The Ascott Limited (Ascott) appoints Mr. Tan Boon Khai as Regional General Manager to drive growth in Singapore and Malaysia.
Kuala Lumpur, 28 April 2011 – CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has appointed Mr Tan Boon Khai as Regional General Manager for Singapore and Malaysia. He is responsible for driving the company's growth and ensuring operational effectiveness to enhance Ascott's presence in both markets.
Mr Alfred Ong, Ascott's Managing Director for Southeast Asia & Australia, said: "Singapore is a major contributor to the business performance of The Ascott Limited and our Singapore-listed REIT, Ascott Residence Trust. Our Malaysia properties also continue to lead in market performance. Adding Boon Khai to the team will further strengthen Ascott's management bench strength. He will also position Ascott to tap growth opportunities in Singapore and Malaysia as we work towards achieving our target of 14,000 apartment units in Southeast Asia & Australia by 2015."Mr Tan, who was Senior Vice President in the Office of President at CapitaLand, has covered various work areas including business development, operations as well as the formalisation and standardisation of business systems and processes within the CapitaLand Group. Mr Tan has more than 13 years of work experience in both private sector and government service.
Mr Tan said: "Singapore and Malaysia are key growth markets for Ascott and both continue to offer tremendous potential. Demand for internationalclass serviced residence remains strong as foreign investments and tourist arrivals are increasing in these markets. I am excited to work with Ascott's dynamic and passionate team to strengthen the company's presence in Singapore and Malaysia."
Ascott currently operates more than 900 apartment units in eight properties in Singapore. In Malaysia, Ascott is the largest international serviced residence owner-operator with over 1,300 apartment units across 10 properties. This includes three properties which are scheduled to open in the next three years - Citadines Uplands Kuching (opening in 2012), Ascott Sentral Kuala Lumpur (2013) and Citadines D'Pulze Cyberjaya (2014).