Tower REIT names new CEO for management company

KUALA LUMPUR (June 26): Tower Real Estate Investment Trust (KL:TWRREIT) announced on Thursday the appointment of Douglas Richard Fyvie Crichton as the new chief executive officer of the trust's management company, GLM REIT Management Sdn Bhd, with immediate effect.

The 54-year-old UK national has over 25 years of experience in real estate in Southeast Asia, said Tower REIT in a filing with Bursa Malaysia.

Crichton previously held senior positions in Low Yat Management Services Sdn Bhd, which is the corporate arm of Low Yat Group, and real estate consultancy firm Savills (Malaysia) Sdn Bhd.

He is a chartered surveyor from the Royal Institution of Chartered Surveyors, and has a bachelor’s degree in valuation and real estate management from the University of West England in Bristol, UK, as well as an MBA in construction and real estate from the University of Reading, UK.

Tower REIT on Thursday also announced the appointment of  Wong Shao Ling as its non-independent and non-executive director. She is the current general counsel of HL Management Co Sdn Bhd, a wholly-owned unit of Hong Leong Company (Malaysia) Bhd, which is the ultimate holding company of Hong Leong Bank Bhd (KL:HLBANK).

The REIT said Wong has over 20 years of experience in legal practice and has held positions in Khazanah Nasional Bhd including senior vice president before joining HL Management in 2022.

Tower REIT units ended flat at 30 sen on Thursday, valuing the trust at RM147.3 million.

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