Frasers Hospitality will now be led by Eu Chin Fen, who is moving over from the company’s real estate investment trust manager, where she was also CEO.
Overseeing expansion
Replacing Koh Teck Chuan after his four year tenure, she will report directly to Panote Sirivadhanabhakdi, group CEO of Frasers Property and will join the Frasers Property Group executive leadership team.
In her new appointment, Eu will be responsible for the group’s hospitality business unit, currently led by Sirivadhanabhakdi. She will oversee the group’s hospitality business from investment and business development, to global expansion of its chain of serviced residences and hotels worldwide.
Extensive experience
Prior to her current role, Eu was chief investment officer of Frasers Hospitality International from July 2019 to April 2021. There, she assisted the CEO of the hospitality strategic business unit of the group in developing and implementing the business and investment strategies of the hospitality business, in line with the aims of the Frasers Property Group.
Eu joined the Frasers Property Group in 2011. She was previously CEO of the real estate investment trust manager when Frasers Hospitality Trust was listed in July 2014 and relinquished this role in June 2019.
Previously, Eu was senior vice president of the asset-backed securitisation team at DBS Bank Ltd., responsible for the origination and listings of real estate investment trusts and business trusts in Singapore.
Management reshuffle
When Eu begins her new role on 1 February, she will be succeeded in her real estate investment trust manager CEO position by Eric Gan, who is currently the chief financial officer in that division.
He will be responsible for the overall business, investment and operational strategies of Frasers Hospitality Trust, Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust. He will be working closely with the board of each of the trust managers.
Financial background
Gan is currently responsible for the financial and capital management of all three trusts. He has over 20 years of experience in financial reporting, corporate finance, treasury management, audit, taxation and company secretarial matters.
Prior to joining Frasers’ real estate investment trust manager, Gan was the chief financial officer of OUE Hospitality REIT Management, the real estate investment trust manager of OUE Hospitality Real Estate Investment Trust (OUEHT), from August 2014 to September 2018. Before OUEHT, he was the chief financial officer of Meritus Hotels & Resorts, OUE’s hospitality division.
Gan has extensive experience in the field of financial management. He started his professional career with international accounting firms and later moved on to public listed companies in real estate, manufacturing and food businesses, where he held key positions such as senior vice president, company secretary and chief financial officer. Gan is a fellow of The Association of Chartered Certified Accountants (UK) and a member of the Institute of Singapore Chartered Accountants.
Personnel reorganisation
These changes mean that Liu Qingbin has been appointed as the head of finance for the group’s real estate investment trust manager and will report to Gan. He will be responsible for the financial and capital management of the three trusts.
Liu has over 15 years of experience in audit, accounting, corporate finance, tax, treasury and capital management. Previously, he was vice president, finance where he assisted the chief financial officer of the group’s real estate investment trust manager on financial reporting, taxation and other finance related matters of the three trusts.
Earlier in his career, he was senior vice-president of Sabana Real Estate Investment Management, the real estate investment trust manager of Sabana Shari’ah Compliant Industrial REIT, where he was responsible for the financial reporting, taxation, management reporting, treasury and capital management. He was previously an audit manager at PricewaterhouseCoopers. Liu holds a bachelor of accountancy (first class honours) from the Nanyang Technological University and is a chartered accountant and a member of the Institute of Chartered Accountants of Singapore.
Strengthening leadership
Group CEO Sirivadhanabhakdi said: “Frasers Hospitality is an important business to the group. I am pleased to announce leadership changes that further strengthen our existing leadership team in the hospitality business. Their appointments reinforce the effectiveness of our executive development, is part of our strategic talent and succession planning and demonstrates how we are able to maximise the leadership expertise in the group.”
Frasers Hospitality has over 16,000 units in operation. Its brand portfolio includes Fraser Suites, Fraser Place, Fraser Residence, Modena by Fraser, Capri by Fraser, and in the UK – Malmaison and Hotel du Vin.
