Frasers Property Capital, the new group corporate function of Frasers Property Limited (FPL), has appointed Wong Ping as its chief investment officer (CIO).
The newly formed Frasers Property Capital has a mandate to coordinate capital partnerships with like-minded investors who are keen to take part in the company’s growth, as it pursues investment opportunities aligned with its strategic objectives.
Wong, who joined in July and is based in Singapore, reports to group chief corporate officer, Chia Khong Shoong.
Wong comes with over 25 years of extensive experience in real estate investment management. She previously held senior leadership positions with CBRE Investment Management and Allianz Real Estate Asia Pacific.
She says, “I am looking forward to bringing a focus on capital partnerships in geographies and sectors where Frasers Property has developed robust capabilities, especially as the group has built up meaningful scale with its multinational network over the last few years.”
“The group has earned its reputation by purposefully growing its business where we have accumulated local and sector knowledge with the support of our tenants and customers. This approach is complementary to how we intend to scale and align sustainably with our partners,” she adds.
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On Wong’s appointment, Chia says, “real estate is a capital-intensive industry".
"To maximise value generated from our platforms and capabilities, we need a strong capital base and diversified capital sources to execute on our strategic priorities,” he says.
He adds: “We believe long-term strategic institutional investors, who share our vision, will appreciate the capabilities of our established real estate platforms in our chosen markets that are backed by strong, experienced local teams.”
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In addition, Chia called the formation of Frasers Property Capital a “natural evolution” in Frasers’ journey.
“We look forward to having Ping lead and deepen our relationships with long-term capital partners, working alongside our business units,” he continues.
As at 4.59pm, shares in Frasers Property Limited are trading 1 cent lower or 0.95% down at $1.04.
