PowerSeraya announces John Ng as New CEO

Singapore, 15 April 2009 – PowerSeraya today announced a new leadership appointment – Mr. John Ng Peng Wah, who is currently the Group’s Senior Vice- President of Retail and Regulation, will assume the position of Chief Executive Officer with effect from 16 May 2009. Mr. John Ng will succeed Mr. Neil Garry McGregor, who has decided to step down as Managing Director of the PowerSeraya Group to explore new prospects and challenges.

On the new appointment, Mr. McGregor said, “PowerSeraya believes in nurturing our employees so they can maximise their growth potential. In the same way I was given the privilege to helm the company in its transformation and transfer from Temasek Holdings to YTL Power, I am glad to now make way for someone like John, who has a thorough understanding of the business. He will undoubtedly be instrumental in augmenting PowerSeraya’s capabilities and harnessing any new business opportunities.”

Mr. Ng, who is widely acknowledged to have expert knowledge of the business, has been groomed for the role in accordance with the company’s succession plan. An industry veteran with more than 20 years of experience under his belt, Mr. Ng transitioned with the company from its PUB days to the current PowerSeraya Group. He is presently responsible for the planning, development and implementation of business development and retail business strategies, policies and procedures. Mr. Ng has also led Seraya Energy – the retail arm of the Group – to garner numerous industry accolades over the years for its service excellence, including making it to the list as one of Singapore’s 50 fastest growing companies for two consecutive years in 2006 and 2007.

Mr. Ng said,” It is my honour to accept the challenge to take the company forward and to build on the past success which Neil has painstakingly carved out for PowerSeraya. I look forward to working with our senior management team and new shareholder YTL Power to further maximise our growth. The focus going forward is to deliver long-term sustainable growth, thereby laying the foundations to become the cornerstone of YTL Power’s utility strategy.”

Mr. McGregor joined PowerSeraya in October 2003 and under his stewardship, he led the company to become an integrated energy business with a diversified energy portfolio spanning utilities services, physical oil trading and terminaling, retailing and trading of electricity.

The Board of Directors places on record its appreciation of Mr. McGregor’s valuable contributions and dedication to the Group.