Singapore, 12 February 2016 – Singapore Technologies Engineering Ltd (ST Engineering) today announced renewal of board chairmen at its subsidiaries with effect from 1 March 2016:
(1) Mr Tan Guong Ching will step down as Director and Board Chairman of Singapore Technologies Aerospace Ltd (“ST Aerospace”);
(2) Mr Lim Sim Seng, an independent non-executive Director of ST Engineering and Director of ST Aerospace since 15 May 2015 and 1 October 2015 respectively, will succeed Mr Tan as Chairman of ST Aerospace;
(3) Mr Soo Kok Leng will step down as Director and Board Chairman of Singapore Technologies Electronics Limited (“ST Electronics”); and
(4) Dr Beh Swan Gin, an independent non-executive Director of ST Engineering and Director of ST Electronics since 1 September 2014 and 1 October 2015 respectively, will succeed Mr Soo as Chairman of ST Electronics.
Mr Tan, who served as Board Chairman of ST Aerospace since 2004, has guided the sustained growth of ST Aerospace, with the company maintaining its position as the world’s largest commercial airframe maintenance, repair and overhaul (MRO) service provider for 12 consecutive years since 2003.
Mr Soo, who served as ST Electronics Board Chairman since 1999, has guided ST Electronics through a period of transformation, growing more than 4 times in revenue size – from about $380m in 1999 to about $1.6b in 2014.
“On behalf of my fellow Directors and Management, I would like to acknowledge with deep appreciation, Guong Ching and Kok Leng’s vital contributions and valuable insights to the respective Boards. We wish them continued good health and look forward to working with them in their other capacities,” said Mr Kwa Chong Seng, Chairman of ST Engineering. “We also look forward to Sim Seng and Swan Gin providing the leadership renewal to the respective boards.”
“I sincerely thank Guong Ching and Kok Leng for their strategic guidance, unwavering support and encouragement to Management throughout their years as Chairmen. On behalf of Management, we wish them continued success in their endeavours. We also look forward to working with Sim Seng and Swan Gin in their respective capacities,” added Mr Tan Pheng Hock, President and CEO of ST Engineering.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index and MSCI Singapore. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
SVP, Corporate Communications
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