GuocoLand Group CEO Cheng Hsing Yao has been appointed as the deputy president of the Council for Estate Agencies (CEA) effective from November 1, 2021. This announcement was made through a press release by the Ministry of National Development (MND) on October 30, 2021. This new role within the CEA will see Cheng supporting the President, Quek See Tiat, in leading the council.
Alongside Cheng, two other new members will also be joining the council. They are Dexter Tay Hai Hong, the executive director of Consumers Association of Singapore (CASE) and Adam Wang Teck Hong, the president of Singapore Estate Agents Association and key executive officer of FER Properties. These new members, along with Quek and the eight re-appointed members, will form the council’s next term which begins on November 1, 2021 and will end on October 31, 2024.
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The CEA was established in 2010 as a statutory board to regulate and promote a professional and trusted real estate agency industry. Its main responsibilities include licensing and registration of property agents. The council also aims to uphold ethical standards and promote fair business practices within the industry.
Four current council members will be stepping down from their positions on the CEA – Thomas Tan Thiam Hee, CEO of SRI; Lok Vi Ming, managing director of LVM Law Chambers; Mohamed Abdul Akbar Bin Mohamed Abdul Kader, managing director of Nan Guan Construction and Ng Boon Yew, executive chairman of Raffles Campus Group.
In addition to his role at GuocoLand, Cheng is also a member of the board of directors at Straits Trading Company and holds various leadership positions in organisations such as the Real Estate Developers’ Association of Singapore (REDAS) and the Building and Construction Authority (BCA).
The appointment of Cheng and the other new members to the CEA council reflects the government’s commitment to strengthen the real estate industry and ensure the highest level of professionalism and credibility in the market.