In a move towards succession planning, the Board of Directors of Keppel Corporation Limited ("Keppel" / the "Company") announced that Mr Teo Soon Hoe will relinquish his role as Group Finance Director with effect from 1 January 2012. Mr Teo, 62, will continue to serve as Senior Executive Director and remain on the Keppel Board. He will remain as Chairman on the boards of Keppel Telecommunications & Transportation Ltd and M1 Limited. He will assist the CEO, Mr Choo Chiau Beng to strategize and grow Keppel's competencies in Sustainable Development, and oversee Keppel's investment portfolio and special projects such as the Sino-Singapore Tianjin Eco-City. The Board also announced the appointment of Mr Loh Chin Hua, Managing Director of Keppel Land's real estate fund management arm, Alpha Investment Partners Limited ("Alpha"), as Chief Financial Officer with effect from 1 January 2012.
CEO, Mr Choo Chiau Beng, said "These appointments are part of the leadership renewal in the Group. In his 37 years with Keppel, Soon Hoe has been a key member of the Group's senior management, providing vital strategic and financial counsel to drive business growth in the Group. He will continue to contribute to the Group's sustainable value creation." On the appointment of the CFO, Mr Choo said, "We considered a number of candidates and chose the one most suitable for the CFO role. I am pleased that Chin Hua has agreed to step up and welcome him to Keppel Corporation reporting directly to me. I am confident that he will bring good insights and play a major role in charting the Group's growth in the coming years." Mr Teo said, "Chin Hua has done a sterling job in growing Alpha's assets under management from US$100 million in early 2003 to US$7.3 billion as at end June 2011. He has international management experience and a strong track record in investments, fund management and finance which will put him in good stead for his new role." Mr Loh will be responsible for the Group's financial functions, including managing capital, finance, treasury and tax, as well as legal matters. He will support the CEO in the Group's strategic business planning process and participate in all major investment initiatives and decisions, providing sound financing options and optimal structuring of major projects, apart from building and enhancing shareholder and investor relations. Mr Loh was appointed as director to the boards of Keppel Land China Limited and Keppel Offshore & Marine Ltd last year. He has over 24 years of experience in real estate investment and fund management, spanning the US, Europe and Asia. Prior to joining Alpha in September 2002, Mr Loh was Managing Director at Prudential Investment Management Inc (Prudential) and led its Asian real estate fund management business. During his eight years there, he was responsible for overseeing all investment and asset management activities for the real estate funds managed out of Asia, and grew Prudential into one of Asia's most active and established real estate fund management companies. Mr Loh started his career in real estate investment with the Government of Singapore Investment Corporation ("GIC"). During his 10 years with GIC, he held appointments in the San Francisco office and was head of the European real estate group in London before returning to head the Asian real estate group. He will continue to serve as Chairman of Alpha. Ms Christina Tan and Mr Desmond Tang will be appointed as Managing Directors and Co-Heads for Alpha on 1 January 2012. Ms Tan is currently Alpha's Executive Director and Chief Financial Officer whilst Mr Tang serves as Executive Director with responsibilities for both acquisitions and asset management. Both have been with Alpha since its inception in 2003.