Keppel Infrastructure Fund Management Pte Ltd (KIFM), as Trustee-Manager of Keppel Infrastructure Trust (KIT), is pleased to announce, as part of the Board’s renewal, the appointment of Mr Ng Kin Sze (黃金賜), 67, as an independent director on the Board of KIFM, with effect from 1 June 2023. He will also be appointed as a member of the Environmental, Social and Governance (ESG) Committee and the Investment Committee.
Mr Ng spent over 26 years in GIC and held several senior management positions overseeing investment, strategy, portfolio management and risk management. He retired from GIC in 2013 and was consultant to GIC from 2013 to 2016. Mr Ng is also a member of the Investment Committee for Keppel Asia Infrastructure Fund. Mr Ng is currently a Private Equity Advisor to Fullerton Fund Management Company Ltd.
He holds a Bachelor of Engineering (Civil) degree from the University of Auckland, a Master of Science (Civil Engineering) from the National University of Singapore and a Master of Business Administration from INSEAD.
As part of the Board’s renewal, Mr Kunnasagaran Chinniah will be stepping down from the Board of KIFM on 30 June 2023 and will cease to be the Chairman of the ESG Committee and a member of the Investment Committee. Ms Susan Chong Suk Shien (钟淑娴), an independent director, will concurrently be appointed as the Chairman of the Board ESG Committee in place of Mr Chinniah with effect from 30 June 2023.
Mr Daniel Ee (余福发), Chairman of KIFM, said, “On behalf of the Board, I am pleased to welcome Kin Sze as he brings with him decades of experience in investment, strategy, risk management and portfolio management, which are pivotal in pursuing opportunities to optimise KIT’s portfolio. I look forward to working closely with Kin Sze as the Board steers KIT to deliver sustainable growth and value to our unitholders.
“I would also like to express our deepest appreciation to Kunna for his wise counsel and many years of contribution since KIT’s formation that have been invaluable to the Board and Management as we charted KIT’s growth. His insightful comments have helped to sharpen our investment approach.”
Compositions of the Board and the Board Committees
Following the abovementioned changes, with effect from 30 June 2023. the Board of KIFM will comprise six Directors, of whom five are Independent Directors and two are female directors. The compositions of the Board and the Board committees with effect from 30 June 2023 will be as follows:
About Keppel Infrastructure Trust
Keppel Infrastructure Trust (KIT) is a diversified business trust listed on the Singapore Exchange with approximately $7.3 billion in assets under management for FY 2022. Its goal is to deliver sustainable and growing returns to Unitholders, through a combination of recurring distributions and capital growth.
KIT's portfolio of strategic infrastructure businesses and assets provide essential products and services to a wide array of customers including government agencies, multinational corporations, commercial and industrial enterprises as well as retail consumers.
The Trustee-Manager for KIT is Keppel Infrastructure Fund Management Pte. Ltd., a wholly-owned subsidiary of Keppel Capital Holdings Pte. Ltd., a premier asset manager with a diversified portfolio in real estate, infrastructure, data centres and alternative assets in key global markets. KIT is sponsored by Keppel Infrastructure Holdings Pte. Ltd., which invests in, owns and operates competitive energy and infrastructure solutions and services.
IMPORTANT NOTICE
The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, KIFM 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 KIFM to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units. The past performance of KIT is not necessarily indicative of the future performance of KIT. This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of 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 other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the KIFM’s current view on future events.
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