Centrepoint Properties Appoints Dr Han Cheng Fong as Deputy Chairman and CEO

30 April 2001 - Centrepoint Properties Limited today announced that it has appointed Dr Han Cheng Fong as Deputy Chairman and Chief Executive Officer.

Dr Han joined Centrepoint Properties as a Board Member and Project Consultant last November. His new appointment takes effect on 1 May 2001.

With an asset base of $3.3 billion, Centrepoint Properties has been continually profitable over the past 10 years, and is one of Singapore's fastest growing property companies. Dr Han aims to build on the strong foundations and existing strengths of the company and grow its potential as a fully integrated property group with expertise in all aspects of the real estate business including property development, investment properties, serviced residences, property management and property funds.

A key strategic reviewa is in progress to chart directions that will further enhance Centrepoint's market position and ensure its continued growth and profitability in an increasingly dynamic and complex environment. Three broad thrusts will guide Centrepoint Properties as it embarks on the next phase of growth:

. Grow the three existing core businesses of retail shopping malls, property development and serviced residences.
. Broaden the income base by expanding into selective regional markets.
. Develop fee-based and high service content businesses such as managing of retail shopping malls, serviced residences and property funds.

Said Dr Han: "Centrepoint Properties has made a name for itself despite its relatively short history. The Malls of Centrepoint, Centrepoint Homes, and Fraser Serviced Residences are well-received brand names synonymous with quality and value.

"My job is to continue the good work of my predecessors and grow the company in terms of asset size, markets, and income streams."

Centrepoint Properties also announced that Chief Financial Officer, Mrs Lim Joke Mui, will assume additional responsibilities as 2nd Company Secretary with effect from 1 May. Concurrently, Mrs Lau Su Lian will step down as 2nd Company Secretary to focus on her role as Group Legal Manager and 2nd Company Secretary of parent company, Fraser and Neave, Limited.