APAC Realty on Tuesday (July 28) announced that Desmond Tan will be stepping down from his roles of independent non-executive director, chairman of remuneration committee and a member of audit committee and nominating committee with effect from July 27.
Tan will be assuming the roles of Minister of State in the Ministry of Home Affairs and the Ministry of Sustainability and the Environment (previously called the Ministry of the Environment and Water Resources).
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In an SGX filing, the board thanked Tan for his services and contributions during his tenure with the company.
Shares in APAC Realty closed 1 cent down, or 2.8% lower, at 34.5 cents on July 28.
