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- Before joining Sunway REIT Management Sdn Bhd—the manager of Sunway REIT—he was CEO of Sentral REIT Management Sdn Bhd, the manager of Sentral REIT.
KUALA LUMPUR (Dec 1): Sunway Real Estate Investment Trust (KL:SUNREIT) has appointed Derek Teh Wan Wei as its new chief executive officer (CEO), effective Monday.
Teh, 47, succeeds Clement Chen Kok Peng, who resigned mid-June to take up the chief financial officer role at Sunway Bhd (KL:SUNWAY).
According to the REIT’s filing, Teh currently serves as vice-chairman of the Malaysian REIT Managers Association (MRMA) and has over 20 years of experience in the property sector.
Before joining Sunway REIT Management Sdn Bhd—the manager of Sunway REIT—he was CEO of Sentral REIT Management Sdn Bhd, the manager of Sentral REIT (KL:SENTRAL).
He previously held senior roles at Malaysian Resources Corporation Bhd (KL:MRCB), including vice-president of properties, where he oversaw commercial, residential and mixed development projects.
In a separate filing, Sunway REIT said Ng Bee Lien has been redesignated as chief financial officer. Ng had been acting CEO since June following Chen’s departure.
Shares of Sunway REIT closed up one sen or 0.44% at RM2.27 on Monday, giving the trust a market capitalisation of RM7.77 billion.
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