I would also like to take this opportunity to express our
gratitude to Mr Henry Tan, who has stepped down as
Audit Committee Chairman and independent director
after six years of dedicated service. His invaluable advice
and guidance is deeply appreciated by my fellow Board
members as well as senior management.
We are pleased to welcome Mr Chia Nam Toon as the new
CEO of AFM with effect from 1st April 2016. Nam Toon has
strong strategic business and financial expertise acquired
over the many years in his senior leadership positions. He
has made significant contributions to the achievements of
the Ascendas-Singbridge Group over the past 10 years,
as its Group Chief Financial Officer. We look forward to
working with Nam Toon in taking A-REIT through its next
phase of growth.
We warmly welcome Mr Miguel Ko to our Board as Vice
Chairman and Non-Executive Director of AFM. Miguel is
currently the Group Chief Executive Officer of the Ascendas-
Singbridge group. His appointment will further strengthen
the working relationship of A-REIT and the Ascendas-
Singbridge Group. His extensive personal network in the
Asia-Pacific region will facilitate greater access to new
opportunities, an asset to the Board. Miguel’s vast corporate
leadership experience will also help AFM to develop and
strengthen the AFM’s leadership team.
We also warmly welcome three new independent directors,
Mr Wong Yew Meng, Ms Chong Chiet Ping and Ms Lim Sau
Hoong. Yew Meng was an audit partner with PWC, Chiet
Ping a very experienced IT person who used to work for
HP, and Sau Hoong, a successful entrepreneur in the media
industry. Their diverse background and expertise will
strengthen the collective wisdom of the Board as A-REIT
seeks to grow within and beyond Singapore.
With the changes, the Board will consist of 10 members, of
which 6 are independent directors.
THE FUTURE
We would continue to build on the strong foundation of
a diversified and high-quality portfolio in Singapore and
Australia.
Although a tougher operating environment is anticipated
on the back of growing competition and a softer global
economy, we are well prepared to take on the challenges
and grow our business through enhanced synergies and
cohesiveness with the enlarged Ascendas-Singbridge
Group as this will open up more growth opportunities with
expanded capabilities and resources for A-REIT.
The objective of A-REIT remains unchanged: to ensure
a steady stream of income and sustainable growth for
Unitholders in the longer term.
To continue to stand out, A-REIT plans to 1) provide better
products by acquiring high-grade properties prudently and
undertaking asset enhancements, 2) increase the reach and
value-add to existing and new customers, 3) create a culture
of outstanding customer service by with innovative services
and offerings, 4) enhancing our brand, 5) extract greater
value from our properties by capital recycling opportunities,
and 6) improve and maintain a healthy capital structure.
We would also continue to challenge and develop our
leadership team to be the best in our sector.
A-REIT is well-positioned and prepared for the challenges
ahead.
ACKNOWLEDGMENTS
I would like to thank all our members from the Manager and
Property Manager, whose commitment and passion are one
of the key foundations of A-REIT’s success.
Finally, on behalf of the Board and the Manager, I wish
to thank our customers, business partners and you, our
Unitholders, for the strong support and loyalty over the
years. The Board is confident that A-REIT is well-prepared
and in a strong position to continue to grow and create
value for you, our Unitholders, for many years to come.
KOH SOO KEONG
Chairman
25 May 2016
.11
A-REIT ANNUAL REPORT
2015/2016
