CapitaLand Malaysia REIT Management Sdn Bhd (CMRM), the manager of CapitaLand Malaysia Trust has appointed Yong Su-Lin as chief executive officer, designate (CEO designate) of the company effective Jan 2, 2025.
The appointment is part of the leadership succession plan for CMRM, it said.
"Meanwhile, Yong will support CMRM's current CEO Tan Choon Siang in the execution of strategy for CLMT and the day-to-day operations of CLMT’s business. Upon obtaining clearance from the Securities Commission Malaysia regarding Yong’s appointment, a further announcement will be made on the leadership succession plan", the trust said in a filing with Bursa Malaysia.
According to CLMT, Yong has more than 28 years of experience in banking including project financing, consultancy and real estate industry including fund management for real estate. She is currently the managing director for Malaysia and China and was an interim chief financial officer for Asia at Lendlease Group.
Before joining Lendlease Group, she was the CEO of Sentral REIT Management Sdn Bhd, the manager of Sentral Real Estate Investment Trust (REIT), starting in 2015. During her tenure, she led the successful completion of Malaysia's first REIT merger and grew the business and portfolio by 170%, expanding from RM820 million to RM2.2 billion, with a market capitalization of RM1 billion.
She was also formerly interim CEO of Quill Capita Management Sdn Bhd.
CLMT units closed down half a sen or 0.74% at 67.5 sen on, giving it a market cap of RM1.94 billion.