Mapletree Investments Pte Ltd, a wholly-owned subsidiary of Temasek Holdings is pleased to announce that it has been appointed by the Urban Redevelopment Authority of Singapore (URA) as its consultant to review the master plan of the new Downtown around the Marina Bay, as well as market the site as Singapore’s next generation Business and Financial District to potential developers and investors.
Dr Richard Hu, Chairman of Mapletree said, “We are very pleased to be appointed by URA as their consultant on this project. Mapletree focuses on large-scale long-term developments, especially if it can help pioneer new economic clusters for higher value add or long term returns. This project will enable Mapletree to contribute to Singapore’s economic and social needs.”
Mr Khoo Teng Chye, President & CEO of Mapletree said, “Mapletree has the relevant ability, experience and expertise to take on this project. We have worked with various partners and co-investors in large scale integrated projects, both in Singapore and overseas. We are very pleased to have this opportunity to contribute to Singapore’s development as a key financial and business hub in Asia.”
Mapletree Announces New Board
Mapletree is also pleased to announce its new board, comprising respected leaders with extensive international experience in the financial, urban planning, property and architectural fields:
- Chairman Dr Richard Hu, Chairman, GIC Real Estate Pte Ltd
- Deputy Chairman Mr Philip Yeo, Chairman of A*STAR, the Agency for Science, Technology and Research and Co Chairman of the Economic Development Board of Singapore (EDB)
- Director Mr David Childs, Consulting Design Partner, Skidmore, Owings & Merrill New York (SOM)
- Director Mr Cheng Wai Keung, Chairman & Managing Director, Wing Tai Holdings Limited
- Director Mr John Olds, Special Advisor to Chairman, DBS Group Holdings Limited
- Director Ms Madeleine Lee, Chief Investment Officer, Athenaeum Fund Management Pte Ltd.
- Director Mrs Lim Hwee Hua, Managing Director of Corporate Stewardship, T emasek Holdings (Private) Limited
- Director Mr Khoo Teng Chye, President & CEO, Mapletree Investments
More About Mapletree
Mapletree was formed by Temasek Holdings in December 2000 to take over non-port properties from PSA.when PSA transferred its property assets to Temasek Holdings. The company’s mission is to focus on unique large-scale or long term development clusters which can pioneer the development of new economic and business clusters. Backed by a team of about 200 experienced professionals, Mapletree owns and manages an asset base of some S$3 billion comprising primarily harbourfront office and warehousing properties.
The company is currently building a world-class harbourfront development in Singapore at the Maritime Square area known as The HarbourFront. This landmark development spans 22 hectares of land and boasts a unique business and lifestyle destination with excellent MRT access and integrated facilities catering for cruises, retail and entertainment businesses as well as an office park.
Other harbourfront projects that the company is also involved include the 16-acre Bryant Street Pier Project in San Francisco, as well as the 163-hectare Marina City Project in Donggang, Dalian in China.
Bio-data of Mapletree Board of Directors
Dr Richard Hu was Singapore’s former Minister for Finance from 1985 until his retirement in 2001. He is currentlythe Chairman of the Government of Singapore Investment Corporation (GIC) Real Estate Pte Ltd, the real estate investment arm of GIC, as well as Chancellor of the Singapore Management University. His high standing in the international financial community will help to attract international investors.
Mr Philip Yeo is currently Chairman of A*STAR, the Agency for Science, Technology and Research and Co-Chairman of EDB (Economic Development Board of Singapore). He has vast experience in setting up major infrastructure development projects at home and abroad. His contacts from his over 16 years of EDB work and his international marketing expertise especially in attracting investments to Singapore will be particularly relevant to this Business and Financial Centre Project.
Mr David Childs is the Consulting Design Partner to Skidmore, Owings & Merrill New York (SOM). He was behind several successful financial and business city projects in the world which include Canary Wharf in London, the New York Stock Exchange and many others. He will be able to provide valuable inputs from the architectural and development perspectives for this project.
Mr Cheng Wai Keung is the Chairman and Managing Director of Wing Tai Holdings Limited. He is presently serving as Chairman of the Working Group on Land, which forms part of the Sub-Committee on Taxation, CPF, Wages, and Land under the Economic Review Committee. He will be able to provide private sector views on property development.
Mr John Olds is Special Advisor to Chairman, DBS Group Holdings Limited. He was CEO of DBS from August 1998 until January 2001 and Vice Chairman from August 1998 until May 2001. He has 36 years of experience as a career banker, 24 of which were spent with JP Morgan. His vast experience and knowledge of the financial services industry will be immensely useful to this project.
Ms Madeleine Lee is the founder and Chief Investment Officer of Athenaeum Fund Management Pte Ltd, an alternative investments management company. Prior to starting her own ventures, she spent 15 years in the investment business with various orgainisations including GSIC, Morgan Grenfell and was Managing Director and Chief Investment Officer of Commerzbank Asset Management Asia Ltd. Her strong financial skills will be useful in coming up with innovative financial packages to potential investors in this project.
Mrs Lim Hwee Hua is Managing Director, Corporate Stewardship, Temasek Holdings. Just prior to joining Temasek Holdings, she was Director/Head of Research at Jardine Fleming Singapore Securities. She is currently also Deputy Speaker of Parliament as well as Member of Parliament for Marine Parade GRC.
Mr Khoo Teng Chye is President and CEO of Mapletree Investments Pte Ltd. He was previously the Group President of PSA Corporation and before that, the CEO of Singapore’s Urban Redevelopment Authority (URA)
