YTL PowerSeraya Appoints Chan Swee Huat as CEO

Singapore, 16 October 2013 – YTL PowerSeraya today announced a leadership transition – Mr. Chan Swee Huat, who is currently the Senior Vice-President of the Group’s Trading and Fuel Management arm, will succeed Mr. John Ng Peng Wah, as Chief Executive Officer (CEO), to lead the integrated energy company in Singapore.

Mr. Chan assumes the position of CEO with effect from today. At the same time, Mr. Ng will remain to serve as an advisor to the Board of Directors, until the end of November 2013 where he will leave to pursue a new role.

Mr. Chan brings with him over 30 years of experience in business development, planning and management of power plant assets. Having first joined the company in July 2001, he has since held several management positions before he took on his current role as Senior Vice-President of PetroSeraya – the Group’s Trading and Fuel Management arm – which was created in April 2007 as part of the Group’s diversification strategy to move into the non-regulated business.

Central to PetroSeraya’s growth strategy is a trading model that complements the Group’s core business of energy wholesaling and retailing. Besides being involved in physical oil trading, PetroSeraya seeks to optimise its current 860,000 m3 storage capacity through tank leasing, as well as provide bunkering and water supply services through its jetties which are strategically located on Jurong Island.

Under Mr. Chan’s leadership, he has developed and maximised the trading business, as well as the operating efficiency of the company’s fuel-related assets, with good success since its inception.

YTL PowerSeraya’s Chairman, Tan Sri Dato’ (Dr) Francis Yeoh said, “I am pleased that the new CEO comes from within the company as Swee Huat brings with him a solid track record and deep knowledge of the business portfolio. He has been instrumental in building the Group’s diversification strategy through the successful establishment of PetroSeraya. His strategy to further expand the business through tank leasing will serve as a performance benchmark to take the Group to the next level of growth.”

He added, “On behalf of the Board and management, I would also like to express our deepest appreciation to Mr. John Ng for his sterling contributions to the Group. John has been responsible for augmenting the Group’s multi-utility services and his holistic approach in boosting the growth of the company through both economic and social fronts has continued to deliver long-term sustainable growth for the company.”

Speaking on his new appointment, Mr. Chan said, “I look forward to continuing the success of the strong foundation that John has built for the company. With our long-term customer and business partnerships, coupled with a highly competent workforce, YTL PowerSeraya holds the potential to continue to deliver strong results in an increasingly competitive business environment.”

Mr. Chan takes over from Mr. Ng, who close to 30 years ago, joined the company which became today’s YTL PowerSeraya. The latter took over the helm as CEO in April 2009 and steered the growth of the company to maintain its leading position as an integrated energy player in Singapore. He had also led YTL PowerSeraya to become the first power generation company in Singapore to export electricity to Malaysia’s Tenaga Nasional in May 2011, marking the first commercial deal ever for cross-border export of electricity between Singapore and Malaysia. Its retail subsidiary Seraya Energy currently occupies the largest market share in the energy retail contestable sector, a position which it has also held for five years.