Heeton Holdings announced that Mr. Eric Teng will be stepping down as Chief Executive Officer and Executive Director of the Group, with effect from October 1, 2019. He will remain on the Board of Directors as a Non-Executive, Non- Independent Director of the Group. Under Mr. Teng's leadership, the company continued to establish itself as a premier hospitality investor, owner and operator, having grown its portfolio to 12 operating hotels across the United Kingdom, Japan and Thailand, as well as an ongoing development in Bhutan.

The company has also continued to strategically participate in select residential development projects in Singapore. The Board is leading the search for a suitable successor. In the interim, Mr. Toh Giap Eng,Vince, the incumbent Executive Deputy Chairman and Executive Director of the Group, will assume the responsibilities of CEO.