The Ascott Limited (Ascott), CapitaLand’s wholly-owned serviced residence business unit, has appointed Tan Boon Khai as Regional General Manager for both Singapore and Malaysia.

Mr. Tan will be responsible for driving Ascott’s growth and ensuring operational effectiveness to enhance the company’s presence in both markets.

“Singapore is a major contributor to the business performance of The Ascott Limited and our Singapore-listed REIT, Ascott Residence Trust. Our Malaysia properties also continue to lead in market performance,” said Mr. Alfred Ong, Ascott’s Managing Director for Southeast Asia & Australia.

“Adding Boon Khai to the team will further strengthen Ascott’s management bench strength. He will also position Ascott to tap growth opportunities in Singapore and Malaysia as we work towards achieving our target of 14,000 apartment units in Southeast Asia & Australia by 2015.”

Mr. Tan, who was Senior Vice President in the Office of President at CapitaLand, has varied professional experience in business development and operations, as well as the formalisation and standardisation of business systems and processes within the CapitaLand Group.

“Singapore and Malaysia are key growth markets for Ascott and both continue to offer tremendous potential,” said Mr. Ong.

“Demand for international-class serviced residence remains strong as foreign investments and tourist arrivals are increasing in these markets. I am excited to work with Ascott’s dynamic and passionate team to strengthen the company’s presence in Singapore and Malaysia.”