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TMCNet:  New Chairman and Board Members Appointed at International Enterprise Singapore

[December 14, 2013]

New Chairman and Board Members Appointed at International Enterprise Singapore

(Targeted News Service Via Acquire Media NewsEdge) SINGAPORE, Dec. 13 -- The Singapore Ministry of Trade and Industry issued the following news release: Mr Seah Moon Ming, currently Deputy Chairman of International Enterprise (IE) Singapore, will be appointed as Chairman with effect from 1 January 2014. He takes over from Mr Sunny Verghese, who will step down on 31 December 2013.

2 In addition, two new members will be appointed to the board of IE Singapore, and four existing board members will be re-appointed. These appointments will also take effect from 1 January 2014.

Mr Sunny VerghesedzcPounds(TM)ldegreez* elcEurosdz 3 Mr Verghese, Group Managing Director and Chief Executive Officer of Olam International Limited, was appointed Chairman of IE Singapore on 22 April 2008. Under his leadership, IE Singapore developed a comprehensive suite of programmes and schemes to help grow Singapore companies into globally competitive companies. These initiatives included the Market Readiness Assistance, a broad-based assistance designed for companies new to internationalisation; and the Global Company Partnership, a strategic, customised assistance for those with existing overseas presence looking to deepen their overseas engagement.

4 During Mr Verghese's tenure as the Chairman, IE Singapore established new strategic relationships through the opening of five new Overseas Centres in Accra, Ghana; Istanbul, Turkey; Johannesburg, South Africa; Yangon, Myanmar; and Wuhan, Central China. Partnerships with international organisations were also developed to support Singapore companies' entry into emerging markets, including with the World Bank and Asian Development Bank.

5 Mr Verghese is also an active champion of free and open trade, and a strong advocate for strengthening Singapore's position as a global leading trade hub. IE Singapore, in collaboration with other agencies, has also driven the initiative to remove Goods and Services Tax from investment-grade precious metals and inputs to refineries, putting Singapore in a good position to become the leading precious metals trading hub in Asia.

Mr Seah Moon Ming (ac-double daggercdegree') 6 Mr Seah Moon Ming, Group Chief Executive Officer of Pavilion Energy Pte Ltd, has been a member of the IE Singapore board since 1 January 2008 and was appointed Deputy Chairman for the last two years.

7 Mr Seah's extensive background and knowledge will be useful in guiding IE Singapore towards achieving its goals as well as charting new directions. His insights in the LNG sector are invaluable to the Board's deliberations on achieving IE Singapore's strategic goals for international trading. With his deep market knowledge of China, Mr Seah provides invaluable insights, guidance and personal contacts to IE Singapore, helping Singapore deepen its business engagement with China. He is also the Vice Chairman of China Business Group under the Singapore Business Federation.

8 In addition, Mr Seah's vast connections in the electronics and ICT sectors and exposure to markets like the US, Europe and China will continue to benefit IE Singapore as it looks to develop the Latin American and Middle Eastern markets for companies, particularly in infocomm technology-related sectors.

Other Appointments 9 MTI has also appointed/reappointed the following persons to the board of IE Singapore: New Members * BG Lim Tuang Liang, Commander, HQ Air Combat Command, Republic of Singapore Air Force, Ministry of Defence * Mr Tan Chong Meng, Group Chief Executive Officer, PSA International Pte Ltd Re-appointment of Members * Mr Teo Eng Cheong, Chief Executive Officer, IE Singapore * Mr Chew Hock Yong, Chief Executive Officer, Land Transport Authority * Dr Robert Yap, Chairman and Chief Executive Officer, YCH Group * Mr Eugene Wong, Founder and Managing Director, Sirius Venture Capital Pte Ltd (A brief write-up on the new board members and a full list of board members can be found in Annex A.) In Appreciation 10 The Ministry of Trade and Industry extends its appreciation to Mr Verghese for his many contributions and guidance. Mrs Ow Foong Pheng, Permanent Secretary for MTI, said, "Sunny has played a key role in charting IE Singapore's strategic directions to strengthen Singapore's position as a global trade hub and grow globally competitive companies. He has advanced IE Singapore's vision of a thriving business hub in Singapore. We thank him for his invaluable service and guidance during his term of appointment." 11 Mrs Ow added, "Moon Ming has been serving as the Deputy Chairman of IE Singapore and has been playing a key role in driving efforts in the internationalisation of Singapore companies. I look forward to working with him." 12 Said Mr Teo Eng Cheong, CEO of IE Singapore, "We have benefitted from Sunny's strong leadership in helping our local companies go international and making Singapore a global leading trade hub. On behalf of IE Singapore, I express my heartfelt appreciation to Sunny for his invaluable contributions and dedication to the agency over these years and wish him all the best in his future endeavours. We warmly welcome Moon Ming as the new Chairman and look forward to working closely with him." 13 MTI would also like to thank the out-going members, Mr Soo Kok Leng, Chairman of Singapore Technologies Electronics Limited and BG Perry Lim Cheng Yeow, Chief of Staff - General Staff, Ministry of Defence, for their contributions.

Annex A International Enterprise Singapore (IE Singapore) New Board Members BG Lim Tuang Liang (c--cTZcZ) Commander, HQ Air Combat Command Republic of Singapore Air Force Ministry of Defence BG Lim Tuang Liang, Commander of the Air Combat Command, joined the RSAF in 1991. In the course of his military career, he has held several appointments, including Head Air Warfare and Technology Office, Air Plans Department; Senior Force Transformation Officer (Air) in Joint Plans and Transformation Department; and as a Special Projects Officer in Unmanned Aerial Vehicle Command (UC). BG Lim was conferred the Public Administration Medal (Bronze) (Military) in 2010 for his contributions to the SAF.

Mr Tan Chong Meng (ecSc) Group Chief Executive Officer PSA International Pte Ltd Mr Tan Chong Meng is the Group Chief Executive Officer of PSA International Pte Ltd. Prior to PSA, Mr Tan served as the Executive Vice President, Global Commercial, Shell Downstream, a part of the Royal Dutch Shell Group. His expertise and experience in managing the complexity, diversity and breadth of a global business as well as his wide exposure in the oil and gas sector will provide great insights on how the Government can continue to grow Singapore as an international trading hub and support Singapore companies in their internationalization journey.

Annex A Board Members of International Enterprise Singapore (as of 1 January 2014) Chairman Mr Seah Moon Ming Group Chief Executive Officer Pavilion Energy Pte Ltd Members Mr Teo Eng Cheong Chief Executive Officer International Enterprise Singapore Mr Chew Hock Yong Chief Executive Officer Land Transport Authority Mr Kho Hui Meng President Vitol Asia Pte Ltd BG Lim Tuang Liang Commander, HQ Air Combat Command Republic of Singapore Air Force Ministry of Defence Ms Olivia Lum Executive Chairman and Group Chief Executive Officer Hyflux Ltd Mr Tan Chong Meng Group Chief Executive Officer PSA International Pte Ltd Mr Eugene Wong Founder and Managing Director Sirius Venture Capital Pte Ltd Dr Robert Yap Chairman and Chief Executive Officer YCH Group Mr Yeoh Keat Chuan Managing Director Economic Development Board CC AutoTriage1pm-131214-30TagarumaMar-4578730 30TagarumaMar (c) 2013 Targeted News Service

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