Lily Ler to step down as CEO of Mapletree Industrial Trust manager

[SINGAPORE] The chief executive of Mapletree Industrial Trust Management, Lily Ler, is stepping down from her position to become group chief financial officer of Mapletree Investments, the trust’s sponsor.

Ler, 54, will officially vacate her positions as CEO and executive director of the manager on Oct 1, the manager said in a bourse filing on Friday (Aug 21).

She has helmed the manager of the trust – which has a market capitalisation of S$5.5 billion – since July 2024, and was previously its CFO for over a decade.

Anand Tze Ming Chandran, 43, currently head of Asia-Pacific data centres at Mapletree Investments, will succeed Ler as CEO and executive director of the trust’s manager.

His appointments will be effective from Oct 1 as well, subject to regulatory approval.

Chandran has more than 16 years of experience across corporate finance, investment banking and digital infrastructure.

Before joining the sponsor in February, he was CFO of Kuok Group’s digital infrastructure platform, K2 Strategic, where he oversaw capital and liquidity strategy, corporate governance, as well as mergers and acquisitions.

In his upcoming role, he will lead the manager of a trust overseeing a roughly S$8.3 billion portfolio of income-producing industrial properties and data centres.

Chandran holds degrees from the London School of Economics and Political Science, University of Oxford, as well as Singapore Management University.

Detailed disclosures regarding the management changes will be released separately, the manager of Mapletree Industrial Trust said.

The trust’s units closed at S$1.92 on Friday, up 0.5 per cent or S$0.01, before the news.