CapitaLand makes key changes

By Romesh Navaratnarajah: To further accelerate growth and sharpen its focus on key markets, property giant CapitaLand will realign and simplify its organisational structure into four main businesses: CapitaLand Singapore, CapitaLand China, CapitaMalls Asia (CMA) and The Ascott Limited (Ascott).

This also means key appointment changes in the group's leadership.

For instance, CapitaLand Singapore will be led by Wen Khai Meng who will relinquish his role as CEO of CapitaLand Financial Limited. Wong Heang Fine, CEO of CapitaLand Residential Singapore and Margaret Goh, CEO of Special Projects will report to him.

"The changes will significantly simplify the organisational structure to provide greater clarity and sharper focus for CapitaLand. This simplified structure will allow us to leverage and optimise our resources to enhance efficiency, economies of scale and shareholder returns," said President and Group CEO Lim Ming Yan.

"The objective of the change is to enhance CapitaLand's competitiveness. If there are overlaps in business functions, employees will be provided with alternative job options and the necessary training." Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories:Sysma marks foray into property development

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