Leadership Renewal at Sembcorp Development
August 21, 2012
Sembcorp Industries announces that Low Sin Leng, Executive Chairman of Sembcorp’s wholly-owned urban development business, Sembcorp Development, will be retiring on December 31, 2012. Tang Kin Fei, Group President & CEO of Sembcorp Industries, will assume chairmanship of Sembcorp Development upon Ms Low’s retirement, while Kelvin Teo Ban Seng will succeed her as head of the unit.
An accountant by training, Mr Teo is a 19-year veteran of the Sembcorp Group and has served as Sembcorp Development’s President & COO since 2003. He oversees the unit’s operations including strategic and corporate planning, business development and financial and management reporting.
He has a very strong knowledge of the industrial parks and urban development business, having been involved in the start-up and joint venture management of all Sembcorp Development’s projects across Vietnam, China and Indonesia, including the well-known Vietnam Singapore Industrial Park projects. Mr Teo is a graduate of the Association of Chartered Certified Accountants in the United Kingdom and holds a Diploma in Business Studies (with Merit) from Ngee Ann Polytechnic. He also completed the Senior Executive Programme jointly conducted by Tsinghua University’s School of Economics & Management and Harvard Business School.
The board and management of Sembcorp would like to place on record their appreciation to Ms Low for her significant contributions to the Group. Ms Low first joined the Group in 2000 as Chief Operating Officer of Sembcorp Industries, where she played a key role in streamlining the Group’s businesses through a number of divestments and corporate restructurings. In 2004, she moved on to become Executive Chairman of the present-day Sembcorp Development. She grew the business from its initial four developments to its current ten developments and also led the evolution of the business from an industrial parks player into a provider of integrated urban solutions for industrial, business, commercial and residential space. Today, Sembcorp Development’s projects are lauded for their economic and social contributions to Vietnam, China and Indonesia. Aside from her role in the urban development business, Ms Low has also been actively involved in Sembcorp’s other activities in Asia as the Deputy Chairman of Sembcorp Utilities and the Chairman of the Singapore Mint.
Said Sembcorp Industries Group President Mr Tang, “Sin Leng’s contributions to the Group have been invaluable. In particular, her astute management and core strength in strategic relations has helped steer Sembcorp’s urban development business to a position of leadership in the region. Upon Sin Leng’s retirement, I have asked her to take on the role of Senior Advisor to the Sembcorp Development management team and also continue as chairman of the joint venture for the Sino Singapore Chengdu Innovation Park, to help to guide this new project to success.
“Kelvin has been Sin Leng’s deputy these past eight years and he is a capable successor to take over from her as head of the business. I have every confidence that he will build on what Sin Leng has accomplished and take Sembcorp’s urban development business to greater heights.”
Said Ms Low, “Joining Sembcorp was a personal milestone for me as it marked my transition from the public service to the private sector. These 12 years with Sembcorp have been a very exhilarating and fulfilling experience. I am grateful for the support and guidance of the Group’s board and management. I am also appreciative of the friendship and co-operation of all my colleagues in Sembcorp Development as well as the Group. I am sure that with Kelvin at the helm, the business will grow to even greater success”
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For media and analysts’ queries please contact:
Ng Lay San (Ms)
Group Corporate Relations
DID: +65 6723 3150
Email: [email protected]
Mary Ann Chan (Ms)
Sembcorp Parks Management
DID: +65 6723 3976
Email: [email protected]