CapitaMall Heads for Record Drop in Singapore After CEO Quits

Bloomberg.com, 17 Sep 2008, Chen Shiyin

Sept. 18 (Bloomberg) -- CapitaMall Trust, Singapore's biggest property trust, fell the most on record in Singapore trading after Pua Seck Guan resigned as chief executive officer of its management company.

The stock tumbled 10 percent to S$2.40 as of 9:21 a.m. local time, poised for its largest drop since the shares started trading on the Singapore exchange in 2002. The trust said yesterday Pua is resigning to ``pursue his personal interests'' and will be replaced on Nov. 1 by Lim Beng Chee, currently chief executive officer of CapitaRetail China Trust's manager.

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