LNG Carrier
Apr 19, 2018 15:32 JST
NEC Uses 5G to Contribute to Remote Medical Examination Trials
Apr 19, 2018 13:58 JST
ULVAC Announces the LS High-speed Series of Dry Vacuum Pump
Apr 19, 2018 13:00 JST
Eisai: World's First Bile Acid Transporter Inhibitor "GOOFICE 5mg Tablet" Launched in Japan
Apr 19, 2018 12:07 JST
Fujitsu and Asahi Shuzo Launch Trial to Brew Sake Using Predictive AI
Apr 19, 2018 11:23 JST
DENSO Obtains Stake in On The Road to Accelerate Development of Technology Used in MaaS
Apr 18, 2018 15:51 JST
SDK Establishes Subsidiary to Strengthen Battery Materials Business in China
Apr 18, 2018 13:30 JST
Hitachi Automotive Systems to Introduce Its Technology at the 2018 Beijing International Automotive Exhibition (Beijing Motor Show)
Apr 18, 2018 13:27 JST
MHPS Receives Order for 97 MW Steam Turbine Power Generation System for Pulp & Paper Mill in Indonesia
Apr 18, 2018 13:00 JST
Fujitsu Sets Out the 'Fujitsu Technology and Service Vision 2018'
Apr 18, 2018 12:21 JST
Hitachi Power Solutions Launches Knowledge Base Analytic Solution for Prescriptive Maintenance
Apr 18, 2018 08:30 JST
Lexus Design Award 2018 Grand Prix Winner Announced at Amazing 'LIMITLESS CO-EXISTENCE' Exhibition in Milan
Apr 17, 2018 13:27 JST
Fujitsu Launches New GS21 Mainframe Models Supporting Next-Generation Mission-Critical Systems
Apr 17, 2018 11:46 JST
Mitsubishi Motors Brings New EV and PHEV Vehicles to Da Nang City in Vietnam
Apr 16, 2018 17:37 JST
Fujitsu Develops Deep Learning-Based Object Detection Technology Capable of Training with Limited Data
Apr 16, 2018 14:23 JST