Gan Chee Yen
Chairman and Independent Director; Chairman of Audit and Risk Committee
Board of the REIT ManagerBHG Retail Reit BMGU
SGD 0.48
+2.08% +0.01 Updated 13 Nov 2026, 17:16 SGT
Company profile
The business, the people and the ownership behind BHG Retail Reit.
Investor relations ↗Official company website
Business overview
About the company
BHG Retail REIT invests in retail properties in China. Its portfolio comprises shopping centres in cities including Beijing, Chengdu, Hefei, Xining and Dalian.
Listed security
Company & listing
- Full Company Name
- BHG RETAIL TRUST MANAGEMENT PTE. LTD.
- Trading Currency
- SGD
- Website
- www.bhgreit.com
- Listing
- Listed on 11 December 2015 on SGX Mainboard
- ISIN Code
- SG1CD7000009
Board & management
Leadership
The REIT is externally managed. Board and executive roles refer to BHG Retail Trust Management Pte. Ltd.; the REIT registered address and trustee are separately identified.
George Quek Meng Tong
Independent Director; Chairman of Nominating and Remuneration Committee
Board of the REIT ManagerOng Tze Guan
Independent Director
Board of the REIT ManagerXiong Zhen
Non-Executive Director
Board of the REIT ManagerPeng Ge
Non-Executive Director
Board of the REIT ManagerChan Iz-Lynn
Chief Executive Officer and Head of Investor Relations
Management of the REIT ManagerVictor Ten
Chief Financial Officer
Management of the REIT ManagerJacky Chan Fu Yek
Senior Finance Manager
Management of the REIT ManagerEric Liu
Investment and Asset Management Manager
Management of the REIT ManagerMalcolm Chen
Investor Relations Manager
Management of the REIT ManagerPhilip Tan
Compliance Manager
Management of the REIT ManagerCho Form Po
Company Secretary
REIT ManagerREIT Manager
BHG Retail Trust Management Pte. Ltd.
REIT ManagerManager registered address
250 North Bridge Road, Raffles City Tower #32-01, Singapore 179101
REIT ManagerManager telephone
+65 6805 8288
REIT ManagerManager fax
+65 6805 8277
REIT ManagerREIT registered address
12 Marina Boulevard, Level 44 Marina Bay Financial Centre Tower 3, Singapore 018982
REIT registered address at trusteeTrustee
DBS Trustee Limited
REIT TrusteeTrustee telephone
+65 6878 8888
REIT TrusteeInvestor relations email
REIT investor relationsWebsite
www.bhgreit.com
REITRoles listed in BHG Retail REIT Annual Report 2025; current appointments are not independently verified.
Holdings
Ownership
Unitholding snapshot is 11 March 2026. Issued units: 519,602,601; one class and one vote per unit; no treasury units. Top20 holdings total 512,622,507 units (98.66%). Original BHM SCM deemed interest of 16,133,133 units is printed as 3.11%; recomputation using issued units gives 3.10%. The original value is retained with this qualification. Direct, deemed and total substantial interests overlap between related parties; do not sum them across the schedules.
Beijing Hua Lian Group (Singapore) International Trading Pte Ltd
Direct: 151,659,997 units (29.19%); Deemed: - units (-); Total: 151,659,997 units (29.19%)
Beijing Hualian Group Investment Holding Co. Ltd.
Direct: - units (-); Deemed: 201,842,127 units (38.85%); Total: 201,842,127 units (38.85%)
Beijing Hualian Department Store Co., Ltd.
Direct: - units (-); Deemed: 41,873,622 units (8.06%); Total: 41,873,622 units (8.06%)
Beijing Hualian Mall (Singapore) Commercial Management Pte. Ltd.
Direct: 25,740,489 units (4.95%); Deemed: 16,133,133 units (3.11%); Total: 41,873,622 units (8.06%)
Hainan Hong Ju Industrial Co. Ltd.
Direct: - units (-); Deemed: 201,842,127 units (38.85%); Total: 201,842,127 units (38.85%)
Hainan Hong Ju Culture Media Group Limited
Direct: - units (-); Deemed: 201,842,127 units (38.85%); Total: 201,842,127 units (38.85%)
Qianhai International Holdings Co., Limited
Direct: 67,672,900 units (13.02%); Deemed: - units (-); Total: 67,672,900 units (13.02%)
Chanchai Ruayrungruang
Direct: - units (-); Deemed: 67,062,900 units (12.91%); Total: 67,062,900 units (12.91%)
Zhang Chongyu
Direct: 62,292,440 units (11.99%); Deemed: - units (-); Total: 62,292,440 units (11.99%)
Total interests include direct and deemed holdings and may overlap across holders. These percentages should not be added together.
Registered & depository holders 20 holders
Registered holdings, including nominees and depositories; these do not establish ultimate beneficial ownership. As reported at 2026-03-11 · PDF p. 197
| Registered holder | Interest | Shares / units | Source |
|---|---|---|---|
| BEIJING HUA LIAN GROUP (SINGAPORE) INTERNATIONAL TRADING PTE LTD | 151,659,997 units; 29.19% | PDF p. 1972026-03-11 | |
| DBS NOMINEES (PRIVATE) LIMITED | 86,511,024 units; 16.65% | PDF p. 1972026-03-11 | |
| ABN AMRO CLEARING BANK N.V. | 67,672,900 units; 13.02% | PDF p. 1972026-03-11 | |
| DBSN SERVICES PTE. LTD. | 67,062,900 units; 12.91% | PDF p. 1972026-03-11 | |
| CITIBANK NOMINEES SINGAPORE PTE LTD | 57,154,720 units; 11.00% | PDF p. 1972026-03-11 | |
| KGI SECURITIES (SINGAPORE) PTE. LTD | 28,526,481 units; 5.49% | PDF p. 1972026-03-11 | |
| DBS VICKERS SECURITIES (SINGAPORE) PTE LTD | 23,383,300 units; 4.50% | PDF p. 1972026-03-11 | |
| BEIJING HUALIAN HYPERMARKET (SINGAPORE) PURCHASING PTE LTD | 8,308,508 units; 1.60% | PDF p. 1972026-03-11 | |
| BHG MALL (SINGAPORE) PROPERTY MANAGEMENT PTE LTD | 7,606,652 units; 1.46% | PDF p. 1972026-03-11 | |
| UNITED OVERSEAS BANK NOMINEES (PRIVATE) LIMITED | 6,507,578 units; 1.25% | PDF p. 1972026-03-11 | |
| BEIJING HUALIAN MALL (S) COMMERCIAL MANAGEMENT PTE LTD | 5,740,489 units; 1.10% | PDF p. 1972026-03-11 | |
| LIM CHIN GUAN | 394,500 units; 0.08% | PDF p. 1972026-03-11 | |
| LAU TECK SIEN LIU DEXIAN | 375,000 units; 0.07% | PDF p. 1972026-03-11 | |
| RAFFLES NOMINEES (PTE.) LIMITED | 342,600 units; 0.07% | PDF p. 1972026-03-11 | |
| BAN HONG KEE HOLDINGS PTE LTD | 341,900 units; 0.07% | PDF p. 1972026-03-11 | |
| HUANG SHU HUA | 285,100 units; 0.05% | PDF p. 1972026-03-11 | |
| IFAST FINANCIAL PTE. LTD. | 218,698 units; 0.04% | PDF p. 1972026-03-11 | |
| PHILLIP SECURITIES PTE LTD | 210,160 units; 0.04% | PDF p. 1972026-03-11 | |
| XU ZHE | 187,600 units; 0.04% | PDF p. 1972026-03-11 | |
| MORGAN STANLEY ASIA (SINGAPORE) SECURITIES PTE LTD | 132,400 units; 0.03% | PDF p. 1972026-03-11 | |
Group structure
Main operating subsidiaries
Note 6 lists six Singapore subsidiaries held directly and six China subsidiaries held through subsidiaries. Beijing Hualian Wanmao Shopping Mall Management Co., Ltd. is 60% held; the other eleven listed subsidiaries are 100% held in both years. The interests-in-subsidiaries balance includes equity cost and non-trade amounts due from subsidiaries.
| Company | Market | Ownership interest |
|---|---|---|
| Petra 1 (China) Mall Pte. Ltd.Held directly by REIT | Singapore; Effective equity 2025: 100%; 2024: 100% | |
| Petra 2 (China) Mall Pte. Ltd.Held directly by REIT | Singapore; Effective equity 2025: 100%; 2024: 100% | |
| Petra 3 (China) Mall Pte. Ltd.Held directly by REIT | Singapore; Effective equity 2025: 100%; 2024: 100% | |
| Petra 4 (China) Mall Pte. Ltd.Held directly by REIT | Singapore; Effective equity 2025: 100%; 2024: 100% | |
| Petra 6 (China) Mall Pte. Ltd.Held directly by REIT | Singapore; Effective equity 2025: 100%; 2024: 100% | |
| Fuchsia (China) Mall Pte. Ltd.Held directly by REIT | Singapore; Effective equity 2025: 100%; 2024: 100% | |
| Beijing Hualian Wanmao Shopping Mall Management Co., Ltd.Held through subsidiaries | China; Effective equity 2025: 60%; 2024: 60% | |
| Hefei Hualian Rui An Shopping Mall Commercial Operation Co., Ltd.Held through subsidiaries | China; Effective equity 2025: 100%; 2024: 100% | |
| Qinghai Xinglian Real Property Co., Ltd.Held through subsidiaries | China; Effective equity 2025: 100%; 2024: 100% | |
| Chengdu Hairong Xingda Real Property Co., Ltd.Held through subsidiaries | China; Effective equity 2025: 100%; 2024: 100% | |
| Dalian Hualian Commercial Facilities Operation Co., Ltd.Held through subsidiaries | China; Effective equity 2025: 100%; 2024: 100% | |
| Hefei Hualian Ruicheng Shopping Plaza Commercial Operation Ltd.Held through subsidiaries | China; Effective equity 2025: 100%; 2024: 100% | |
Ownership interests and geographic information follow the annual report. Comparative years and footnote markers retain the report’s notation.
Senior executives
Key management
Key management
| Item | Value | Period / scope | Source |
|---|---|---|---|
| MS CHAN IZ-LYNN | Chief Executive Officer; Head of Investor Relations | Management Team | PDF p. 22 |
| MR VICTOR TEN | Chief Financial Officer | Management Team | PDF p. 22 |
| MR JACKY CHAN FU YEK | Senior Finance Manager | Management Team | PDF p. 23 |
| MR ERIC LIU | Investment and Asset Management Manager | Management Team | PDF p. 23 |
Extracted from BHG Retail REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.
Related parties, people & properties
Other disclosures
Related party transactions
| Item | Value | Period / scope | Source |
|---|---|---|---|
| – base component | 252 S$'000 | Beijing Hualian Group Investment Holding Co., Ltd. and its subsidiaries or associates; Management fees; FY2025; excluding transactions under unitholders' mandate | PDF p. 196 |
| – performance component | 135 S$'000 | Beijing Hualian Group Investment Holding Co., Ltd. and its subsidiaries or associates; Management fees; FY2025 | PDF p. 196 |
| – reimbursables | 26 S$'000 | Beijing Hualian Group Investment Holding Co., Ltd. and its subsidiaries or associates; Management fees; FY2025 | PDF p. 196 |
| • Property maintenance fees | 53 S$'000 | Beijing Hualian Group Investment Holding Co., Ltd. and its subsidiaries or associates; FY2025 | PDF p. 196 |
| • Property management fees and reimbursables | 5,406 S$'000 | Beijing Hualian Group Investment Holding Co., Ltd. and its subsidiaries or associates; Property management fees and reimbursables; FY2025 | PDF p. 196 |
| Rental discount | 2,051 S$'000 | Beijing Hualian Group Investment Holding Co., Ltd. and its subsidiaries or associates; FY2025 | PDF p. 196 |
| • Trustee’s fees | 141 S$'000 | DBS Trustee Limited (Trustee); FY2025 | PDF p. 196 |
Director remuneration
| Item | Value | Period / scope | Source |
|---|---|---|---|
| CEO | S$415,764 | CEO Chan Iz-Lynn, FY2025, salary inclusive of employer's CPF; total | PDF p. 39 |
| Gan Chee Yen | S$98,000 | Non-Executive Director, FY2025, fees; total | PDF p. 39 |
| George Quek Meng Tong | S$87,000 | Non-Executive Director, FY2025, fees; total | PDF p. 39 |
| Ong Tze Guan | S$85,000 | Non-Executive Director, FY2025, fees; total | PDF p. 39 |
| Peng Ge | – S$ | Non-Executive Non-Independent Director, FY2025 | PDF p. 39 |
| Xiong Zhen | – S$ | Non-Executive Non-Independent Director, FY2025 | PDF p. 39 |
| Key Management Personnel (Excluding the CEO) | S$617,590 | Key Management Personnel excluding the CEO, FY2025, aggregate | PDF p. 39 |
Employees
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Total employees | 9 Number | Manager's workforce, FY2025 (Male 6, Female 3) | PDF p. 112 |
Properties
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Beijing Wanliu | Beijing Wanliu Beijing 30 19(1) | Group, as at 31 December 2025; location Beijing; leasehold · As at 2025-12-31 | PDF p. 131 |
| Chengdu Konggang | Chengdu Konggang County, Chengdu 32 21(2) | Group, as at 31 December 2025; leasehold · As at 2025-12-31 | PDF p. 131 |
| Hefei Mengchenglu | Hefei Mengchenglu District, Hefei 30 19 | Group, as at 31 December 2025; leasehold · As at 2025-12-31 | PDF p. 131 |
| Hefei Changjiangxilu | Hefei Changjiangxilu Hefei 30 17 | Group, as at 31 December 2025; leasehold · As at 2025-12-31 | PDF p. 131 |
| Xining Huayuan | Xining Huayuan District, Xining 34 23 | Group, as at 31 December 2025; leasehold · As at 2025-12-31 | PDF p. 131 |
| Dalian Jinsanjiao | Dalian Jinsanjiao District, Dalian 33 16 | Group, as at 31 December 2025; leasehold · As at 2025-12-31 | PDF p. 131 |
Subsequent events
| Item | Value | Period / scope | Source |
|---|---|---|---|
| 28. SUBSEQUENT EVENTS | On 27 February 2026, the Manager declared a distribution of 0.07 cents per Unit to Unitholders in respect of the period from 1 July 2025 to 31 December 2025. | Group and REIT · As at 2026-02-27 | PDF p. 195 |
Outlook
| Item | Value | Period / scope | Source |
|---|---|---|---|
| LOOKING AHEAD | Nevertheless, retail leasing conditions are expected to remain competitive in the near term. | Joint statement of Chairman (Gan Chee Yen) and CEO (Chan Iz-Lynn), dated 30 March 2026 | PDF p. 13 |
Extracted from BHG Retail REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.
Corporate information
Registration & contacts
- Incorporated In
- SINGAPORE
- Incorporated On
- 18 Nov 2015
- Telephone
- 65 6805 8288
- Fax
- 65 6805 8277
- Registered Office
-
250 North Bridge Road
Raffles City Tower #32-01/04
Singapore 179101 - Secretary
- Cho Form Po
- Registrar / Transfer Agent
- BOARDROOM CORPORATE & ADVISORY SERVICES PTE. LTD.
- Registrar Address
- 1 Harbourfront Avenue, Keppel Bay Tower, #14-07, Singapore 098632
- Auditors
- KPMG LLP
- Other Stock Exchange Listings
- *SINGAPORE EXCHANGE LTD.
- Country
- SINGAPORE
- Security Type
- reits