Singapore Markets closed

Ascendas CEO to step down

By Shabnam Muzammil

Singapore-based Ascendas Group announced that its President and CEO Chong Siak Ching (pictured) has resigned to assume the role of CEO of the National Art Gallery.

Commencing on April 1, she will also head the cluster of three visual arts institutions under the Ministry of Culture, Community and Youth – namely the National Art Gallery, Singapore Art Museum and the Singapore Tyler Print Institute.

In a statement, the Ascendas Board said: "We have reluctantly accepted Siak Ching's resignation. Our loss is the gain of the community at large, as she will now be able to apply her exceptional talent, passion and experience to a different, broader stage."

Under Chong's leadership, Ascendas has grown significantly in Asia, with operations today in 10 countries and 33 cities. The company's assets have also ballooned from less than S$1.8 billion in 2001 to the current S$14 billion. For her efforts, she was awarded the "Outstanding CEO of the Year" at the Singapore Business Awards 2009.

"My tenure of 21 years in the JTC Group, and in particular, the 11 years in Ascendas from its inception, has been an extremely memorable, exciting and fulfilling journey, said Chong. "I have had the good fortune of having the support of a very entrusting Board and an extremely strong and cohesive leadership team."

"I know that I leave Ascendas in very good hands. At the same time, I have always had a deep passion for arts and the community and look forward to contribute to the further development of the arts scene in my new role in the MCCY family."

Meanwhile, Ascendas is in the process of naming Chong's successor.Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sgRelated Stories:Asia Pacific gets most extensive property index a-iTrust reports strong balance sheets for end-2012DBS: Population growth to benefit construction sector

More from PropertyGuru:
Asia Pacific gets most extensive property index
a-iTrust reports strong balance sheets for end-2012
DBS: Population growth to benefit construction sector
Singapore cooling: SSD unlikely to affect legitimate industrialists