Founder, Dato’ Stewart LaBrooy steps down as Chairman of the MRMA after leading the Association for the past five years.
The Malaysian REIT Managers Association (MRMA) announced a change in the Executive Committee (EXCO) line up with a new Chairman elected to head the Association at an AGM held here on the 14 January 2016.
“It has been an honour to lead MRMA ever since its inception in 2010. I am extremely proud of what we have accomplished in building this Association into what it is today; a collective sectorial representation that has created a cohesive united front for REITs in Malaysia (M-REITs), said Dato’ Stewart LaBrooy, outgoing Chairman of MRMA and current Executive Chairman of AREA Management Sdn. Bhd.
“The Association has enabled the M-REITs sector to lobby with unanimous voice in regulatory matters affecting the industry. In addition, MRMA members have made a concerted effort to introduce and promote REITs as a desirable investment asset class to the Malaysian investor who had little or no knowledge of REITs.”
He further added that he was confident that incoming Chairman Dato’ Jeffery Ng, the CEO of Sunway REIT Management Sdn. Bhd. will continue to pursue the Association’s objectives as he brings his valuable experiences as a former Chairman of Real Estate & Housing Developers’ Association Malaysia (REDHA). MRMA therefore is well positioned to engage with the regulators and investors as well as promote the REIT sector domestically as well as regionally.
He also said that given MRMA’s excellent track record and strong reputation, this was the right time to hand over the reins to a new leadership which will continue to champion the sector.
Dato’ Jeffrey Ng commented, “On behalf of all members of MRMA, we would like to express our sincere gratitude to the founding Chairman, Dato’ Stewart Labrooy, who is instrumental in the development and growth of the M-REITs industry through his unwavering dedication since the inception of the association.”
He further added, “As a collective voice of the association, we strive to continue to leverage on MRMA’s platform to proactively engage with the various government ministries, Bursa Malaysia and Securities Commission Malaysia in regulatory matters as well as other areas affecting the M-REITs sector to further enhance the competitiveness of M-REITs in the region.”