President and Group CEO
Lim Ming Yan completes his first year as president and group CEO of CapitaLand Limited, one of Asia's largest real estate companies this month. The former group COO and deputy chairman of CapitaLand's China Executive Committee stepped into his new role in January 2013 following an exhaustive search and with the unanimous support of the board. Lim brought to his new position more than a decade's experience as part of the group's senior management and a track record of growing CapitaLand into a leading foreign real estate developer in China. During his nine years as CEO of CapitaLand China Holdings, Lim successfully built and expanded CapitaLand's real estate businesses, established a strong reputation for CapitaLand and grew Raffles City into a well-recognised signature brand. He returned to Singapore to helm Ascott, CapitaLand's wholly owned serviced residence business unit in 2009, before assuming the role of group COO in 2011 and then as its president and group CEO last year. Under his watch, CapitaLand Group was re-aligned and simplified into four core businesses — CapitaLand Singapore, CapitaLand China, CapitaMalls Asia and Ascott. It also focuses on three key investments namely Australand, Vietnam and StorHub, as well as its REIT and fund platform.
Among the many awards accorded in 2013, CapitaLand picked up six awards at the Securities Investors Association Singapore 14th Investors' Choice Awards in 2013, including the Most Transparent Company Award in the Real Estate category for the 13th consecutive year and the prestigious Golden Circle Award for the second consecutive year. CapitaLand was also recognised as a top investor relations performer in the IR Magazine's Global Top 50 and the grand prix for best overall investor relations by a large-cap company, best investment community meetings and best in sector for real estate in the IR Magazine Awards.
CapitaLand posted a 52.5 percent increase in revenue for the quarter ended September 2013 to $1.05 billion. Operating PATMI for the same period rose 13.4 percent to $101.8 million. The number of residential units sold by CapitaLand in Singapore during the first nine months of 2013 more than tripled to 1,151, chalking up a sales value of $2.2 billion. Its most recent property launch, Sky Vue, sold 86 percent of the 505 units released in September, making it Singapore's top-selling residential project that month.