Just days after announcing the impending departure of its CEO, AIMS APAC REIT has now disclosed that its finance chief has also quit.
The REIT announced on 8 September that its Koh Wee Lih, the CEO of its manager since 2014, has resigned.
Replacing him from 29 November will be Russell Ng, AIMS APAC REIT’s Head of Investor Relations, Investments & Partnerships.
AIMS APAC REIT subsequently announced on 10 September that Stella Yeak Shuk Phin, the head of finance at its manager, has also tendered her resignation to “pursue other interests”.
She was appointed to this position in May 2017 and was responsible for the REIT’s capital management, compliance, accounting and reporting matters.
In her place, the REIT’s manager will appoint Lim Joo Lee as its chief financial officer from 23 October.
Prior to joining AIMS APAC REIT, Lim held senior finance manager roles with Mapletree North Asia Commercial Trust’s manager and KPMG LLP in Singapore and the UK.
The unit price of AIMS APAC REIT has fallen by about 11.25% from 7 September to SGD1.42 at the close of the last trading session.
Its distribution yield is presently 6.34% according to data compiled on the Singapore REITs table.