CapitaLand Ascendas REIT Announces Changes to Board and Committee Composition

Key Highlights

• Retirement of Non-Executive Non-Independent Director: Mr Vinamra Srivastava will retire as Non-Executive Non-Independent Director and Member of the Investment Committee, effective 3 December 2025.
• Board and Committees Updated: The Board and all Board Committee compositions will be updated following Mr Srivastava’s retirement.
• Continuity and Experience Maintained: The Board will continue to be chaired by Dr Beh Swan Gin, with CEO Mr William Tay Wee Leong as Executive Non-Independent Director. All other Board members remain unchanged.
• Potential Impact: The departure of a Non-Executive Non-Independent Director, particularly one involved in the Investment Committee, could signal a shift in investment strategy or internal governance, which may be relevant for shareholders tracking leadership stability and decision-making processes.

Details of Board and Committee Changes

CapitaLand Ascendas REIT Management Limited, the manager of CapitaLand Ascendas REIT, has announced that Mr Vinamra Srivastava will retire from his roles as Non-Executive Non-Independent Director and Member of the Investment Committee, effective 3 December 2025. This change is part of planned board rotations and is officially disclosed in compliance with SGX Listing Rules.

Board of Directors (From 3 December 2025)

• Dr Beh Swan Gin – Chairman, Non-Executive Independent Director
• Mr William Tay Wee Leong – Chief Executive Officer, Executive Non-Independent Director
• Mr Daniel Cuthbert Ee Hock Huat – Non-Executive Independent Director
• Mr Chinniah Kunnasagaran – Non-Executive Independent Director
• Ms Ong Lee Keang Maureen – Non-Executive Independent Director
• Ms Choo Oi Yee – Non-Executive Independent Director
• Mr Manohar Khiatani – Non-Executive Non-Independent Director

Audit and Risk Committee

• Chairman: Mr Daniel Cuthbert Ee Hock Huat
• Members: Mr Chinniah Kunnasagaran, Ms Ong Lee Keang Maureen

Investment Committee

• Chairman: Mr Manohar Khiatani
• Members: Dr Beh Swan Gin, Mr William Tay Wee Leong, Mr Chinniah Kunnasagaran, Ms Choo Oi Yee

Nominating and Remuneration Committee

• Chairman: Dr Beh Swan Gin
• Members: Mr Daniel Cuthbert Ee Hock Huat, Mr Manohar Khiatani

What Shareholders Should Note

• The retirement of Mr Vinamra Srivastava as a Non-Executive Non-Independent Director and Investment Committee member could be material for investors. As a member of the Investment Committee, Mr Srivastava would have played a role in overseeing and guiding investment decisions, which are crucial to CapitaLand Ascendas REIT’s growth strategy and portfolio management.
• The Board and its committees remain well-staffed with experienced individuals, suggesting continuity in leadership and governance. There are no changes to the Nominating and Remuneration Committee, indicating stability in board nomination and compensation practices.
• There is no indication of any immediate operational or strategic changes resulting from this retirement, but investors should monitor future announcements for any shifts in investment policy or significant asset allocation changes as a result of the refreshed committee composition.
• There is no mention of a direct replacement for Mr Srivastava, which means the Board will operate with one less Non-Executive Non-Independent Director, possibly affecting the balance of perspectives within the Investment Committee.

Potential Price Sensitivity

While the retirement of a single board member may not immediately impact share prices, any change in the composition of an Investment Committee can be significant for a REIT. The Investment Committee plays a critical role in guiding acquisition, divestment, and portfolio management strategies, all of which are key drivers of REIT performance and investor returns. Shareholders should be attentive to any future disclosures regarding the appointment of new directors or changes in strategic direction following this announcement.

Conclusion

CapitaLand Ascendas REIT’s latest announcement signals a planned transition in its board and committees, maintaining overall board stability but with the notable departure of a key Non-Executive Non-Independent Director. Investors should stay informed on future appointments and any potential strategic implications, as these changes could influence the REIT’s investment approach and, consequently, its market valuation.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult their financial advisors or conduct independent research before making any investment decisions.

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