Kuala lumpur: The Malaysian REIT Managers Association (MRMA) has appointed Derek Teh Wan Wei, the chief executive officer and executive director of Sunway REIT Management Sdn Bhd, as its new chairman during the association's annual general meeting (AGM). This appointment marks a significant leadership change within the organization.

According to BERNAMA News Agency, the appointment of Teh follows the completion of the tenure of the former chairman, Leong Kit May of Axis REIT Managers Bhd, who served from June 3, 2024, to June 11, 2026. Teh has expressed his commitment to representing the interests of Malaysia's REIT managers by collaborating with the government and regulators to ensure functional regulations, viable structures, and tax harmonization.

Teh emphasized the importance of positioning Malaysian REITs as a recognized income asset class for both Malaysian and international investors. He also aims to strengthen the competitiveness of Malaysian REITs on a regional and international level.

The AGM also resulted in the re-election of Zuhairy Md Isa from AmREIT Managers Sdn Bhd as vice chairman. Additionally, Yong Su Lin from CapitaLand Malaysia REIT Management Sdn Bhd was newly elected as a vice chairman. Datuk Stewart Labrooy of Alpha REIT Managers Sdn Bhd was re-elected as honorary secretary, while Hafidz Atrash Kosai Mohd Zihim from Pelaburan Hartanah Nasional Bhd will continue his role as honorary treasurer for a second year.