CapitaLand appoints Lim Ming Yan as President, CEO

Mr Lim will take over starting 1 January.

CapitaLand Limited announced the appointment of Mr Lim Ming Yan as President and Chief Executive Officer (CEO) of CapitaLand Group with effect from 1 January 2013. He will take over from Mr Liew Mun Leong who will relinquish his appointment as Group President and CEO from 1 January 2013. Mr Lim will also be appointed as Director of CapitaLand on 1 January 2013.

Mr Lim is currently CapitaLand's Chief Operating Officer (COO), a position he has held since 6 May 2011. He is also the Deputy Chairman of CapitaLand China Executive Committee. He was CEO of CapitaLand China Holdings from 2000 to 2009 where he grew CapitaLand into a leading foreign real estate developer in China. He then returned to Singapore to helm CapitaLand’s serviced residence business, The Ascott Limited (Ascott).

As Ascott CEO, he successfully operated and implemented projects in Southeast Asia, China, India, the Middle East and Europe. On 6 February 2012, he relinquished his position at Ascott to focus on his role as CapitaLand's COO.

As the new CEO is a senior member of the management team and therefore is familiar with the business of the company, Mr Liew will be stepping down from 1 January 2013 to hand over the leadership of the Group to Mr Lim. Mr Liew will also ensure a smooth transition. He will stay on as a Director of CapitaLand until its next Annual General Meeting scheduled on 26 April 2013 and remain in the employment of CapitaLand until his last day of service on 27 June 2013.

Mr Ng Kee Choe, Chairman of CapitaLand Board, said: “It is my pleasure to announce that Ming Yan will succeed Mun Leong as CapitaLand's Group President and CEO. The Board unanimously chose Ming Yan after an extensive search where both internal and external candidates were reviewed.

A tested and proven member of CapitaLand's management team for more than a decade, Ming Yan will provide continuity and leadership to advance the Group’s business and growth. I would like to thank Mun Leong for leading the Group for the last 16 years since taking over the helm at Pidemco Land which later merged with DBS Land to form CapitaLand in 2000.

He has nurtured and led CapitaLand to become one of the largest real estate group in Asia. He has built a strong foundation to underpin the future well-being of the Group. I am confident that Ming Yan will continue the impressive progress made in the last 16 years during Mun Leong’s tenure.”