American Express And Seraya Energy Collaborate To Offer Corporate Customers Greater Control Over Business Expenses

American Express and Seraya Energy are the first to provide Corporate Customers the choice to pay electricity bills on American Express Corporate Card.

14 September 2005 – American Express and Seraya Energy today announced a milestone partnership that will help companies enjoy business savings on their electricity consumption through the American Express Corporate Card. This strategically powerful partnership marks the first in the industry where companies can now put their electricity bills on the American Express Corporate Card. This move will be welcomed by companies as they will now enjoy the convenience of streamlining their business expenses and electricity bills on a single payment platform. They will also have the potential of earning Membership RewardsTM points while taking advantage of Seraya Energy’s competitive energy packages.

“We are pleased to announce this new programme to all our corporate customers”, said Mr. John Ng, Executive Director, Seraya Energy Pte Ltd. “Electricity is a major cost to our Small Medium Enterprises consumers. It is thus very important that they are provided with the most competitive electricity packages. As an innovative and smart company, we recognise that there is a growing segment of our corporate customers who also want to benefit from more flexible payment terms and enjoy the convenience of a consolidated bill. The strengths of both Seraya Energy and American Express’ platforms have been combined to produce value for customers, who wish to have lower transaction costs, the benefits of an excellent loyalty scheme and competitive electricity supply. We believe that this partnership will continue to strengthen our brand presence as a leading energy supplier in the Singapore market”.

Ms. Melanie Cochrane, Vice President, Global Commercial Card, Middle Market, Asia Pacific/ Australia, American Express International Inc. said, “We are delighted to be the first to provide our valued Corporate Cardmembers a smart solution to manage their utility expenses through the American Express Corporate Card. This is a one-card solution for managing all their business expenses. With greater control and flexibility, our Corporate Cardmembers can now enjoy more business savings and manage their business expenses effectively. In addition, they will continue to enjoy the same unparallel benefits and services as well as worldwide recognition as enjoyed by all American Express Cardmembers around the world.”

First energy provider to partner with a Corporate Card Issuer

Targeted at corporate customers, Seraya Energy is the first energy retailer in Singapore to collaborate with one of the world’s most prestigious and respected brands – American Express. This partnership enables Seraya Energy to leverage on American Express’ acquisition and marketing activities to broaden its existing and prospect databases. On the other hand, the partnership provides American Express Corporate Cardmembers a value-added platform for paying utility bills on the American Express Corporate Card – a first for the industry.

“American Express is constantly looking at innovative ways to provide premium value to both our customers and merchants. By partnering with like-minded players like Seraya Energy, we can channel corporate expenses to our merchants and at the same time, offer corporations a convenient way to pay their utility bills,” said Mr. Peter Kapoor, Regional Vice President and Area Market Head, Global Establishment Services, Singapore/Malaysia/Indonesia, American Express International Inc.

Value-added services to consumers

With a one-card solution to help companies manage their business expenses, American Express Corporate Cardmembers can now subscribe to Seraya Energy’s services and enjoy a convenient mode of payment for their utility expenses.

Through the American Express Corporate Card programme, Seraya Energy customers would be able to gain access to American Express Corporate Expense Management Solution* to manage all their business expenses. Targeted at Small Medium Enterprises, this would translate to benefits of greater control over their business expenses and more savings and convenience. The overall payment period for customers will be extended from 14 days up to 45 days, empowering them with more financial control and stability. This will also assist them to settle all monthly utility bills on time and in a hassle-free manner.

“When Seraya Energy decided to embark on this innovative value-add service, it was natural that we had to work with another market leader: American Express, a premium corporate card issuer. Most importantly, both Seraya Energy and American Express share the same business objectives and vision of providing nothing but the best for our customers,” commented Mr Neil McGregor, Managing Director of PowerSeraya Ltd, parent company of Seraya Energy. “This collaboration is all about our vision to develop innovative solutions for our customers. We are confident that this collaboration will change the way electricity is being retailed in Singapore.”

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About American Express
The American Express Company is a diversified worldwide travel, financial services and network Services Company. Founded in 1850, it is a leader in charge and credit cards, Travellers Cheques, travel, financial planning, investment products, insurance and international banking.

For more information about American Express products and services, visit the worldwide
web site at www.americanexpress.com.sg.

* American Express Corporate Expense Management Solution helps the company to check and track expenditure by providing one consolidated account for expense management.