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SG CEO shake-up at Ascott

Property Here - Tuesday, April 30, 2013

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By Shabnam Muzammil:

CapitaLand has announced that its wholly-owned serviced residence business, The Ascott Limited (Ascott), has appointed Lee Chee Koon (pictured) as its CEO with effect from 1 June.

He will replace Chong Kee Hiong who is leaving the firm at the end of May to pursue other opportunities. Chong's departure is a surprise as it has only been a year since he took on the top post at Ascott, reported The Business Times.

Responding, Lim Ming Yan, President and Group CEO of CapitaLand, said: “We thank Kee Hiong for his contributions to CapitaLand. The decision to leave is not an easy one for him and for us but we fully respect Kee Hiong’s decision to pursue the next stage of his career.”

He added that Chong’s 12 years of service in the company spurred the growth of Ascott as well as Ascott Residence Trust.

On Lee's new appointment, Lim said: “With Chee Koon’s extensive experience in strategy development and his wealth of knowledge in operations, we are confident that he will lead Ascott to further strengthen its position as a world leader in the serviced residence industry.”

Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email