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S'pore firms start new year with fewer changes

Publication Date : 01-01-2014


A few listed companies in Singpaore are ringing in the new year with new head honchos but the number of fresh faces in the chief executive suites pales in comparison with last year.

More than 40 companies started 2013 with a new boss at the reins. Things will be more muted this year.

At Keppel Corp, chief executive Choo Chiau Beng, who helped steer the company from a little-known shipyard builder to world-class rig developer, has passed the baton to chief financial officer Loh Chin Hua.

Choo, 65, stays on as a senior adviser to the board.

He has been with Keppel for 42 years and took the helm in 2009.

Loh, 52, who has been with Keppel for 11 years, was managing director of Keppel Land's real estate fund management arm Alpha Investment Partners before becoming chief financial officer in January 2012.

The chief executive of Keppel Offshore & Marine, Tong Chong Heong, will be handing over the position to Mr Chow Yew Yuen, the company's chief operating officer, on Feb 1.

Meanwhile, a top banker is now heading food and gateway services specialist Sats.

Alexander Charles Hungate, previously chief executive of HSBC Singapore, takes over as president and chief executive today from long-serving Sats executive Tan Chuan Lye.

Tan, who was appointed as president and chief executive of Sats in 2012, spent 36 years at the company.

Hungate joined the firm in July as an executive director working with Tan in preparation for the leadership transition.

Hungate has 25 years of global experience, and has held senior management positions at HSBC as group managing director of personal financial services, and managing director of Reuters' Asia-Pacific division.

He has been a non-executive director on the Sats board since July 2011.

Malaysia's IHH Healthcare, one of Asia's largest hospital operators, also welcomes a new chief executive and managing director today.

Dr Tan See Leng, who replaces Dr Lim Cheok Peng, is also the group chief executive of IHH's largest operating subsidiary, Parkway Pantai. Lim is designated as a senior adviser to the board.

Dr Tony Tan Jee-Theng, the executive director and chief executive of oil and gas firm RH Petrogas, retired with effect from Tuesday.

His successor is Francis Chang Cheng-Hsing, previously the company's vice-president of exploration and production.


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