Keppel Infrastructure Fund Management Pte Ltd (KIFM), as Trustee-Manager of Keppel Infrastructure Trust (KIT), is pleased to announce the following board composition changes as part of the planned renewal of its Board.
KIFM has appointed Ms Eng Chin Chin (邢晶晶), 61, as an independent director to the Board with effect from 20 February 2025. Ms Eng will also be appointed as a member of the Audit and Risk Committee and the Environmental, Social and Governance (ESG) Committee.
Mr Khor Poh Hwa (许保华), 75, a current independent director of KIFM and a member of the ESG Committee, will cease to be a member of the ESG Committee and be appointed as a member of the Nominating and Renumeration Committee and Investment Committee, with effect from 20 February 2025.
Mr Mark Andrew Yeo Kah Chong (杨家俊), 62, will be stepping down from the Board of KIFM immediately following the conclusion of KIT’s upcoming annual general meeting as part of Board renewal, and will cease to be the Chairman of the Audit and Risk Committee and a member of the Nominating and Remuneration Committee.
Mr Adrian Chan Pengee (陈秉义), 60, an independent director, will be appointed as the Chairman of the Audit and Risk Committee, succeeding Mr Yeo with effect from Mr Yeo’s stepping down immediately following the conclusion of KIT’s upcoming annual general meeting.
Mr Daniel Ee (余福发), Chairman of KIFM, said, “The renewal of the Board’s composition allows us to further tap the diverse collective expertise as we steer KIT to deliver sustainable growth and value to Unitholders. We are pleased to welcome Chin Chin to KIFM’s Board as an independent director. I look forward to working closely with Chin Chin, as her wealth of experience in auditing and risk management will strengthen the Board’s competencies. I would also like to express the Board’s appreciation to Mark for his insightful counsel and exemplary leadership of the Audit and Risk Committee over the last nine years.”
Ms Eng spent 36 years with KPMG Singapore and held several senior management positions overseeing quality and risk management, and ethics and independence. Ms Eng has also been active in the capital markets space, serving as the independent reporting accountant in the listing and subsequent fundraising exercises of several asset management and real estate entities on the Singapore Exchange. In 2022, Ms Eng was appointed as the Chairperson of the Institute of Singapore Chartered Accountants (ISCA) Ethics Committee, which is responsible for the issuance of the ISCA Code of Professional Conduct and Ethics. Ms Eng holds a Bachelor in Accountancy from the National University of Singapore.
Compositions of the Board and the Board Committees
Following the abovementioned changes, with effect from the conclusion of the upcoming annual general meeting of KIT, the Board of KIFM will comprise seven Directors, of whom six are Independent Directors, and the compositions of the Board committees will be as follows:
About Keppel Infrastructure Trust
Keppel Infrastructure Trust (KIT) is a diversified business trust listed on the Singapore Exchange (SGX-ST) with approximately S$9.0 billion in assets under management. Its goal is to deliver sustainable and growing returns to Unitholders, through a combination of recurring distributions and capital growth.
KIT's portfolio of strategic infrastructure businesses and assets provide essential products and services to a wide array of customers including government agencies, multinational corporations, commercial and industrial enterprises as well as retail consumers.
The Trustee-Manager for KIT is Keppel Infrastructure Fund Management Pte. Ltd. (KIFM). KIT is sponsored by Keppel, which invests in, owns and operates competitive energy and infrastructure solutions and services.
IMPORTANT NOTICE
The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, KIFM or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request KIFM to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units. The past performance of KIT is not necessarily indicative of the future performance of KIT. This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the KIFM’s current view on future events.
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