Property developer GuocoLand has internally appointed Choong Yee How, 59, as its new CEO and President with effect from 1 September, revealed the company in a recent SGX filing.
It is confident that Choong has the expertise and capabilities needed for the job as he has more than 30 years of experience in the financial sector.
Presently the President and CEO at Hong Leong Finance Group (HLFG) since 2005, he previously held the same position at Citibank Savings Inc in the Philippines.
Since taking up the role at HLFG, he has “played a central role in board stewardship and group leadership. He had consistently created sustainable prime value, built stronger franchises in core businesses, maximised the value of the subsidiaries, sought new corporate investment opportunities, expanded the base for sustainable growth and scalability, attained consistent earnings growth through organic growth, mergers and acquisitions as well as strategic partnerships,” said a company statement.
“In the 10 years with HLFG, Mr Choong had gained in-depth insight into its policies, embedded business values and culture, strategies, visions, credit appetite and enterprise risk management. This bodes well for his new leadership role in GLL,” it added.
Choong replaces the current President Chia Boon Kuah, who will officially relinquish his post on 31 August. The resignation of the 58-year-old property veteran was unexpected due to his short stint with the group since February 2014, reported AsiaOne.
Another two company executives resigned in April, namely P. Y. Wong and Vito Koh, 52, who stepped down as Managing Director of GuocoLand China.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
