28 Jun 2019
Dr Chew (middle) and his closely-knit team
Dr Chew Tuan Chiong, Chief Executive Officer, Frasers Centrepoint Asset Management (FCAM), the manager of Frasers Centrepoint Trust (FCT), will be retiring on 1st July after close to a decade with Frasers Property Singapore.
Overseeing the overall business and investment strategy of FCT, the Trust has excelled under Dr Chew’s near-decade stewardship, with unit price increasing by a staggering 89% from $1.38 to a recent record high closing price of S$2.61. Market capitalisation of FCT increased 167% from just over $1 billion to hit a record-high of $2.9 billion. Other impressive track record include the growth of the FCT's total assets from S$1.5 billion to S$3.6 billion, and an impressive a total return in the last 10 years of 437% which outperforms the benchmark FTSE-REIT and STI indices.
FCT has also won many awards under Dr Chew’s tenure as CEO. These awards include five prestigious investor relations awards at the IR Magazine Awards 2017, Platinum Award for the Best Retail REIT at the Asia Pacific Best of Breeds REITs 2018, Best Sustainable Growth REIT in Asia at the Fortune Times REITs Pinnacle Awards 2018, the Grand Prix for Best Overall IR - Mid/Small cap at IR Magazine Awards SEA2012 and Singapore's Best Mid Cap in 11th FinanceAsia Poll 2012. In total, FCT has clinched a total 18 IR awards with Dr Chew at the helm.
Among his team, Dr Chew is known to be very down-to-earth, and adopts an open-door policy to everyone on his team. His cheery attitude, and philosophy of treating everyone equally and with respect has made him a very likable leader. He goes the extra mile to make sure that people around him are comfortable, and you will always find him with a smile on his face.
His recent farewell party on 27 June 2019 was attended by many who shared fond memories of what it was like to work with him.
Pictures taken at Dr Chew’s farewell party on 27 June.
Ms Tay Hwee Pio, Chief Financial Officer, FCAM, said, “I would like to express my gratitude to Dr Chew for his leadership in steering FCT to new heights, ending each year with undisrupted DPU growth, even during the challenging years of reported negative Retail Sales Index. And it is thanks to his ever-readiness to share and impart his knowledge that made my work enjoyable. I wish him a happy and fulfilling retirement!”
Mr Chen Fung Leng, the Vice President of Investor Relations at FCAM, has known him for nine years and is one of his closest colleagues.
He said: “Dr Chew is great at what he does. His people skills and candidness have always been appreciated by investors. As a colleague and mentor, he has always been very approachable and accommodating when it comes to discussions and making decisions. I have great memories of us working together and going on roadshows to meet investors. He will definitely be missed in the office.”
Mr Alex Chia, Vice President, Asset Management, FCAM also works closely with Dr Chew.
He said: “Dr Chew empowers his team by giving us a lot of autonomy in how we handle our work. He is affable and you can always find him smiling. I wish him good health and all the best in his future endeavours.”
Mr Rene Lee, Vice President, Investments, said, “I am relatively new to FCT but I could quickly tell the leadership and culture that Dr Chew has provided and instilled. Performance metrics aside which speak for themselves, it is Dr Chew’s personal touch, wisdom and humour that will be especially missed by everyone here.”
Ms Wendy Sim, Office Manager, CEO’s Office, has worked with Dr Chew since May 2010.
She said: “The first time I met Dr Chew was when I was being interviewed for my current position. I was initially taken aback and felt nervous talking to someone of his standing. In the first half of the interview, I felt like it wasn’t going well. But then, he told me that qualifications don’t matter, it’s all about the attitude. That stuck with me through my years working at Frasers and moulded me into the person I am today.”
During the farewell, Mr Christopher Tang, CEO, Frasers Property Singapore took the opportunity to thank Dr Chew for his contributions to the company.
“I’ve had the privilege of working with Dr Chew for close to 10 years. I have enjoyed our discussions and his insights on both business and the public sector. He has formidable insight and has a strategic mind with the ability to cut through complex issues get into the heart of the matter. I wish him success and thank him for being part of the FCT journey."
Dr Chew also expressed his heartfelt thanks to his team at the party.
He said: “My time at Frasers has been wonderful. I'm very fortunate to have a solid, responsible and professional team that is fully empowered and really focused. I thank all colleagues in the Frasers family for making my journey a happy and fruitful one. It is a true privilege to be part of an organisation driven by clear vision and dynamism from the very top.“
Shoppers will be looking forward to exploring a range of new and exciting things with the programmes lined up this July and August. They will be given the opportunity to get up close and personal with wildlife, take on the Amazing Food Race, and support efforts to create a zero-waste future.
12 Jul 2019
Ex-offender Matthew Poh and ex-prison officer Hilary Lo came together to open The Caffeine Experience, a social enterprise café to provide second chances to at-risk individuals.
03 Jul 2019