Keppel DC REIT Management appoints a new Independent Director
Keppel DC REIT Management Pte. Ltd., as manager of Keppel DC REIT (the “Manager”), is pleased to announce that Ms Yeo Siew Eng (楊秀瑩), 64, will be appointed as an Independent Director of the Manager with effect from 1 November 2022.
Ms Christina Tan, CEO of Keppel Capital and Chairman of the Manager, said, “The Board looks forward to working with Siew Eng, who brings with her a wealth of experience and depth of knowledge across a wide range of industries over the span of her career. She will strengthen the competencies of the Board as we continue to drive the performance of Keppel DC REIT to deliver greater value for our stakeholders.”
Ms Yeo has more than 30 years of experience in professional practice and in finance roles in commercial organisations. She was a partner in Deloitte & Touché LLP until her retirement in 2018 and was the head of its real estate practice. Ms Yeo led audits of clients engaged in infrastructure projects, property development and investment, and related technical services. She also led audits in other segments of the economy including manufacturing, marine transportation, oil and derivative trading, hospitality, retail, and channel distribution. Some of these engagements involved initial public offerings of equity and debt securities.
Ms Yeo is a director in Transit Link Pte Ltd (subsidiary of the Land Transport Authority in Singapore) and in companies listed on the Singapore Exchange - Venture Corporation Limited and Nam Lee Pressed Metal Industries Limited.
Ms Yeo holds a Bachelor of Accountancy degree from the University of Singapore (now part of the National University of Singapore). She is a Fellow of the Institute of Singapore Chartered Accountants and a member of Singapore Institute of Directors.
Compositions of the Board and the Board Committees
Following the abovementioned appointment, the Board of the Manager will comprise eight Directors, of whom six are Independent Directors. The compositions of the Board and the Board committees with effect from 1 November 2022 will be as follows:
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About Keppel DC REIT (www.keppeldcreit.com)
Keppel DC REIT was listed on the Singapore Exchange on 12 December 2014 as the first pure-play data centre REIT in Asia.
Keppel DC REIT’s investment strategy is to principally invest, directly or indirectly, in a diversified portfolio of income-producing real estate assets which are used primarily for data centre purposes, as well as real estate and assets necessary to support the digital economy.
Keppel DC REIT’s investments comprise an optimal mix of colocation, fully-fitted and shell and core assets, as well as network assets through its investments in debt securities, thereby reinforcing the diversity and resiliency of its portfolio.
Keppel DC REIT is sponsored by Keppel Telecommunications & Transportation Ltd (Keppel T&T), a wholly-owned subsidiary of Keppel Corporation Limited. It is managed by Keppel DC REIT Management Pte. Ltd. (the Manager), a wholly-owned subsidiary of Keppel Capital Holdings Pte. Ltd. (Keppel Capital). Keppel Capital is a premier asset manager in Asia with a diversified portfolio in real estate, infrastructure, data centres and alternative assets in key global markets through its listed REITs and Trust, as well as private funds. The Keppel Group, through Keppel T&T and the private data centre funds has currently over $2 billion of data centre assets under development.
The Manager’s key objectives are to provide Keppel DC REIT’s Unitholders with regular and stable distributions, as well as achieve long-term growth through at least 90% of its AUM in data centre investments, while maintaining an optimal capital structure.