• In a bourse filing on Tuesday (May 30), Axis REIT said its executive deputy chairman Datuk Abas Carl Gunnar Abdullah, 64, was promoted to executive chairman effective immediately, while its non-independent director Stephen Tew Peng Hwee@Teoh Peng Hwee, 62, will take over the role of deputy chairman.

KUALA LUMPUR (May 30): Axis Real Estate Investment Trust (Axis REIT) has made a slew of board changes as part of the trust's succession plan.

In a bourse filing on Tuesday (May 30), Axis REIT said its executive deputy chairman Datuk Abas Carl Gunnar Abdullah, 64, was promoted to executive chairman effective immediately, while its non-independent director Stephen Tew Peng Hwee@Teoh Peng Hwee, 62, will take over the role of deputy chairman.

Axis REIT's 2022 annual report showed that Abas Carl Gunnar, a Norwegian, was appointed to the board on March 15, 2005. Tew joined the board on Oct 25, 2004.

The trust also announced the departure of three independent and non-executive directors — Tunku Shahabuddin Burhanuddin, 88, Datuk Seri Fateh Iskandar Mohamed Mansor, 55, and Mohd Sharif Yusof, 84 — who are stepping down after serving the board of Axis REIT for more than 12 years.

Axis REIT units closed unchanged at RM1.84 on Tuesday, giving the trust a market capitalisation of RM3.2 billion.

SHARE
SPONSORED CONTENT
Step inside the landscapes of S P Setia townships with the EdgeProp-S P Setia photo contest

A photograph may capture a beautiful park, a tranquil lake or an iconic bridge. But behind every compelling image lies something far more enduring — the way a place makes people feel.

read more
RELATED POSTS
  1. Axis REIT's latest purchase earnings-accretive, price tag reasonable — analysts
  2. Axis REIT to buy City‑Link distribution centre in Bandar Saujana Putra for RM128 mil
  3. The Gen Z dilemma: spend, save, or invest?