News

Sembcorp Industries announces that its Group Chief Financial Officer (CFO), Mrs Lim Joke Mui, will be retiring on June 30, 2010. In line with Sembcorp Group’s ongoing succession planning, Mrs Lim will be succeeded by Mr Koh Chiap Khiong, currently the Deputy Group CFO, with effect from July 1, 2010.

An accountant by training, Mr Koh is no stranger to Sembcorp, having worked in the Group’s Utilities business from 1998 to 2005, when he left to join PowerSeraya Limited as CFO.  In August 2008, Mr Koh was identified as a suitable successor to Mrs Lim and was recruited back to the Group as Deputy Group CFO.

Mr Koh brings with him extensive experience in finance, tax, treasury management and audit in various industries. He has more than 10 years of management experience in infrastructure businesses and a very strong knowledge of the energy and water sectors. In addition, in his career, he has been involved in various mergers and acquisitions as well as fund-raising and corporate restructuring activities. Mr Koh graduated with a Bachelor of Accountancy (First Class Honours) degree from the National University of Singapore and is currently responsible for overseeing Group Finance, Group Performance Management and Group Information Technology at Sembcorp.
 
The Board and Management of Sembcorp would like to place on record their heartfelt appreciation to Mrs Lim for her significant contributions to the Group as Group CFO. Mrs Lim was instrumental in a number of key divestments, corporate restructuring and other corporate activities over the past eight years which created significant value for the Group. She also implemented many improvements to strengthen Sembcorp’s financial management and discipline, particularly in areas such as financial management, tax, risk management and in enhancing Sembcorp’s corporate governance and transparency. Today, Sembcorp is recognised as one of Singapore’s most transparent companies.

Said Mr Tang Kin Fei, Sembcorp’s Group President & CEO, “Joke Mui has been a beacon of integrity, professionalism, and good sense in our company for the past eight years. In recent years, as companies felt the impact of the global economic crisis, her prudence and focus on financial discipline has been a key strength which has helped us retain investor confidence and continue our growth in Singapore and overseas. She now leaves the Group in a very strong financial position.

“Joke Mui has indicated her wish to retire for some time now. She has spared no effort in ensuring that she has a capable successor in place and has mentored him to take over from her. I am confident that Chiap Khiong, with his good knowledge of Sembcorp’s businesses, has the skills, experience and integrity to be an excellent Group CFO.”

Said Mrs Lim, “My eight years in Sembcorp has been an extremely satisfying and fulfilling time. I am grateful for the opportunity to have contributed to the growth and prosperity of the Group and would like to thank the board and management of Sembcorp for their support all these years.  Going forward, I am confident that Chiap Khiong, together with the Sembcorp management team, will take the Group to greater heights.”

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For media queries please contact:

Ng Lay San (Ms)
Vice President
Group Corporate Relations
DID: +65 6723 3150
Email: [email protected]

Fock Siu Ling (Ms)
PR Counsel
Group Corporate Relations
DID: +65 6723 3152
Email: [email protected]

ABOUT SEMBCORP INDUSTRIES

Sembcorp Industries is a leading energy, water and marine group. With facilities with over 3,800 megawatts of gross power capacity and over 4 million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to customers in Singapore, China, Vietnam, the United Kingdom, the UAE and Oman. In addition, it is a world leader in marine & offshore engineering, as well as an established provider of environmental services and developer of integrated townships and industrial parks in the region.

Sembcorp Industries has total assets of over S$9 billion and employs more than 6,700 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI indices.

Note to Editors:
Following a company rebrand, please refer to the company as “Sembcorp” (with “S” in upper case and “c” in lower case), or “Sembcorp Industries” in full. Please also note that “Sembcorp” is not an abbreviation of “Sembawang Corporation” but a brand name in itself, and it is therefore incorrect to refer to our company as “Sembawang”, “Sembawang Corporation” or similar.