Keppel REIT Management Limited, the Manager of Keppel REIT, is pleased to announce the appointment of Mr Alan Rupert Nisbet as an independent non-executive director with effect from 1 October 2017.
Mr Nisbet, 66, is the Principal of Kanni Advisory, a consultancy specialising in financial and business advisory services. He retired from Deloitte in 2011 after a successful career which spanned 38 years.
Prior to his retirement, Mr Nisbet was the leader of Audit and Assurance Services for Deloitte Southeast Asia and Singapore, where he was responsible for overall audit and assurance operations, business development and quality control. He also established the Deloitte Enterprise Risk Service function in Singapore and led that practice division for four years, where he provided corporate governance, risk management, internal audit and IT security services to clients. Mr Nisbet has vast experience working in the United States and the Asia Pacific region, including Australia, across multiple industries, including real estate, marine and shipping, aviation and transportation services, manufacturing as well as retail/consumer products and services.
Mrs Penny Goh (李育嬋), Chairman of Keppel REIT Management, said, "We are pleased to have Alan join our Board. His extensive experience in the field of audit and risk management, coupled with his deep financial knowledge and accounting experience, will contribute to our drive for strong governance and transparency as we work on delivering sustainable long term value to Unitholders."
Mr Nisbet is a Board Member and Audit Committee Chairman of several private and public companies in Singapore including Standard Chartered Bank (Singapore) Limited, Halcyon Agri Corporation Limited as well as Ascendas Property Fund Trustee Pte Ltd, the Trustee-Manager of Ascendas India Trust. Mr Nisbet is also on the Boards of KrisEnergy Limited as well as the Accounting and Corporate Regulatory Authority of Singapore (ACRA), where he is a member of the Audit Committee. He was also the Chairman of the Audit Committee of Ascendas Pte Ltd prior to its merger with Singbridge Group. He served on the Public Accounting Oversight Committee's Practice Monitoring Sub-Committee at ACRA, which is responsible for the evaluation of the professional quality of public accountants in Singapore.
Mr Nisbet is a Fellow of the Institute of Singapore Chartered Accountants and was formerly a Practising Associate of the Institute of Chartered Accountants in Australia.
Following the abovementioned appointment, the Board of Keppel REIT Management will comprise eight directors, of whom five are independent directors.
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For more information, please contact:
Ms Eileen Tan
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413-6430 / (65) 9770-2546
Ms Grace Chia
Investor Relations & Communications
Tel: (65) 6803-1739
About Keppel REIT (www.keppelreit.com)
Keppel REIT was listed by way of an introduction on 28 April 2006. Keppel REIT is one of Asia's leading REITs with the youngest and largest portfolio of premium Grade A commercial assets in Singapore's prime business and financial districts.
Keppel REIT's objective is to generate stable income and long-term growth for Unitholders by owning and investing in a portfolio of quality income-producing commercial real estate and real estate-related assets in Singapore and pan-Asia.
As at 31 December 2016, Keppel REIT had assets under management of approximately $8.4 billion comprising interests in eight premium office assets with 11 office towers strategically located in the central business districts of Singapore, as well as key Australian cities of Sydney, Melbourne, Brisbane and Perth.
In Singapore, the assets are Ocean Financial Centre (99.9% interest), Marina Bay Financial Centre (comprising office Towers 1, 2 and 3 and the subterranean mall, Marina Bay Link Mall) (one-third interest), One Raffles Quay (one-third interest) and Bugis Junction Towers (100% interest).
In Australia, the assets are 8 Chifley Square (50% interest) in Sydney, 8 Exhibition Street (50% interest in the office building and two retail units, as well as a 100% interest in the three adjoining retail units) and a premium office tower to be developed at 311 Spencer Street (50% interest) in Melbourne, 275 George Street in Brisbane (50% interest), as well as the David Malcolm Justice Centre in Perth (50% interest).
Keppel REIT is sponsored by Keppel Land Limited, one of Asia's leading property companies. It is managed by Keppel REIT Management Limited, a wholly-owned subsidiary of Keppel Capital Holdings Pte. Ltd.
(Keppel Capital). Keppel Capital is a premier asset manager in Asia with assets under management of approximately $25 billion in real estate, infrastructure and data centre properties in key global markets.
The past performance of Keppel REIT is not necessarily indicative of its future performance. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking" statements due to a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments or shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes, and the continued availability of financing in the amounts and terms necessary to support future business.
Prospective investors and unitholders of Keppel REIT ("Unitholders") are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of Keppel REIT Management Limited, as manager of Keppel REIT (the "Manager") on future events. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information, or opinions contained in this presentation. None of the Manager, the trustee of Keppel REIT or any of their respective advisors, representatives or agents shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. The value of units in Keppel REIT ("Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.
Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units.