Capitaland Integrated Commercial Trust Appoints New Ceo May 1
CapitaLand Integrated Commercial Trust (CICT) has announced changes in its board composition with the appointment of Tan Choon Siang as the new CEO, effective from May 1, 2025. The current CEO, Tony Tan, will take on the role of Chief Corporate Officer (CCO) at CapitaLand Development.
Tan Choon Siang, who currently serves as the deputy CEO of CICT, will also be appointed as an executive non-independent director and a member of the Executive Committee (EC). Meanwhile, Tony Tan will step down from his position as an executive non-independent director and member of the EC, to take up his new role as CCO of CapitaLand Development.
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Tony Tan has been the CEO and executive director of CICT since 2017. Under his leadership, CICT successfully completed the merger between CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020, creating Singapore’s largest listed REIT with a market capitalization of $15.5 billion.
The incoming CEO, Tan Choon Siang, brings with him a wealth of experience. He has previously served as the manager of CapitaLand Malaysia Trust since 2022 and as the chief financial officer of the manager of CapitaLand India Trust. Tan also has a background in corporate finance and treasury, having been the Head of Corporate Finance & Treasury at Ascendas-Singbridge before its merger with CapitaLand in 2019.
The changes in the board composition are seen as a positive move for CICT, as it brings in fresh leadership to continue driving the company’s growth and success. The recent sale of 21 Collyer Quay for $688 million is also a testament to CICT’s strong performance in the market. With Tan Choon Siang taking on the role of CEO, many are optimistic about CICT’s future prospects as a major player in the commercial real estate sector.