CapitaLand

CapitaLand: says it will simplify its corporate structure into 4 main business units by consolidating most of its Singapore and China operations into two entities. After its organizational change, the company will comprise CapitaLand Singapore, CapitaLand China, shopping-mall developer CapitaMalls Asia (JS8.SG) and serviced-apartments arm The Ascott. CEO Lim Ming Yan says "the objective of the change is to enhance CapitaLand's competitiveness". Adds, the simplified structure will allow it to leverage and optimise resources to enhance efficiency, economies of scale and shareholder returns. CapitaLand says it will place most of its domestic operations--including residential, commercial, and fund mgt businesses--into CapitaLand Singapore. This unit will be headed Wen Khai Meng, currently CEO of CapitaLand Financial. CapitaLand China will continue to be helmed by Jason Leow, CEO of CapitaLand China. As part of the reorganization, Olivier Lim will step as chief investment officer and become group deputy CEO. Mr. Lim will continue to be the chairman of Australand, CapitaLand's Australian unit. The co didn't say when Mr. Lim will take up his new role.